Ann: RECORD PERFORMANCE - 500% INCREASE IN REVENUE FOR Q4, page-7

RECORD PERFORMANCE - ~500% INCREASE IN REVENUE FOR Q4
HIGHLIGHTS
• Fee for Service division continues record performance and growth
• ~500% increase in customers receipts banked for Q4 to ~$300,000
• ~100% increase in contracted work on hand to ~$920,000
• Over $1,100,000 of additional development contracts quoted
Applabs Technologies Ltd (“Applabs” the “Company”) (ASX Code: ALA) is pleased
to provide an update on the performance of its Fee for Service division. Since the
Company’s last announcement dated the 21st August 2014, the division has
continued to grow with yet another record quarterly performance.
Fee for Service Division Update
Contracts executed during the financial year to date have now increased to
~$920,000 from ~$460,000. The Company currently has 21 projects underway with
varying completion dates and payments based on development milestones.
The Company has also banked approximately $300,000 in customer receipts for the
quarter ending 31st of December 2014, a ~500% increase from the previous quarter.
Over $1,100,000 in potential new contracts have also been quoted and the
Company continues to work with these clients on progressing through to a
development contract in the near term.
Applabs Managing Director, Mr Patrick Glovac, commented;
“The growth achieved in the Fee for Service division is an excellent result for
shareholders as the Company continues to build on the Applabs brand. Importantly,
with over $1,100,000 in additional new contracts quoted, we are confident that the
record accelerated growth can continue through the first half of 2015.”