Montreal, Quebec / TheNewswire / May 29, 2018 – On May 29, 2018, DMD Digital Health Connections Group Inc. ("DMD" or the "Company") (NEX: DMG.H), a leader in digital intelligence for the health industry filed its financial statements and MD&A for the three-month period ended March 31, 2018 reporting a profit of $ 1.1 million on revenues of $ 11.7 million.
During the quarter ended March 31, 2018, the Company reported a profit of $ 1.1 million on revenues of $ 11.7 million while for the same period in 2017, the Company had generated a profit of $ 1.5 million on revenues of $ 12.3 million.
Revenue decreased by $ 0.7 million for the quarter ended March 31, 2018 compared to the quarter ended March 31, 2017 while gross margin decreased by $ 0.5 million, from $ 7.9 million in 2017 to $ 7.4 million during the same period in 2018. The fluctuation in Canadian dollar versus US dollar explains most of the decrease or approximately 4.5%. For the quarters ended March 31, 2018 and 2017, the average foreign exchange rates were, respectively, 1.2647 and 1.3238.
During the quarter ended March 31, 2018, operating profit was $ 1.6 million compared to $ 2.3 million during the same period in 2017. Higher expenses for the current period reflect the higher level of activities as the Company continue to expand its product development, marketing efforts and internal systems.
Complete financial statements and MD&A for the three-month period ended March 31, 2018 are available on SEDAR at www.sedar.com
About DMD Digital Health Connections Group Inc. ("DMD")
DMD enables pharmaceutical, pharmaceutical marketing companies, digital advertising agencies and medical device companies to effectively reach, message, connect and interact with US physicians and healthcare professionals via multiple access channels. Its innovative service offerings provide targeted impressions and interactions through permission-based email, targeted on-line ad-serving, and mobile app advertising channels. Top pharmaceutical companies, agencies and respected healthcare organizations have adopted DMD’s solutions to target, engage and interact with leading healthcare practitioners. For more information, visit www.dmdconnects.com.
This news release contains forward-looking information. These statements relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management of DMD. A number of factors could cause actual events, performance or results to differ materially from the events performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and DMD does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither NEX, the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
DMD Digital Health Connections Group Inc.
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