Paxys, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 11, 2018 at 07:37 pm
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Paxys, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported service income of PHP 19,345,000 against PHP 17,306,000 a year ago. Interest income was PHP 23,315,000 against PHP 17,958,000 a year ago. Income before income tax was PHP 3,689,000 against loss of PHP 2,384,000 a year ago. Net income was PHP 3,311,000 or PHP 0.004 per basic and diluted share against loss of PHP 2,384,000 or PHP 0.003 per basic and diluted share a year ago.
For the nine months, the company reported service income of PHP 46,645,000 against PHP 58,769,000 a year ago. Interest income was PHP 61,672,000 against PHP 51,313,000 a year ago. Income before income tax was PHP 10,665,000 against PHP 5,169,000 a year ago. Net income was PHP 10,287,000 or PHP 0.013 per basic and diluted share against PHP 5,169,000 or PHP 0.006 per basic and diluted share a year ago. Net cash provided by operating activities was PHP 27,607,000 against net cash used in operating activities of PHP 17,830,000 a year ago. Acquisition of property and equipment and intangibles was PHP 9,029,000 against PHP 461,000 a year ago. Loss from operations was PHP 58,266,000 against PHP 49,262,000 a year ago. EBITDA was PHP 12,012,000 against PHP 6,291,000 a year ago. Book value per share as at September 30, 2018 was PHP 1.85.
Paxys Inc. is a Philippines-based investment holding company. The Company operates through its subsidiary, Scopeworks Asia, Inc. (SWA), which is an export-oriented business process outsourcing company. SWA provides outsourcing services, including data transcription services, customer service, facilities and support services, and back-office services to domestic and foreign institutions, as well as to multinational companies based in the Philippines and abroad. The Company operates through two segments, namely Outsourcing and Others. The Outsourcing segment includes primarily facilities management. The Others segment includes the operations of the parent company.