BusinessNews

DFNN Touts Over 15,000% Net Income Growth in 9M2017

I.T. firm DFNN Inc. (PSE: DFNN) continued its robust financial performance for the first nine months of 2017 (9M2017), with revenues of PhP848.5 million, 616% higher than the PhP118.5 million reported in the same period of 2016.

DFNN’s EBITDA reached PhP142.8 million, up 668.9% from the same period in 2016. Total operating expenses grew by 382.2% year-on-year to reach PhP711.8 million from PhP147.6 million last year.

Additionally, the company reported a net income of PhP121.3 million—a surge of 15,062.5% from the PhP0.8 million disclosed in the first three quarters of 2016. The increased expenses are largely due to the continued expansion activities such as the build out of the DFNN Technology Campus in Silang, Cavite. The facility hosts DFNN’s customer service, technical support, I.T. and development teams. Several more satellite offices are slated for construction in Cebu City and New Clark City in 2018.

Similar to DFNN’s first half results in 2017, the notable improvements are attributed to the company’s increased platform affiliates. Affiliated sites that use the company’s technology platform increased by 158.6%, from this time last year, while the number of terminals using its gaming products increased by 389.9%.

“We take pride in our performance for the first nine months of the year and with the steady growth of DFNN’s affiliate partners,” DFNN CEO Ramon C. Garcia Jr. stated. “Given our continued focus on improving operating efficiencies and distribution numbers, we expect to maintain this upward trajectory and to improve our operating margins.”

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