Montreal, QUEBEC / TheNewswire / August 29, 2017 – On August 29, 2017, 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 reporting a profit of $ 2.7 million on revenues of $ 24.4 million for the six-month period ended June 30, 2017.
During the quarter ended June 30, 2017, the Company reported a profit of $ 1.3 million on revenues of $ 12.1 million while for the same period in 2016, the Company had generated a profit of $ 0.6 million on revenues of $ 8.7 million.
For the six-month period ended June 30, 2017, gross margin increased by $ 5.0 million to $ 15.4 million compared to the same period in 2016. For the quarter ended June 30, 2017, gross margin increased by $ 2.5 million to $ 7.4 million compared to the quarter ended June 30, 2016. In addition to having a larger client base and a wider geographical market penetration, the Company has been able to maintain its product mix whereby the Company’s higher margin products and services continue to provide strong gross margins.
For the six-month period ended June 30, 2017 operating expenses were $ 12.0 million compared to $ 8.0 million during the same period in 2016. During the quarter ended June 30, 2017, operating expenses were $ 6.3 million compared to $ 3.8 million for the quarter ended June 30, 2016. The Company has reached a level of sales that requires a more robust selling and administration infrastructure to meet the increasing volume which explains the higher level of operating expenses.
For the six-month period ended June 30, 2017, the Company reported on operating profit of $ 3.4 million compared to $ 2.4 million for the same period in 2016. For the quarter ended June 30, 2016, the Company reported an operating profit of $ 1.0 million compared to $ 1.1 million for the same period in 2016.
Complete financial statements and MD&A for the three-month period ended June 30, 2017 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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