Shares of D-Box (TSX:DBO) are up this morning after the company reported a better than expected Q4.
In the fourth quarter, the company narrowed its loss to $43,000 on revenue of $4.98-million, a topline that was up 39% over the same period last year. For the full year, the firm saw double digit gains in revenue, which was up 23%, and EBITDA, which was up 64% over 2013.
CEO Claude McMaster said the company is building momentum.
“Our financial results are constantly improving while we keep growing in the entertainment and industrial markets, invest more in our R&D and strengthen our sales team,” he said. “Considering these results and our advantageous positioning, I anticipate enthusiastically the upcoming fiscal year.”
Longueuil Quebec’s D-Box makes integrated motion systems built into high tech chairs that are synchronized with the action and sound on a movie screen. As late as 2011, the company was bouncing back between the home theatre market and the commercial market, and struggling to build a consistent revenue stream from its technologies. But the company started to gain solid footing after shifting its focus purely to the latter.
Today, D-Box is enjoying what management describes as “continuous and strategic deployment with large theatre chains”. Since April 1st alone it has added 45 screens, and 39 Hollywood films were coded by D-Box in 2014, 15 of which ranked number one at the box office on their respective opening weekends.
At press time, shares of D-Box were up 13.5% to $0.295.