Iplayco Corp (CVE:IPC) shares were rising Tuesday after the maker of children's play structures said it has signed two new sales agreements for a value of C$2.2 million total to design, manufacture and install large indoor play equipment for a customer in the Middle East.
This comes on top of C$1.2 million in orders from the Middle East last month, as well as C$1.6 million from Western Asia in April and three orders for C$1.9 million in February for more customers in the Middle East.
"We are very pleased to announce that we have entered into these two new sales agreements, which are expected to be substantially realized in our operating results over the six-month period ending December 31, 2014," said president and director Scott Forbes.
Iplayco, which ranked among the top 10 best performing companies in the diversified industries sector on the TSX Venture Exchange last year, has sold play structures to over 50 countries and to 16 different markets, including family entertainment centres, theme parks, shopping malls, restaurants, hospitals, zoos, churches and more. It also owns and operates a family entertainment centre, called The Great Escape, in Langley, British Columbia, where Iplayco is headquartered.
Iplayco grew sales by over 46% last year, while net income also rose substantially. The Langley, British Columbia-based company can attribute its overall success in 2013 to large orders from mall owners, especially in the Middle East, from where Iplayco received five $1 million plus orders, alongside an almost $2 million project from The Children's Museum in Las Vegas.
For the company's second fiscal quarter, or the three months to March 31, sales climbed 4.5% to $3.37 million from $3.22 million in the same period last year, as sales from its manufacturing operations advanced 6.8% to $2.9 million and sales from its family entertainment centre unit dropped 9.2% $0.4 million.
Iplayco also predicted at the time of its second quarter results release a significant rise in sales and earnings in the current quarter due to a strong sales backlog.
The company, which sees its strong growth tide continuing as it looks to expand to the BRIC nations, has seen its share price more than double in the last 12 months. Its stock is up 50% since the beginning of the year, and is trading today at 90 Canadian cents, up 3.45%. It has a 52-week high of 95 cents. Reported by Proactive Investors 2 hours ago.
This comes on top of C$1.2 million in orders from the Middle East last month, as well as C$1.6 million from Western Asia in April and three orders for C$1.9 million in February for more customers in the Middle East.
"We are very pleased to announce that we have entered into these two new sales agreements, which are expected to be substantially realized in our operating results over the six-month period ending December 31, 2014," said president and director Scott Forbes.
Iplayco, which ranked among the top 10 best performing companies in the diversified industries sector on the TSX Venture Exchange last year, has sold play structures to over 50 countries and to 16 different markets, including family entertainment centres, theme parks, shopping malls, restaurants, hospitals, zoos, churches and more. It also owns and operates a family entertainment centre, called The Great Escape, in Langley, British Columbia, where Iplayco is headquartered.
Iplayco grew sales by over 46% last year, while net income also rose substantially. The Langley, British Columbia-based company can attribute its overall success in 2013 to large orders from mall owners, especially in the Middle East, from where Iplayco received five $1 million plus orders, alongside an almost $2 million project from The Children's Museum in Las Vegas.
For the company's second fiscal quarter, or the three months to March 31, sales climbed 4.5% to $3.37 million from $3.22 million in the same period last year, as sales from its manufacturing operations advanced 6.8% to $2.9 million and sales from its family entertainment centre unit dropped 9.2% $0.4 million.
Iplayco also predicted at the time of its second quarter results release a significant rise in sales and earnings in the current quarter due to a strong sales backlog.
The company, which sees its strong growth tide continuing as it looks to expand to the BRIC nations, has seen its share price more than double in the last 12 months. Its stock is up 50% since the beginning of the year, and is trading today at 90 Canadian cents, up 3.45%. It has a 52-week high of 95 cents. Reported by Proactive Investors 2 hours ago.