We plan to expand to the US in the second half of 2023 while continuing to expand in Canada, with a focus on Eastern Canada. We have started to spend time researching the market and believe there is an opportunity to grow revenue. We have had preliminary conversations with customers in the United States and believe there is an opportunity to expand our services to the USA. We believe our integrated model of security tower rentals, coupled with uncompromising service is truly unique. Todd Ziniuk, President & CEO said: "We continue to see strong demand for our MobileyeZ security towers. Zedcor has continued to allocate security towers to Eastern Canada as it expands its service capabilities in Eastern Canada. These towers are being utilized at construction and automotive customer sites. This compares to $1.4 million of adjusted EBITDA for the three months ended March 31, 2022.ĭuring the quarter, the Company has allocated approximately 18% of its MobileyeZ security tower fleet to Ontario.
Zedcor recorded $2.1 million of adjusted EBITDA for the three months ended March 31, 2023.
This represented a 39% increase in revenues compared to Q1 2022 and a 75% increase in net income for March 31, 2023. Q1 2023 revenues were $6.4 million and the Company had net income before income taxes of $0.8 million or $0.01 per share. (TSXV: ZDC) (the "Company") today announced its financial and operating results for the three months ended March 31, 2023.
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