Supplier News
Canada – DEQ grows revenues by a quarter in 2013
By Phil - 3 March 2014
DEQ Systems saw further growth in 2013 with a 25 per cent increase in total revenue to over US$7m for the fiscal year ended November 30, 2013.
The developer of table progressives reported
a 32 increase in product rental revenue to $5,481,000 in 2013 from $4,149,000 in 2012 and 56 per cent compound annual growth rate of product rental revenue over the last three years. For the fourth quarter 2013, DEQ recorded total revenue of $1,927,000, a 19 per cent increase compared to $1,617,000 in the fourth quarter 2012.
“DEQ delivered excellent financial results in 2013 with a 25 per cent increase in revenue and a 32 per cent increase in product rental revenue,” stated François Proulx, Interim Chief Executive Officer and Chief Financial Officer of DEQ. “The
Company also reached a turning point by achieving positive EBITDA resulting from management’s diligent efforts to control spending and create profitable growth. We will pursue the same goal in 2014 and focus on operational efficiencies while continuing to grow our installed base. With more than 2,050 units currently in operation worldwide, generating an estimated $7m in annual recurring revenue, we are very encouraged with the pace of our enhanced roll-out strategy. We continue to target robust market opportunities and we are very confident in the potential growth of all of our product lines in 2014.”
In 2013 DEQ increased its net installation base by 332 units with 67 units during the fourth quarter 2013, at an average lease price of $3,500 per annum, representing an increase of approximately $1,162,000 of new recurring revenue per year.
DEQ has 1,677 directly installed products worldwide and 380 products installed through distributors worldwide for a total installed base of 2,057 products worldwide.
