Lightscape Technologies’s Financial Results Analysis

sarafan — Thu, 21 Aug 2008 06:22:24 +0000

It’s reported that Lightscape Technologies Inc., an operator of outdoor LED billboards and provider of LED solutions, reported financial results on August 14 for the fiscal first quarter ending June 30, 2008.

Total net revenue for the three months ended June 30, 2008 was $1,558,707 representing a 91% increase from the total net revenue of $814,896 for the three months ended June 30, 2007. The increase in net revenues is primarily attributable to the increase in sales and contract revenue from LED solutions and the increase in sales of lighting source products.

Specifically, Operating expenses, consisting of selling and marketing expenses and general and administrative expenses, for the three months ended June 30, 2008 were $1.13 million, compared with $0.87 million for the three months ended June 30, 2007. Selling and marketing expenses decreased approximately 19% to $163,975 from $195,307 for the three months ended June 30, 2007. The decrease was mainly due to decreased advertising expenses and staff costs. General and administrative expenses increased by 23% during the three months ended June 30, 2008 to $936,794 from $758,800 for the three months ended June 30, 2007. The increase was mainly due to increased staff and business development costs for the three months ended June 30, 2008 to provide the foundation to support the Company's anticipated overall business growth, particularly its LED outdoor advertising and LED solutions businesses.

Lightscape incurred capital expenditures of $2,814 during the three months ended June 30, 2008 and $90,174 for the three months ended June 30, 2007. The decrease in capital expenditures for the three months ended June 30, 2008 as compared to June 30, 2007 was mainly attributable to decreased purchases of equipment.

Besides, Net loss for the three months ended June 30, 2008 was $0.99 million, or $0.02 per fully diluted share, compared to a net loss of $1.32 million, or $0.04 per fully diluted share, for the three months ended June 30, 2007.

About Lightscape Technologies

Lightscape Technologies Inc. is one of the leading digital media and LED solutions companies in Asia. Through a joint venture agreement, Lightscape is building an outdoor LED media network in China focused on LED billboards in prime locations. The Company also designs, markets, sells and installs large-scale LED video screens and LED systems, operates outdoor LED advertising billboards, and provides LED screen rentals. Lightscape is headquartered in Hong Kong, and the Company has offices in Singapore, China and Macau.

Lightscape Technologies Forms Strategic Partnership With Major Advertising Agency

Emma — Tue, 06 May 2008 07:53:26 +0000

Lightscape Technologies Inc. (OTCBB: LTSC), an operator of outdoor LED billboards and provider of LED solutions, today announced that it has signed an agreement with a unit of Ogilvy & Mather Group, a leading global advertising agency, in order to secure advertising contracts for Lightscape's growing LED media network in China and Hong Kong.

The agreement establishes a framework through which Lightscape will offer its portfolio of large-scale, high-resolution LED billboards to clients of Ogilvy & Mather as they develop their advertising and media-planning strategies. In addition, Ogilvy & Mather will refer suitable new LED billboard locations to Lightscape, which will subsequently be developed by Lightscape to further enhance the breadth of its network. Lightscape's growing network of LED billboards and its full-service LED solutions capability presents a highly attractive advertising channel for global brands that want to reach affluent consumers in Hong Kong and China. To strengthen the commitment of this partnership, Royce Yuen, Chairman of Ogilvy & Mather Group in Hong Kong has become a member of Lightscape's Advisory Board.

Bondy Tan, President and CEO of Lightscape, commented, "We are very pleased to form this relationship with Ogilvy & Mather, a global leader with an impressive client roster of some of the world's most recognizable consumer brands. This agreement is the latest in a series of strategic partnerships that Lightscape has entered to realize its goal of becoming the leading outdoor LED media company in Asia."

Lightscape is rapidly building up its LED billboard media network in prime locations in Hong Kong, and also in China through its joint venture arrangement with a subsidiary of New World TMT Ltd announced in February of this year.

"This partnership with Ogilvy & Mather affirms that Lightscape's growing network of LED billboards has the breadth and reach required to attract top-tier advertisers," continued Tan. "We are well positioned to capture the enormous potential of the outdoor LED advertising market."

Royce Yuen commented, "We're pleased to team up with Lightscape to offer our clients the most cutting-edge media channels to both attract new customers and reaffirm their global positioning. LED panels provide a unique alternative for advertisers to expose their brands in a dynamic and interactive manner in the market. This 360 degree method of customer engagement is indeed what we believe and practice in effective brand management."

Ogilvy & Mather is one of the largest full-service advertising agencies in the world, operating in 125 countries including offices in Hong Kong and all major cities in China.
Founded in 1948, the company is a subsidiary of the WPP Group, the world's largest communications services group. Ogilvy & Mather builds brands for a client list which includes major multi-national companies as well as prominent China domestic brands.

New World TMT Ltd. is the parent company of Lightscape's partner in a joint venture agreement to build an outdoor LED billboard network in China. The properties where the LED billboards are being installed by the joint venture are owned by New World TMT Ltd.'s parent the New World Group.

About Lightscape Technologies

Lightscape Technologies Inc. (OTCBB: LTSC) operates outdoor LED billboards and provides LED lighting solutions. The company designs, markets, sells and installs large-scale LED screens and LED lighting systems, operates outdoor LED advertising billboards, and provides LED screen rentals. Through a joint venture agreement, Lightscape is building an outdoor LED media network in China focused on LED billboards in prime locations. Lightscape also manufactures and sells HID (High-Intensity Discharge) lighting products and Ultra High-Pressure Mercury Lamps. Lightscape is headquartered in Hong Kong, and the company has offices in Singapore, China and Macau.