Iplayco Announces Financial Results for the First Quarter Ended December 31, 2013 - FOX 8 WVUE New Orleans News, Weather, Sports

Iplayco Announces Financial Results for the First Quarter Ended December 31, 2013

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LANGLEY, BRITISH COLUMBIA — (February 14, 2014) Iplayco Corporation Limited (TSX VENTURE: IPC) ("Iplayco" or the "Corporation") announces its financial results for the first quarter ended December 31, 2013. All amounts are in Canadian dollars unless otherwise noted.

This news release contains financial information derived from Iplayco’s unaudited condensed consolidated interim financial statements for the three months ended December 31, 2013. More detailed information can be found in the unaudited condensed consolidated interim financial statements and Management’s Discussion and Analysis for the three months ended December 31, 2013, which are being filed with the applicable Canadian regulatory authorities.

"Our consolidated sales decreased by 15.9% for the three months ended December 31, 2013 ("Q1-14") to $2,940,536 from $3,495,495 for the three months ended December 31, 2012 ("Q1-13"), with sales by our Manufacturing operations down 16.3% and sales by our Family Entertainment Centre operations down 12.3% in Q1-14 as compared to Q1-13. Our gross profit percentage decreased to 38.0% of sales in Q1-14 from 38.6% in Q1-13. We are expecting a moderate increase in sales and earnings for the three months ended March 31, 2014 as compared to Q1-14" said Scott Forbes, President and Director of Iplayco.

Sales by our Manufacturing operations generated 88.6% of our total sales in Q1-14, compared to 89.1% in Q1-13, and decreased by 16.3% to $2,605,694 in Q1-14 from $3,113,886 in Q1-13. Sales by our Family Entertainment Centre Operations generated 11.4% of our total sales in Q1-14, compared to 10.9% in Q1-13 and decreased by 12.3% to $334,842 in Q1-14 from $381,609 in Q1-13.

Results for the three months ended December 31, 2013 ("Q1-14") as compared to the three months ended December 31, 2012 ("Q1-13")

Sales decreased by 15.9% to $2,940,536 in Q1-14 from $3,495,495 in Q1-13. Gross profit percentage was 38.0% of sales in Q1-14 compared to 38.6% in Q1-13. Operating expenses, including foreign exchange gains and losses and finance costs, were $1,079,358 or 36.7% of sales in Q1-14 compared to $945,667 or 27.1% of sales in Q1-13. Net income in Q1-14 was $24,212, or diluted net income per share of $0.00, compared to net income of $300,226, or diluted net income per share of $0.03, in Q1-13.

Results for the three months ended December 31, 2013 ("Q1-14") as compared to the three months ended September 30, 2013 ("Q4-13")

Sales decreased by 20.8% to $2,940,536 in Q1-14 from $3,711,714 in Q4-13. Gross profit percentage was 38.0% of sales in Q1-14 compared to 33.6% in Q4-13. Operating expenses, including foreign exchange gains and losses and finance costs, were $1,079,358 or 36.7% of sales in Q1-14 compared to $1,120,930 or 30.2% of sales in Q4-13. Net income in Q1-14 was $24,212, or diluted net income per share of $0.00, compared to net income of $93,682, or diluted net income per share of $0.01, in Q4-13.

About Iplayco Corporation Limited

Iplayco custom designs, manufactures and installs premium quality, fun, safe and durable play structures for children worldwide. In its 14-year history, Iplayco has sold play structures to over 50 countries and to 16 different markets, including family entertainment centres, theme parks, shopping malls, restaurants, fitness and health clubs, municipalities, schools, daycare centres, hospitals, zoos and churches. Iplayco also owns and operates a family entertainment centre ("The Great Escape") in Langley, British Columbia. For more information, please visit www.iplaycoltd.com.

Cautionary Note Regarding Forward-looking Statements

This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Corporation’s business, results or future plans, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation’s expectations are disclosed elsewhere in documents that are available to the public.

For more information, please contact:

Iplayco Corporation Limited

Max Liszkowski

Chief Financial Officer and Corporate Secretary

(604) 607-1111

ir@iplayco.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Iplayco Corporation Ltd. was recognized as a TSX Venture 50(R) company in 2014. TSX Venture 50 is a trade-mark of TSX Inc. and is used under license.

ReleaseID: 411954

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