EX-1 3 dex1.txt THIRD QUARTER FINANCIAL RESULTS EXHIBIT 1 ADB Systems International Inc. (formerly Bid.com International Inc.) Consolidated Statement of Operations (expressed in thousands of Canadian dollars, except per share amounts) (Canadian GAAP, Unaudited) --------------------------------------------------------------------------------
Three Months Ended Nine Months Ended ---------------------------------------------------------------------------- September 30 September 30 ---------------------------------------------------------------------------- 2001 2001 2000 2001 2001 2000 ---------------------------------------------------------------------------- (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) (in US$) (in US$) translated translated into US$ at into US$ at Cdn$ 1.5797 Cdn$ 1.5797 for for convenience convenience Revenues $ 619 $ 392 $ 1,669 $ 3,289 $ 2,082 $ 11,275 Less: Customer acquisition costs (37) (23) -- (56) (35) (157) ---------------------------------------------------------------------------- Net Revenue 582 369 1,669 3,233 2,047 11,118 ---------------------------------------------------------------------------- General and administrative 947 599 4,402 6,184 3,915 12,380 Sales and marketing costs 736 466 1,034 3,362 2,128 1,687 Software development and technology expense 690 437 260 2,464 1,560 985 Depreciation and amortization 302 191 270 940 595 760 Direct expenses -- -- 1,392 -- -- 11,164 Advertising and promotion -- -- 367 -- -- 4,936 Interest Income (35) (22) (77) (308) (195) (382) ---------------------------------------------------------------------------- 2,640 1,671 7,648 12,642 8,003 31,530 ---------------------------------------------------------------------------- Loss before the undernoted (2,058) (1,302) (5,979) (9,409) (5,956) (20,412) Realized gains and losses on disposals of marketable securities, strategic investments and recovery of assets (77) (49) 20,697 6,669 4,222 20,697 Unrealized gains and losses on revaluation of marketable securities, strategic investestments and provision for impairment of assets (1,091) (691) (3,438) (2,225) (1,408) (3,868) Restructuring charge (255) (161) -- (868) (549) -- Retail activities settlement -- -- -- (404) (256) -- ---------------------------------------------------------------------------- (1,423) (901) 17,259 3,172 2,009 16,829 ---------------------------------------------------------------------------- NET (LOSS) INCOME FOR THE PERIOD $ (3,481) $ (2,203) $ 11,280 $ (6,237) $ (3,947) $ (3,583) ---------------------------------------------------------------------------- (LOSS) EARNINGS PER SHARE $ (0.06) $ (0.04) $ 0.21 $ (0.11) $ (0.07) $ (0.07) ----------------------------------------------------------------------------
ADB Systems International Inc. (formerly Bid.Com International Inc.) Consolidated Balance Sheet (expressed in thousands of Canadian dollars) (Canadian GAAP, Unaudited) --------------------------------------------------------------------------------
September 30 September 30 December 31 ---------------------------------------------------------------- 2001 2001 2000 ---------------------------------------------------------------- (unaudited) (unaudited) (audited) (in US$) translated into US$ at Cdn$ 1.5797 for convenience Cash $ 6,752 $ 4,274 $ 7,363 Marketable securities 1,992 1,261 8,124 Other current assets 560 354 1,881 Other assets 2,500 1,583 3,433 ---------------------------------------------------------------- Total assets $ 11,804 $ 7,472 $ 20,801 ================================================================ Current liabilities $ 1,419 $ 898 $ 2,086 Short term and long term deferred revenue 689 436 2,796 Long term debt 24 15 59 Total shareholders' equity 9,672 6,123 15,860 Total liabilities and ---------------------------------------------------------------- shareholders' equity $ 11,804 $ 7,472 $ 20,801 ================================================================