If you arrive by ferry at the port in Olbia, follow the signs for “Tempio-Telti”, go past n.122/C of Via Vittorio Veneto and immediately after the AGIP petrol station, turn right in Via Aspromonte. At N.7
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Hey chubby sweetheart, the headache is too damn bad? Keep it up, doctor Jake is on his way! Watch our dude come and give this heavy cutie a very, very thorough checkup. When his hands were all over her giant rack and super delicious tummy, she forgot about the headache forever. Abusing the position of a doctor? No, taking full care of a patient! Se how Jake rips into these soft mounds of sexy flesh with his boner giving the mounds a good grab at the same time. The prescription? A tit cum shot!	
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Jake here is a smart bastard, we should give him that. When he saw a sexy piece of BBW flesh in the mall, he went up to the girl right away. He could see she was browsing the mags, so he started talking to her about how the fashion business twists the perception of female beauty. She got the message all right, and very soon Jake was having her on his couch, playing with her big welcoming pussy. She was so hungry for a fuck and took every thrust of Jake's throbbing dick as a blessing. Watch the lucky guy take it slow, play with every inch of her awesome body, and shoot all over her in the end.	
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Mikey could feel that was a special day. No luck so far but he wasn't quitting, oh noes. It was some sort of an empty street, and he saw this beautiful hottie on the tram stop, alone and obviously bored. Mikey approached her, threw in a few compliments, and there she was, happy to follow him. The dude did a great job, he just never stop saying how hot she was! And boy was she. When it all came to action, Mikey spent a while playing with her super gorgeous and super big rack. Then, he explored her curves and cracks one by one, and soon his dick was ramming into her with full speed and hardness. Wow!	
You might say this is too easy a choice, but hey, the rules of the wager never said you cannot actually buy a hooker. So, here's our buddy Jake, making a few calls and asking for the fattest hooker they got. And look at this beauty! Tall, blonde, long legs, and a rack which could kill you. She's a bit surprised he uses the scales first but hey what the fuck does she care, she's on the clock! Jake then proceeds to stab her with his rock hard dick, covering her big, long, thick melons with his cream in the end.	
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A pretty, plus-sized blonde was on her way home from work when she caught the eye of a cute guy on the street. He commented on how beautiful her hair was, and she was immediately attracted to him. They talked for a minute before going back to her apartment. In no time, they went from discussing the weather to being completely naked and aroused. He had a great time massaging and kissing the fat babe's large, squishy breasts and soft, plump body. Her mouth watered so much for the stud's cock during her skillful, erotic blowjob. Tumbling on the comfortable bed, they made love in several positions - including doggy and missionary - until they both reached wonderful orgasms that made their toes curl with pleasure.	
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Intrinsyc Reports Quarterly Revenue of US$6.1 Million (for Growth of 35% over Prior Year) | T-Net News
Vancouver, BC, May 10, 2018--(T-Net)--Intrinsyc Technologies Corporation (TSX: ITC), a leading provider of solutions for the development of intelligent connected devices, today announced its financial results for the first quarter ended March 31, 2018.
Intrinsyc achieved year over year revenue growth of 35% in the first quarter of fiscal 2018, with Adjusted EBITDA of US$307,631 (CDN$389,061), net income of US$124,149 (CDN$160,080), and earnings per share of US$0.01 (CDN$0.01).
The strong revenue growth was a result of increased shipments of embedded computing hardware to new and existing clients. Revenue was US$6.1 million (CDN$7.7 million) which was an increase from US$4.5 million (CDN$5.9 million) in the first quarter of fiscal 2017.
"The Company continues to grow our client base and increase hardware revenue from our Open-Q™ embedded computing modules," said Tracy Rees, Chief Executive Officer, Intrinsyc Technologies Corporation. "New Design Wins and Production Wins, which are important drivers for revenue growth, increased respectively from 50 to 54, and 22 to 24, during the first quarter. Our clients are attracted by the Company's off-the-shelf and custom embedded computing solutions which lead the industry in performance, function, and reliability, as well as our strong expertise in product development. To continue our momentum, we are investing in our engineering capabilities and new product development."
Rees added, "We are pleased to have reached an agreement with Stream TV Networks on our strategic investment and additional purchase commitment of US$1,500,000 in services to be purchased directly by Stream or through referrals to connected third parties."
Announced two new production wins with the receipt of initial orders valued at US$287,000. The Company also signed product development services agreements and hardware orders from existing clients valued at US$342,000.
Announced the attainment of a new production client for the Company's Open-Q™ 820 computing module and receipt of orders, last week that are in aggregate valued in excess of US$500,000. The new client placed an initial order for the Company's Open-Q™ computing modules that is valued at approximately US$205,000. The Company also signed a product development services agreement with an existing client that is valued at approximately US$311,000. Hardware shipments and services are expected to be provided during the first and second quarters of 2018.
Announced the availability of two new platforms to support development of Smart Home Hub and other Voice-Controlled products.
Announced the general availability of a new Hardware Development Kit ("HDK") featuring the Qualcomm® Snapdragon™ 845 Mobile Platform, a product of Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated.
Established a subsidiary and engineering center in Bangalore, India to add engineering resources for new product development and client projects.
The Company reported first quarter revenue of US$6.1 million (CDN$7.7 million), up 35% over the same period in the prior year of US$4.5 million (CDN$5.9 million) but down 11% over the prior period of US$6.8 million (CDN$8.7 million). The increase in revenue over the comparative period in the prior year was due primarily to increased revenue from the sale of hardware products.
Gross margin[2] in the first quarter of fiscal 2018 was 32%, which was lower than the 35% gross margin in the comparative periods. Decrease in gross margin over the comparative periods was due to the change in revenue mix, which saw a significant increase in revenues from the Company's Embedded Computing Hardware business which has a lower gross margin than the Company's engineering services, and a decrease in engineering services revenues. Adjusted EBITDA was as follows:
Three months ended March 31, 2018 Three months ended December 31, 2017(Restated)[3] Three months ended March 31, 2017(Restated)
The Company had net income of US$124,150 (CDN$160,080) in the three months ended March 31, 2018 compared to net income of US$96,966 (CDN$125,028) in the same period in the prior year and net income of US$453,547 (CDN$570,087) in the prior quarter.
Working capital[4] as of March 31, 2018 was US$12.5 million (CDN$16.2 million) inclusive of cash and short-term investments of US$6.9 million (CDN$8.8 million). This is compared to net working capital of US$12.4 million (CDN$15.5 Million) as of December 31, 2017 inclusive of cash and short-term investments of US$7.3 million (CDN$9.1 million).
Please see the audited consolidated financial statements and related Management's Discussion & Analysis ("MD&A") for more details. The audited consolidated financial statements for the three months ended March 31, 2018 and related MD&A have been reviewed and approved by Intrinsyc's Audit Committee and Board of Directors. Intrinsyc recognizes that the majority of its investors are now accessing Intrinsyc's corporate and financial information either through pushed news services, directly from www.intrinsyc.com or SEDAR. Thus, Intrinsyc has prepared this truncated news release to alert investors to its results and that a more detailed explanation and analysis is readily available in the MD&A. These reports have been filed on SEDAR at www.sedar.com and also posted at www.intrinsyc.com.
Financial information is reported in United States dollars and in accordance with International Financial Reporting Standards ("IFRS").
Intrinsyc Technologies Corporation is a product development company that provides comprehensive and tailored solutions that enable the development and production of next-generation embedded and IoT devices. Solutions span the development life cycle from concept to production and help device makers and technology suppliers create compelling differentiated products with faster time-to-market. Intrinsyc is publicly traded (TSX: ITC and OTC: ISYRF) and is headquartered in Vancouver, BC, Canada.
[1] Non-IFRS measure that does not have a standardized meaning and may not be comparable to a similar measure disclosed by other issuers. The closet comparable IFRS financial measure is Operating Income (Loss). Adjusted EBITDA referenced here relates to operating income (loss) inclusive of revenue reclassified as interest income (as per IFRS) less other operating expenses.
[2] Gross Margin is a non-IFRS measure that does not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. Gross margin referenced herein relates to revenues less cost of sales.
[3] These numbers have been restated to account for the impact of IFRS 15. Additional details on IFRS 15 are discussed in the Critical Accounting Policies and Estimates section of the MD&A and Note 3 to the Interim Condensed Consolidated Financial Statements.
[4] Non-IFRS measure that does not have a standardized meaning and may not be comparable to a similar measure disclosed by other issuers. This measure does not have a comparable IFRS measure. Working capital is defined as current assets less current liabilities.
The following and preceding discussion of financial results includes reference to Gross Margin, Adjusted EBITDA and Working Capital, which are all non-IFRS financial measures. The measure of gross margin is provided as management believes this is a good indicator in evaluating the operating performance of the Company. Adjusted EBITDA is defined as operating income (loss) inclusive of revenue reclassified as interest income (as per IFRS) less other operating expenses. The measure is provided as a proxy for the cash earnings from the operations of the business as operating loss for the Company includes non-cash amortization and depreciation expense and share-based compensation which are classified as other operating expenses. The measure of working capital is provided as management believes this is a good indicator of the operating liquidity available to the Company.
This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involve risks and uncertainties. Such forward-looking statements or information may include financial and other projections as well as statements regarding the Company's future plans, objectives, performance, revenues, growth, profits, operating expenses or the company's underlying assumptions. The words "may", "would", "could", "will", "likely", "expect," "anticipate," "intend", "plan", "forecast", "project", "estimate" and "believe" or other similar words and phrases may identify forward-looking statements or information. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Company's actual future results or performance may be materially different. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to: the need to develop, integrate and deploy software solutions to meet the Company's customer's requirements; the possibility of development or deployment difficulties or delays; a customer's decision to cancel or fail to proceed with a commitment to purchase units of the Company's products contained in an executed purchase order; the dependence on the Company's customer's satisfaction; the timing of entering into significant contracts; customers' continued commitment to the deployment of the Company's solutions; reliance on products manufactured by other companies for resale or distribution and reliance on third-party suppliers; the performance of the global economy and growth in software industry sales; market acceptance of the Company's products and services; the success of certain business combinations engaged in by the Company or by its competitors; possible disruptive effects of organizational or personnel changes; technological change, new products and standards; risks related to international expansion; concentration of sales; international operations and sales; dependence upon key personnel and hiring; reliance on a limited number of suppliers; industry growth; competition; intellectual property; product defects and product liability; currency exchange rate risk; and other factors described in the Company's reports filed on SEDAR, including its Annual Information Form and financial report for the year ended December 31, 2017. This list is not exhaustive of the factors that may affect the Company's forward-looking information.
These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Intrinsyc provides hardware, software, and service solutions that enable companies to build next-generation mobile and embedded products.
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