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Gener8 Announces Third Quarter Financial Results - Revenue Up 52% in 1st 9 Months of 2014
Wednesday, December 17, 2014Company Profile | Follow Company
Vancouver, BC, December 17, 2014--(T-Net)--Gener8 Media Corp. (CSE: GNR) announced the release of its unaudited financial results for the third quarter ended September 30, 2014. All figures are in Canadian dollars.
Q3 2014 Financial Update
Q3 2014 Operational Update
Q3 2014 Financial Summary
Three months ended September 30, 2014September 30, 2013
Revenue | $2,364,533 | $3,836,982 |
Net income (loss) and comprehensive income (loss) attributable to the Shareholders of the Company | (1,869,599) | 213,060 |
Basic income (loss) per share | ($0.04) | $0.01 |
Moving Forward
The Company is working on multiple 3D conversion projects that go well into 2015. With all of the work recently awarded, Gener8 is set to complete hiring 70 staff by the end of November and 40 more staff in December. Gener8's data visualization business, Cumul8, is experiencing an increase in staffing as well due to the success of its recent US projects.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although Gener8 believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For more Information, please contact:
Danielle Rockel
Vice President of Corporate Affairs
Danielle@gener8.com
Suite 100, 138 East 7th Avenue
Vancouver, British Columbia, V5T 1M6
Phone: (604) 669-8885
Fax: (604) 669-8855
About Gener8
Gener8 Media Corp. is a media technology company led by a team of gaming industry veterans. At the forefront of postproduction, the company earned its stripes by developing a proprietary 3D conversion technology, garnering high-profile credits including Godzilla, Maleficent and 300: Rise of an Empire. Gener8 has since expanded into offering visual effects services and a cloud-based data management and analytics solution called Cumul8. With its focus on developing disruptive solutions that combine design and technology, Gener8 funded and then acquired a majority interest in Reelhouse Media Ltd., an online entertainment distribution start-up. Gener8's head office is located in Vancouver, British Columbia.
Visit the company website at http://www.gener8.com.
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