Monday, December 14, 2009

TCFKAP's Q4 and fiscal 2009

The company formerly known as PhotoChannel, PNI Digital Media (OTC BB: PNDMF.OB) announced its Q4 and year-end numbers today, PNI Digital Media Announces Fiscal 2009 Year-End and Fourth Quarter Financial Results. It earned 2 cents in the quarter. In the previous comment thread, commenter Homer315 noted that Aaron Edelheit's prediction of a sequential doubling of EBITDA came to pass and noted the company's warning about currency effects in its conference call. I missed that part of the conference call, but I assume the warning related to the challenges of having costs in Canadian dollars and revenues in U.S. dollars when the USD is weak relative to the CAD.

5 comments:

Norman said...

Exactly what did they say about wal-mart? Any other updates of interest on the call?

DaveinHackensack said...

I didn't hear the whole call. I assume they'll have a replay available soon. Re Walmart U.S. they said they'd love to have it as a client but that their growth strategy wasn't dependent on it. They didn't offer any details on any current discussions with WMT.

Homer315 said...

Dave's right about WMT. The company pointed out that the average US/CAN exchange rate for fiscal 2009 was $1.18 CAD per USD. The rate is currently at $1.05 CAD per USD, thus when you look at what their revenue might have been over the last few quarters, had the rate been what it is now, then it would have been a lot lower (he didn't give a slide, but my memory is that it would have been 10-20% lower, solely on account of the exchange rates.

Damn Canadians.

Anonymous said...

Revenue would have been $23.0m if exchange rate averaged $1.05 for the full year, vs $24.4m reported.

Homer315 said...

Yup, anon's right. I went back and re-listened to the CEO's summary of the currency effects, so it wasn't quite that large of a decline in revenue that I posted earlier.