Xianburg Data Systems Canada: Fiscal 2Q13 Financial Results

Xianburg Data Systems Canada Corporation announced its financial results for the fiscal 2013 second quarter ended June 30, 2013. All amounts are reported in Canadian dollars.

Selected highlights of the FY 2013 Q2:

• Revenue of $837K, an increase of 31% compared to $640K for the same period last year.
• Adjusted EBITDA (a non-IFRS term) was $444K, an increase of $339K compared to $105K for the same period last year. The Company uses adjusted EBITDA (a non-IFRS financial measure) internally to make strategic decisions, forecast future results and evaluate its performance, defined as net income before interest, income taxes, depreciation, amortization, stock option compensation expenses, foreign currency loss, and minority interest.
• Gross margin of $463K (55% of revenue) an increase of 57% compared to $294K (46% of revenue) for the same period last year.
• Net income was $243K, an increase of $218K compared to $25K for the same period last year.

The company, through its wholly-owned subsidiary Xianburg Data Systems (Canada) Inc., governs and administers the operating entity Xianburg International Data Group Co., Ltd.(XID), a Chinese-based operating company, and earns substantially all of its income from XID. XID is an IT products and services firm based in Xi’an and Beijing, PRC, provides data storage and DR solutions. It believes that it has held a position of advantage over its competitors in providing big data systems solutions since 2010. It has published more than 200 volumes of economic, cultural and business databases and it is a big publisher of such databases in China.