FOR INMEDIATE RELEASE, JANUARY 23rd, 2018.
BUENOS AIRES, ARGENTINA – Facundo Corp – the leading corporation on industrial and consumer services – announced today earnings per diluted share of $0.60 for its first-ever quarter in 2017. Results for the quarter include:
• $6.023 million on recurring revenue.
• $7.323 in net income.
Facundo Pignanelli, CEO and Chairman of the board made the following statement:
“We’re thrilled for our results in the first quarter of the company. Our Consumer and Industrial services are one of the strongest in the industry and these results are a confirmation of our current strategy”.
PERFORMANCE SUMMARY
Facundo Corp business are reported in 3 segments: Consumer Services, Industrial Services and Corporate and Other.
Consumer Services: IBIT for Consumer Services was of $5.699 million for the quarter.
CrossRetail is the consumer-retail arm of Facundo Corp. IBIT for CrossRetail was of $215 million for the quarter.
Minted Studios is the media services arm of Facundo Corp. IBIT for Minted Studios was of $0.654 million for the quarter.
Blastech is the game-developing and publisher arm of Facundo Corp. IBIT for Blastech was of $5.483 million for the quarter, making it the most successful arm of Consumer Services for the quarter.
Industrial Services: IBIT for Industrial Services was of $316 million for the quarter.
ZORiN Industries is the commodity marketing arm of Facundo Corp. IBIT for ZORiN Industries was of $266 million for the quarter, making it the most successful arm of Industrial Services for the quarter.
Voyage Transports is the industrial transportation arm of Facundo Corp. IBIT for Voyage Transports was of $0.335 million for the quarter.
Co-Op Oil is the oil marketing arm of Facundo Corp. IBIT for Co-Op Oil was of $50 million for the quarter.
Corporate and Other
Corporate and Other IBIT for the quarter was a loss of $8 million, primely due to highly un-allocated corporate expenses and minimal revenues of Financial Services.
OTHER INFORMATION
Including non-recurring results, Facundo Corp reported earnings of $0.73 per diluted share. This non-recurring item are the revenues originated from the selling of some subsidiaries of the company.
A replay of the conference call with the company management conducted today is available for replay in the Investors page of the company’s website.
Facundo Corp operates many industrial, consumer and financial services across the world. The company’s website can be found at facundocorp.000webhostapp.com/. The company’s stock symbol is traded in the NYSE as “FCORP”.
Please see attached tables for additional financial information.
This press release contains forward-looking statements, within the meaning of the Private Securities Act of 2014. These forward-looking statements include without limitation those about the payment of the Company’s quarterly dividend and its plans for new features and products. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, war, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the RCS, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” Sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
For additional information please contact:
Martín Gomez