For Immediate Release
ADB SYSTEMS REPORTS Q2 2004 FINANCIAL RESULTS
Meets revenue guidance; provides outlook
Toronto, ON –August 11, 2004 – ADB Systems International Ltd. (TSX: ADY; OTCBB: ADBY), a global
provider of asset lifecycle management solutions, today announced interim financial and operational results for its
second quarter ended June 30, 2004. All figures are in Canadian dollars.
Exceeding its previously stated guidance, ADB reported revenues of $1.33 million in the second quarter,
representing a growth of 12 percent when compared to the $1.18 million achieved in the first quarter. In the
second quarter of 2003, ADB generated revenues of $1.40 million. Revenues were comprised of software
license sales, service fees for software implementation, application hosting, maintenance, support and training, and
transaction fees from on-line activities performed for customers.
“By remaining committed to the growth of our joint venture with GE, we did forgo some short-term revenue
opportunities, but are, nonetheless, very encouraged by our overall Q2 results,” said Jeff Lymburner, CEO of
ADB Systems. “As measured by the progress of recent sales and marketing activities, such as the launch of
geassetmanager.com and the signing of a new customer agreement, we are confident that these efforts are in the
best interest of our company and shareholders over the long term.”
ADB recorded a net loss for the period of $1.42 million or $0.02 per share. This compares to a net loss of
$1.39 million in the first quarter and a profit of $526,000 in the same period of 2003 when a one-time gain
relating to a settlement of a demand loan was recorded.
ADB also recorded an EBITDA loss for the period of $983,000. This compares to an EBITDA loss of
$936,000 in the first quarter and $1.09 million for the same period of 2003. When the results of the first six
months of 2004 are compared to the same period of 2003, ADB has reduced its EBITDA loss by 10 percent