AXLX .002 news: Axiologix Sees First Revenues and
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AXLX .002 news: Axiologix Sees First Revenues and Generates Positive Net Income for Quarter Ending May 31, 2012
Axiologix provides guidance on results for the 4th quarter ending May 31, 2012.
Bedminster, NJ (PRWEB) July 11, 2012
Axiologix, Inc. ( http://www.axiologix.net), (AXLX) an International Technology and Services Organization focused on delivering "Cloud" products and services today provides guidance on results for the 4th quarter ending May 31, 2012.
The company booked revenues of $186,000 for the three months ending May 31, 2012, its first revenues since inception. Gross margins were 95% and operating profits (EBITDA) will exceed $20,000 for the quarter.
In addition, the company will record one-time gains of $112,000 from debt settlement and approximately $140,000 from the sale of the education assets to Mr. Daglis, the previous CEO and a previous director, in May 2012. The above items will result in expected positive net income of over $200,000 for the quarter after depreciation and interest charges are deducted.
The company intends to file its full annual report for the year ended May 31, 2012 through the OTC Markets Disclosure and News Service within the next ten days that will provide further details on the quarter and full year performance.
Vincent Browne, Chairman and Chief Executive Officer of Axiologix, Inc., said, “This is a significant event for Axiologix as it reports first revenues and operating profits for the last quarter of 2012. We currently expect the Company to continue to operate profitability going forward as the revenues of the Irish operations are set to grow following some recent additional business that are not reflected in the last quarter numbers. The Company has contracts with a number of leading telecom operators around the world that provide predictable recurring revenues. As previously announced, we expect that annual revenues for this unit will exceed $1m based on these relationships which underpins revenue generation and operations for the year ahead. In addition to growing organically with Prime Carrier, we are at various stages of agreement to acquire further companies in the Cloud services area that will be additive to revenues and operations if successfully completed.”
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