Press Release: Redline Communications Reports 2021 Third Quarter Results
Press Release: Redline Communications Reports 2021 Third Quarter Results
Redline Communications Reports 2021 Third Quarter Results
紅線通信報告2021年第三季度業績
Canada NewsWire
加拿大新聞通訊社
TORONTO, Nov. 11, 2021
多倫多，2021年11月11日
TORONTO, Nov. 11, 2021 /CNW/ - Redline Communications Group Inc. (TSX: RDL), a leading provider of mission-critical data infrastructure for remote & harsh environments, today announced operating results for the third quarter ended September 30, 2021.
多倫多，2021年11月11日/cnw/-為遠程和惡劣環境提供關鍵任務數據基礎設施的領先提供商Redline Communications Group Inc.(多倫多證券交易所股票代碼：RDL)今天公佈了截至2021年9月30日的第三季度經營業績。
All figures are in US Dollars unless otherwise noted.
除非另有説明，所有數字均以美元計算。
-- Revenues increased 9.3% to $5.2 million from $4.7 million in Q2 2021 and
decreased $0.04 million from Q3 2020
-- Q3 2021 Gross margin was 66% compared to 52% for Q3 2020 and 61% for Q2
2021.
-- Over 70% of revenues were fulfilled via distribution and reseller
partners
-- Bookings $6.3 million in Q3 2021 an increase of 20% from Q2 2021
reflecting sales momentum since the beginning of the year.
-- Backlog increased to $12.5M at the end of Q3 2021 (up from $11.8M at Q2
2021)
-- Adjusted EBITDA loss improved to $195,000 in Q3 2021 compared to losses
of $668,000 in Q2 2021 and $409,000 in Q3 2020.
-收入從2021年第二季度的470萬美元增長到520萬美元，增長9.3%與2020年第三季度相比減少了40萬美元-2021年第三季度毛利率為66%，而2020年第三季度和第二季度分別為52%和61% 2021. -70%以上的收入來自分銷和經銷商夥伴-2021年第三季度預訂量為630萬美元，比2021年第二季度增長20%反映了年初以來的銷售勢頭。-2021年第三季度末，積壓的訂單增加到1250萬美元(高於第二季度的1180萬美元 2021) -與虧損相比，2021年第三季度調整後的EBITDA虧損改善至19.5萬美元2021年第二季度為668,000美元，2020年第三季度為409,000美元。
"We are pleased to report quarter over quarter improvements in cash, revenues, bookings, backlog, EBITDA and net profit," stated Richard Yoon, Chief Executive Officer. "The company has made great strides this past quarter in driving revenue growth while also increasing gross margin to 66%, a dramatic improvement over the 52% achieved in the same quarter last year. I am extremely encouraged by the current market conditions and the increase in deployments from our customer base. Coming out of the softness in the business caused by the COVID pandemic, we are seeing more customers ramping up their digital transformation plans, which we expect to be a key driver of product demand in the coming quarters".
首席執行官Richard Yoon説：“我們很高興地報告現金、收入、預訂量、積壓、EBITDA和淨利潤都比上個季度有所改善。”“在過去的一個季度裏，公司在推動收入增長的同時也將毛利率提高到了66%，與去年同期的52%相比，這是一個巨大的進步。我對當前的市場狀況和我們客户羣部署的增加感到非常鼓舞。從COVID疫情導致的業務疲軟中走出來，我們看到更多的客户加快了他們的數字化轉型計劃，我們預計這將成為未來幾個季度產品需求的關鍵驅動力。”
Financial and Business Review
金融和商業評論
Gross margin of 66% in Q3 2021 was up 5 percentage points from Q2 2021 and up substantially from 52% in Q3 2020. The changes are primarily due to changes in sales mix.
2021年第三季度毛利率為66%，比2021年第二季度增長5個百分點，大幅高於2020年第三季度的52%。這些變化主要是由於銷售組合的變化。
Total operating expenses for Q3 2021 were $3.9 million, up 12% from $3.5 million in Q3 2020 and flat compared to Q2 2021. The year-over-year increase was due primarily to increased expenses in R&D related to new product development as well as increased sales costs associated with the increase in gross profit.
2021年第三季度的總運營費用為390萬美元，比2020年第三季度的350萬美元增長了12%，與2021年第二季度持平。同比增長的主要原因是與新產品開發相關的研發費用增加，以及與毛利潤增加相關的銷售成本增加。
Adjusted EBITDA loss for Q3 2021 was $0.2 million, an improvement of $0.5 million and $0.2 million compared to Q2 2021 and Q3 2020 respectively.
2021年第三季度調整後的EBITDA虧損為20萬美元，分別比2021年第二季度和2020年第三季度增加50萬美元和20萬美元。
Net loss improved from $0.7 million in Q2 2021 and $0.4 million in Q3 2020 to $0.1 million in Q3 2021.
淨虧損從2021年第二季度的70萬美元和2020年第三季度的40萬美元改善到2021年第三季度的10萬美元。
Key financial highlights for the three months ended
September 30, 2021 ("Q3 2021") include:
Q3 2021 Q2 2021 Increase % Change Q3 2020 Increase % Change
(decrease) (decrease)
Revenue $5.2 M $4.7 M $0.5 M 9% $5.2 M ($0.04 M) -1%
Gross profit
margin % 66% 61% 5% 52% 14%
Operating
expenses $3.9 M $3.9 M - 0% $3.5 M $0.4 M 12%
Net loss $0.1 M $0.7 M $0.6 M 86% $0.4 M $0.3 M 72%
Adjusted
EBITDA
loss(1) $0.2 M $0.7 M $0.5 M 71% $0.4 M $0.2 M 52%
CEWS benefit $0.2 M $0.4 M ($0.2 M) -50% $0.3 M ($0.1 M) -27%
Bookings(1) $6.3 M $5.3 M $1.0 M 20% $6.5 M ($0.2 M) -3%
September June Increase % Change September Increase % Change
30, 2021 30, (decrease) 30, 2020 (decrease)
2021
Cash $3.8 M $2.7 M $1.1 M 41% $5.1 M ($1.3 M) 25%
Inventory $4.7 M $5.1 M ($0.4 M) -8% $6.5 M ($1.8 M) 28%
Order
Backlog(1) $12.5 M $11.8 M $0.7 M 7% $11.1 M $1.4 M 13%
Key financial highlights for the nine months ended
September 30, 2021 include:
2021-09 2021-06 Increase % Change 2020-09 Increase % Change
YTD YTD (decrease) YTD (decrease)
Revenue $13.7 M $8.5 M $5.2 M 61% $13.8 M ($0.1 M) -1%
Gross profit
margin % 65% 64% 1% 57% 8%
Operating
expenses $11.6 M $7.8 M $3.8 M 49% $11.3 M $0.3 M 3%
Net loss $2.0 M $1.9 M ($0.1 M) -5% $2.3 M $0.3 M 12%
Adjusted
EBITDA
loss(1) $1.9 M $1.7 M ($0.2 M) -12% $2.5 M $0.6 M 22%
CEWS benefit $0.9 M $0.67 M $0.23 M 34% $1.0 M ($0.1 M) -12%
Bookings(1) $14.9 M $8.6 M $6.3 M 73% $17.0 M ($2.1 M) -12%
September June Increase % Change December Increase % Change
30, 2021 30, (decrease) 31, 2020 (decrease)
2021
Cash $3.8 M $2.7 M $1.1 M 41% $5.3 M ($1.5 M) -28%
Inventory $4.7 M $5.1 M ($0.4 M) -8% $5.5 M ($0.8 M) -15%
Order
Backlog(1) $12.5 M $11.8 M $0.7 M 7% $11.8 M $0.7 M 7%
截至三個月的主要財務亮點2021年9月30日(“2021年第三季度”)包括：2021年第三季度2021年第三季度增長百分比變化2020第三季度增長百分比變化(減少)(減少)收入520萬美元470萬美元50萬美元9%520萬美元(470萬美元)-1%毛利利潤率%66%61%5%52%14%運營中費用390萬美元390萬-0%350萬美元40萬12%淨虧損$0.1 M$0.7 M$0.6 M 86%$0.4 M$0.3 M 72%調整後的EBITDA虧損(1)$0.2 M$0.7 M$0.5 M 71%$0.4 M$0.2 M 52%CEW收益20萬美元(20萬美元)-50%30萬美元(10萬美元)-27%預訂量(1)630萬美元530萬美元100萬美元20%650萬美元(20萬美元)-3%9月份6月份增長百分比變化9月份增長百分比變化2021年30日，(減少)2020年30日(減少) 2021 現金$380萬$270萬$110萬41%$510萬($130萬)25%庫存470萬美元510萬美元(40萬美元)-8%650萬美元(180萬美元)28%訂單積壓(1)$12.5M$11.8M$0.7M 7%$11.1M$140萬13%截至今年前九個月的主要財務亮點2021年9月30日包括：2021-09 2021-06增幅變動2020-09增幅變動百分比YTD YTD(減少)YTD(減少)收入1370萬美元850萬美元520萬61%1380萬美元(10萬美元)-1%毛利利潤率%65%64%1%57%8%運營中費用$1160萬$780M$380M 49%$1130萬$0.3M3%淨虧損200萬美元190萬美元(10萬美元)-5%230萬美元0.3萬美元12%調整後的EBITDA虧損(1)$190萬$170萬($20萬)-12%$2.50萬$0.6M 22%CEW收益$0.9 M$0.67 M$0.23M 34%$100萬($10萬)-12%預訂量(1)1490萬美元860萬美元630萬73%1700萬美元(210萬美元)-12%9月份6月份增長百分比變化12月份增長百分比變化2021年30日，(減少)2020年31日(減少) 2021 現金$380萬$270萬$110萬41%$530萬($150萬)-28%庫存470萬美元510萬美元(40萬美元)-8%550萬美元(80萬美元)-15%訂單積壓(1)$12.5M$11.8M$0.7M7%$11.8M$0.7M7%
Conference Call and Webcast -- November 11, 2021 at 10:00 a.m. ET
電話會議和網絡廣播--2021年11月11日上午10：00外星人
A conference call and webcast to discuss the results has been scheduled for Thursday, November 11, 2021 at 10:00 a.m. Eastern Time. To participate, please dial 1-416-764-8659 approximately 10 minutes before the conference call and provide passcode 37221496. A recording of the call will be available through November 18, 2021 on Redline's website or by dialing 1-416-764-8677 and entering the passcode 221496.
討論結果的電話會議和網絡直播定於2021年11月11日(星期四)上午10點舉行。東部時間。要參加會議，請在電話會議前大約10分鐘撥打1-4167648659，並提供密碼37221496。這次通話的錄音將在2021年11月18日之前在紅線公司的網站上提供，或者撥打1-4167648677並輸入密碼221496。
About Redline Communications
關於紅線通信
Redline Communications (TSX:RDL) designs and manufactures powerful wide-area wireless networks for mission-critical applications in challenging locations. Redline networks are used by oil & gas companies onshore and offshore, mining companies on surface and underground operations, by municipalities to remotely monitor infrastructure, and by specialized telecom service providers to deliver premium services. Hundreds of businesses worldwide rely on Redline to engineer, plan and deliver ruggedized, secure and reliable networks for their IoT, voice, data, and video communications needs in locations that include the deserts of the Middle East, the rainforests of South America, and the frozen Alaskan slopes. For more information visit www.rdlcom.com.
紅線通信公司(多倫多證券交易所股票代碼：RDL)設計和製造功能強大的廣域無線網絡，用於具有挑戰性地點的關鍵任務應用。紅線網絡被陸上和海上的石油和天然氣公司、地面和地下作業的礦業公司、市政當局用來遠程監控基礎設施，以及專業的電信服務提供商用來提供優質服務。全球數以百計的企業依靠Redline來設計、規劃和提供加固、安全和可靠的網絡，以滿足其物聯網、語音、數據和視頻通信需求，這些地點包括中東沙漠、南美熱帶雨林和冰凍的阿拉斯加斜坡。欲瞭解更多信息，請訪問www.rdlcom.com。
NOTES:
1 To better assess the health and growth of the Redline's
business, the Company reports certain non-IFRS metrics,
including "Bookings", "Order Backlog","Adjusted EBITDA"
and "Adjusted EBITDA Margin". Further information
including definitions of these measures and a reconciliation
to their closest IFRS measure, if applicable, can
be found in the Company's Management Discussion and
Analysis for the three and nine months ended September
30, 2021 ("Q3 2021 MD&A"), copies of which are available
on SEDAR at www.sedar.com. Further details on the
three and nine months ended September 30, 2021 can
be found in the condensed consolidated statement of
financial position, statement of comprehensive loss,
statement of changes in equity and statement of cash
flows reproduced at the end of this press release.
The selected financial information included in this
release is qualified in its entirety by, and should
be read together with the condensed consolidated financial
statements of the Company for the three and nine months
ended September 30, 2021 and the Q3 2021 MD&A.
Adjusted EBITDA
(Loss)
(Unaudited, Expressed in
thousands of U.S. dollars)
The table below reconciles Adjusted EBITDA (loss)
to net profit (loss):
Three months ended Nine months ended September
September 30, 30,
(unaudited) (unaudited)
(in thousands) 2021 2020 2021 2020
Revenue $ 5,195 $ 5,235 $ 13,678 $ 13,833
Net profit
(loss) (97) (350) (1,979) (2,251)
Add back:
Share based
payments 6 51 92 142
Depreciation
and
amortization 256 263 766 800
Canada
Emergency Wage
Subsidy (243) (335) (912) (1,041)
Finance
(income)
expense 12 7 28 16
(Gain) loss on
fair market
value
of financial
instruments (94) (77) 26 (150)
Foreign
exchange
(gain) loss (46) 18 2 (51)
Income tax
expense 10 14 53 58
Total (99) (59) 55 (226)
Adjusted EBITDA
(loss) $ (196) $ (409) $ (1,924) $ (2,477)
Adjusted EBITDA
margin -4% -8% -14% -18%
備註：1為了更好地評估紅線的健康和成長業務方面，公司報告某些非國際財務報告準則的指標，包括“預訂量”、“訂單積壓”、“調整後的EBITDA”和“調整後的EBITDA利潤率”。進一步信息包括這些措施的定義和協調根據其最接近的國際財務報告準則(IFRS)衡量標準，如果適用，可以在公司的管理層討論中被發現，並截至九月底的三個月及九個月的分析2021年3月30日(“2021年第3季度MD&A”)，其副本可供下載在SEDAR網站www.sedar.com上。有關截至2021年9月30日的三個月和九個月可以在簡明的合併報表中找到財務狀況，全面損失表，權益變動表和現金表在本新聞稿末尾轉載的流量。此文件中包含的選定財務信息發佈完全符合以下條件，並且應該應與簡明的綜合財務報告一併閲讀本公司三個月及九個月的報表截至2021年9月30日和2021年第三季度MD&A。調整後的EBITDA(虧損)(未經審計，以(幾千美元)下表對賬調整後EBITDA(虧損)淨利潤(虧損)：截至三個月截至九月的九個月9月30日，30日，(未經審計)(未經審計)(千)2021 2020 2021 2020收入$5,195$5,235$13,678$13,833淨利潤(損失)(97)(350)(1,979)(2,251)添加回：基於共享的付款6 51 92 142折舊和攤銷256 263 766 800加拿大應急工資津貼(243)(335)(912)(1,041)金融(收入)費用12 7 28 16(收益)虧損公平市場價值金融行業的文書(94)(77)26(150)外國兑換(收益)損失(46)18 2(51)所得税費用10 14 53 58總計(99)(59)55(226)調整後的EBITDA(虧損)$(196)$(409)$(1924)$(2477)調整後的EBITDA利潤率-4%-8%-14%-18%
Forward Looking Statements
前瞻性陳述
譯文內容由第三人軟體翻譯。