Kaohsiung-05/15/2015-Brogent Technologies Inc. ("Brogent" or the "Company") announced the first quarter 2015 revenue of NT$117 million, and a net loss of NT$0.04 per basic common share for the first quarter ended March 31, 2015.
Due to unfavorable factors of global exchange rates, a foreign exchange loss occurred. In addition, some of the revenue was deferred due to the delayed construction work of clients. As a result, the company wasn’t able to recognize some parts of the first quarter 2015 revenues according to its accounting principles, Percentage of Completion (PoC) method.
Brogent’s first CitiPark was expected to open in the beginning of 2015 in Taiwan, but postponed to this summer. With the grand opening of CitiPark, Brogent will start to recognize its profits through the admission ticket revenue sharing plan. The company also expects the speed up the process of perspective contracts on-hand. With a solid growth of the flight theater i-Ride in the global market and the completion of projects in Europe and North America in early 2016, a prosperous second half of 2015 is expected to come.
To secure a sustainable future, the company has switched on its 2C strategy since 2014. Combining “Channel” and “Content,” Brogent will be able to transform from a theme park attraction supplier to a co-operator in the entertainment business. The revenue will also been converted from solely relying on one-time equipment sale to various sales models, including revenue-sharing and IP licensing. Investors are looking forward to the vertical effects to become reality through the alliance between Kodansha and Brogent.