Pollard Banknote

Pollard Banknote

POLLARD BANKNOTE ANNOUNCES 1ST QUARTER FINANCIAL RESULTS; CONTINUED GROWTH IN REVENUE AND EBITDA


WINNIPEG, Manitoba, May 5, 2014 /CNW/ – Pollard Banknote Limited (TSX: PBL) (Pollard Banknote) today released its financial results for the three months ended March 31, 2014.

“Our first quarter financial results reflect the continuing strong business fundamentals experienced by Pollard during the start of 2014 and we are pleased both about the actual results and the potential growth we see in our business,” stated John Pollard, Co-Chief Executive Officer. “The significant revenue growth, both compared to the same time last year and the more recent quarters, is reflective of both higher sales volumes and improved average selling price. Sales of our licensed games and proprietary products such as Scratch FX® were also very high during the quarter.”

“Particularly satisfying is the growth in our EBITDA of approximately 23% compared to the same period last year, indicating the investments we have made in our business are paying dividends through improved value creation.”

“Based on our confidence in the market, and our ongoing success in growing our top line and winning new work, we were very pleased to have announced recently the purchase of a new advanced press line. When operational in the spring of 2015, this press will provide substantial increased capacity as well the ability to reduce our ongoing operating cost structure.”

“The lottery industry, and in particular the instant ticket product segment, remains very robust and we are pursuing a number of strategies to both expand our market share and capitalize on new opportunities such as digital and internet related gaming (or iLottery).”

About Pollard Banknote Limited
Pollard Banknote Limited is one of the world’s leading full-service lottery vendors and is a major supplier to North America’s charitable gaming industry. The company manufactures instant lottery tickets and provides related programming, design, and marketing support. As well, Pollard Banknote manufactures pull tab tickets and bingo paper, and supplies lottery management services (including warehousing and distribution). Established in 1907, Pollard Banknote is owned approximately 73.5% by the Pollard family and 26.5% by public shareholders and currently serves more than 50 lotteries worldwide, including some of the largest and most respected lotteries in the United States, Canada, Europe, Asia, and Central and South America.

Forward-looking Statements
Certain statements in this press release may constitute “forward-looking” statements and information which involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. When used in this document, such statements include such words as “may,” “will,” “expect,” “believe,” “plan,” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this document. There should not be an expectation that such information will in all circumstances be updated, supplemented, or revised whether as a result of new information, changing circumstances, future events, or otherwise.

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FOR MORE INFORMATION, CONTACT:

Doug Pollard (dpollard@pbl.ca)
Co-Chief Executive Officer
Phone: (204) 474-2323
Fax: (204) 453-1375

John Pollard (jpollard@pbl.ca)
Co-Chief Executive Officer
Phone: (204) 474-2323
Fax: (204) 453-1375

Rob Rose(rrose@pbl.ca)
Chief Financial Officer
Phone: (204) 474-2323
Fax: (204) 453-1375