DFNN earnings surge on higher platform use

MANILA, Philippines — Earnings of publicly listed IT firm DFNN Inc. skyrocketed in the first nine months of this year as its platform affiliates continue to increase.

In a statement, DFNN said its net income surged to P121.3 million, up 15,062 percent from just P0.8 million in the first three quarters of 2016.

Revenues reach P848.5 million, 616 percent higher than the P118.5 million reported in the same period last year.

DFNN said the notable improvements in the financial performance this year can be attributed to the company’s increased platform affiliates.  Affiliated sites that use the company’s technology platform went up by 158.6 percent while the number of terminals using its gaming products increased by 390 percent.

“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 Garcia Jr. said. “Given our continued focus on improving operating efficiencies and distribution numbers, we expect to maintain this upward trajectory and to improve our operating margins.”

In the same nine-month period, total operating expenses grew 382.2 percent year-on-year to reach P711.8 million, from P147.6 million last year.

DFNN said 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, IT and development teams. Several more satellite offices are slated for construction in Cebu City and New Clark City in 2018.