exactEarth Reports Q3 Fiscal 2017 Financial Results
Summary
CAMBRIDGE, ON, Sept. 14, 2017 /CNW/ - exactEarth Ltd. ("the Company"), a leading provider of Satellite AIS ("S-AIS") data services, announces its financial results for the three- and nine-month periods ended July 31, 2017. Mr. Mabson added, "As of today, our 16-satellite constellation includes nine exactView RT payloads in service, with additional launches expected through the end of this year and into 2018. SG&A increased year-over-year and in the third quarter due primarily to activity related to the launch of exactView RT, the Companys second-generation satellite constellation with real-time S-AIS feeds, and the implementation of a sales and financial software system. The lower amount of cash used in operations in Q3 2017 reflects the ongoing efforts the Company is taking to closely manage – and reduce where possible – its cost base. This ground-breaking system provides a comprehensive picture of the location of AIS equipped maritime vessels throughout the world and allows exactEarth to deliver data and information services characterized by high performance, reliability, security and simplicity to large international markets.
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