ATW Tech Announces Revenues of $2.2m for Q1-19

Summary of ATW Tech's results for its first quarter of 2019

MONTREAL, May 17, 2019 (GLOBE NEWSWIRE) ATW Tech Inc. (the “Company”) (TSX-V: ATW) announces its results for its first quarter of 2019:

• For its first quarter of 2019, the Company generated revenues for its continuing operations of $2.2m;
• VuduMobile’s division generated impressive year-over-year revenue growth of 94%;
• Q1-2019 gross margin of 25.4% has improved by 9.7% while compared to Q1-18 (15.7%) and by 6.4% while compared to Q4-18 (19.0%).

“During our first quarter of 2019, the exceptional growth of our VuduMobile’ division continued by almost doubling our SAAS revenues while compared to the same period last year. For the VoxTel’ division, our efforts were made during the quarter to increase the quality and profitability of our customer portfolio in order to improve our margins and profitability in the short, medium and long term,” said President and CEO of ATW Tech, Michel Guay.

The above data includes a summary of highlights. For further information, please consult the Corporation’s consolidated financial statement as well as the Management Report for the period ended March 31, 2019 at www.sedar.com.

Forward-Looking Statements Disclaimer
This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. There is a risk that expectations and forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward-looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company’s filings. While ATW Tech anticipates that subsequent events and developments may cause its views to change, ATW Tech specifically disclaims any obligation to update these forward-looking statements, unless obligated to do so by applicable securities laws.

Additional information regarding the Company is available on SEDAR. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.

ABOUT ATW TECH
ATW Tech (TSX-V: ATW) is a leader in financial technologies (‘fintech’), owner of several web platforms including VoxTel, VuduMobile, Option.vote and Bloomed. VoxTel offers various interactive communication, landline and mobile carrier billing phone solutions. VuduMobile is specialized in text messaging for enterprises through its unique, user-friendly and bilingual text messaging application and turnkey solutions. Option.vote offers a large scale, customizable, and secure multi-method voting system for unions, political parties, professional associations, and others looking for a way to reduce their voting costs and to improve their participation rates. Bloomed is a cloud-based platform to manage data (smart data) on consumers and their behaviors which is developed for marketing agencies and their campaigns for the consumer and corporate markets.