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ID Watchdog Announces First Quarter 2015 ResultsDENVER, May 21, 2015 /PRNewswire/ --
ID Watchdog, Inc. (TSX VENTURE: IDW) (PINKSHEETS: IDWAF) ("ID Watchdog" or the "Company"), provider of consumer-facing identity theft protection and resolution services, today announced its results for the first quarter ended March 31, 2015. All amounts are in U.S. dollars. 1st Quarter 2015 Highlights:
ID Watchdog CEO, Michael Greene, stated, "I am thrilled with our first quarter Employee Benefit Channel growth as we added a number of significant brand name employers to our roster of clients, which drove our Employee Benefit Channel revenue growth for the quarter by 138.4% and total revenue growth by 60.6%. We also delivered nicely improved gross margins and Adjusted EBITDA margins of 72.6% and 12.8%, respectively." Mr. Greene continued, "In early January we expanded our call center hours to 24 x 7 to further improve our customer experience and we are planning to introduce new product enhancements to our identity theft protection services during 2015."
About Non-IFRS Financial Measure To supplement the Company's consolidated financial results presented in accordance with International Financial Reporting Standards ("IFRS"), the Company reports adjusted EBITDA (net income (loss) before deducting net interest expense, income tax expense, depreciation and amortization, share-based compensation, and gain (loss) on warrant liability) and uses this metric to measure the performance of our business. Adjusted EBITDA is not a performance measure defined under IFRS and is not considered an alternative to income (loss) from operations or net earnings (loss) in the context of measuring the Company's performance. Adjusted EBITDA does not have a standardized meaning and is therefore not likely to be comparable with similar measures used by other publically traded companies. Adjusted EBITDA should not be used as an exclusive measure of cash flow since it does not account for the impact of working capital changes, income taxes, interest payments, capital expenditures, debt principal reductions and other sources and uses of cash, and is not meant to be considered in isolation or as a substitute for financial information prepared in accordance with IFRS. Financial information contained in this press release should be read in conjunction with the consolidated financial statements and notes thereto included in our most recent quarterly reports and our annual report. These documents are available online at www.sedar.com and in the "Company Overview" section of our website at www.IDWatchdog.com. About ID Watchdog, Inc. ID Watchdog was founded in 2005 and is headquartered in Denver, Colorado. The Company provides three-tiered comprehensive monitoring, detection and resolution for identity theft. ID Watchdog proactively detects identity theft problems at their source and provides immediate resolution services to ensure complete peace of mind for individuals. All the Company's services have been developed with input from industry experts; national consumer advocacy groups; federal, state, and local law enforcement agencies; consumer protection agencies; and adhere to guidelines published by the Consumer Federation of America. For more information, please visit www.IDWatchdog.com. Forward-Looking Statement This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 which address future events and conditions which are subject to various risks and uncertainties. The actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed in the company's filings with Canadian regulators at www.sedar.com. ID Watchdog assumes no obligation to update the forward-looking statements of management beliefs, opinions, projections, or other factors should they change. Neither 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. Company Contact: Logo - http://photos.prnewswire.com/prnh/20130829/NY71341LOGO To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/id-watchdog-announces-first-quarter-2015-results-300087605.html SOURCE ID Watchdog, Inc. |