Footmaxx Holdings Inc.: Financial Statements and MD&A for Q1 2007
Published May 16th, 2007
Footmaxx Holdings Inc., (”Footmaxx”)(TSX VENTURE:FMX), a leading orthorpaedic and diagnostic company announces that:
Footmaxx achieves Q1 EBITDA of $414,000
During the first quarter of 2007 the Company experienced soft demand for both orthotic products and its orthotic ordering system. As a result, revenue decreased marginally from $3,344,183 in the first quarter of 2006 to $3,340,585 in the first quarter of 2007, a decrease of 0.1%. EBITDA for the first quarter decreased by $2,197 or 0.5%, from $416,319 in 2006 to $414,122 in 2007. Net loss decreased from a loss of $78,724 for the first quarter of 2006 to $54,802 in 2007.
Non-GAAP Measures
In the Management Discussion and Analysis, and elsewhere, measures such as earnings before interest, taxes, depreciation and amortization (EBITDA) and other terms that are used are not defined by generally accepted accounting principles (”GAAP”). The use of these terms may not be consistent with the way these terms are used by others. Where possible, in particular for EBITDA, tables and other information are provided that enables readers to reconcile between such non-GAAP measures and standard GAAP measures. While these measures are not defined by or required by GAAP, this information is provided to readers to help them better understand significant measures.
Forward-looking Statements
This release may contain projections and other forward-looking statements regarding future events. Such statements are predications involving known and unknown risks, uncertainties and other factors that may cause the actual events or results to be materially different. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company’s expectations are correct. For information concerning factors affecting the Company’s business, the reader is referred to the documents that the Company files from time to time with applicable Canadian securities and regulatory authorities.
Footmaxx produces and globally markets high quality, state-of-the-art orthopaedic devices and products. Footmaxx’s diagnostic system and proprietary software provides detailed information which enable clinicians to further evaluate patients for certain for knee, hip, lower back and bio-mechanical problems. For more information on Footmaxx visit: www.footmaxx.com.
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