WINNIPEG, Manitoba, May 5, 2014 /CNW/ – Pollard Banknote Limited (TSX: PBL) (Pollard Banknote) today released its financial results for the three months ended March 31, 2014.
“Our first quarter financial results reflect the continuing strong business fundamentals experienced by Pollard during the start of 2014 and we are pleased both about the actual results and the potential growth we see in our business,” stated John Pollard, Co-Chief Executive Officer. “The significant revenue growth, both compared to the same time last year and the more recent quarters, is reflective of both higher sales volumes and improved average selling price. Sales of our licensed games and proprietary products such as Scratch FX® were also very high during the quarter.”
“Particularly satisfying is the growth in our EBITDA of approximately 23% compared to the same period last year, indicating the investments we have made in our business are paying dividends through improved value creation.”
“Based on our confidence in the market, and our ongoing success in growing our top line and winning new work, we were very pleased to have announced recently the purchase of a new advanced press line. When operational in the spring of 2015, this press will provide substantial increased capacity as well the ability to reduce our ongoing operating cost structure.”
“The lottery industry, and in particular the instant ticket product segment, remains very robust and we are pursuing a number of strategies to both expand our market share and capitalize on new opportunities such as digital and internet related gaming (or iLottery).”
About Pollard Banknote
Pollard Banknote is a leading lottery partner to more than 50 lotteries worldwide, providing high quality instant ticket products, licensed games and strategic marketing and management services for both traditional instant games and the emerging iLottery space of web, mobile and social channels. The company is a proven innovator and has decades of experience helping lotteries to maximize player engagement, sales, and proceeds for good causes. Pollard Banknote also plays a major role in the charitable pull-tab and bingo markets in North America. Established in 1907, Pollard Banknote is owned approximately 73.5% by the Pollard family and 26.5% by public shareholders and is publicly traded on the TSX (PBL). For more information, please visit our website at www.pollardbanknote.com.
Certain statements in this press release may constitute “forward-looking” statements and information, which involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. When used in this document, such statements include such words as “may,” “will,” “expect,” “believe,” “plan,” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this document. There should not be an expectation that such information will in all circumstances be updated, supplemented, or revised whether as a result of new information, changing circumstances, future events, or otherwise.
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