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Cyberplex Revenue Increases 280 Percent
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Location: Blogs News |
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| Posted by: ITNovaScotia Admin |
Tuesday, November 20, 2007 |
TORONTO, Nov. 13 /CNW/ - Cyberplex Inc. (TSX:CX) a leading technology
firm focused on providing web advertising solutions and on-line customer
acquisition strategies, today announced its financial results for the third
quarter ended September 30, 2007.
Revenue for the three month period ended September 30, 2007 was
$4.72 million up 280% from the $1.24 million generated a year earlier and an
increase of 6% from the $4.44 million recognized in the previous quarter. On
an operational basis, the loss before amortization and interest income for the
quarter was $145,000, after accounting for a foreign exchange loss of $210,000
and one-time non-recurring stock compensation expense of $103,000. This figure
compares to a $114,000 operating loss for the same period a year earlier and a
loss of $4,000 generated in the previous quarter.
Gross margin for the quarter was 41%, consistent with the 42% recorded in
the previous quarter and the Company's top five clients accounted for
approximately 30% of the quarterly revenue. The company finished the quarter
with cash and cash equivalents of $1.27 million.
<<
Exciting developments during the quarter included:
1. Completion of the acquisition of Eidenai Innovation Inc.
2. Addition of over 50 new advertising campaigns initiated through the
affiliate network
3. Increase in backlog of over 100% for the services organization
>>
As a result of the Eidenai acquisition, Cyberplex will benefit from the
additional scale to the organization, the new client relationships that can be
developed and the synergies that will result from combining the two
organizations. These benefits, combined with the Company's proprietary
advertising platform, which focuses on performance based customer acquisition,
will create a mutually reinforcing value proposition as the Company continues
its aggressive growth strategy and continues to bring strategic offerings to
its clients.
"We are very pleased with our performance this quarter and the overall
growth for the first 3 quarters of 2007," said Geoffrey Rotstein, chief
executive officer of Cyberplex. "Our increased investments in sales and
marketing, the acquisition of Eidenai, and the momentum that we are
experiencing in our advertising division, will pave the way for an exciting
end to 2007 and into 2008."
About Cyberplex
Cyberplex Inc. (www.cyberplex.com) is a leading technology firm focused
on providing web advertising solutions and on-line customer acquisition
strategies, as well as application expertise and web-based solutions to its
clients. The Company, through its subsidiaries, has developed a proprietary
network of affiliates which combined with advertising relationships and teams
of technology consultants and design, usability and solutions specialists,
assist customers with all aspects of their web-based applications as they
design, develop and promote solutions that deliver results. With over 12 years
of experience serving Fortune 1000 clients including Thomson, Atlantic Lottery
Corporation, Xerox, Advanced Micro Devices (AMD), and the Royal Bank of
Canada, Cyberplex is frequently the firm of choice for business leaders
looking for reliable solutions. Cyberplex serves clients across Canada and the
US, and is headquartered in Toronto, Canada with offices in Arlington, Austin
and Halifax.
Forward-Looking Statements
This news release may contain forward-looking statements that are based
on management's current expectations and are subject to known and unknown
uncertainties and risks, which could cause actual results to differ materially
from those contemplated or implied by such forward-looking statements.
Cyberplex is under no obligation to update any forward-looking statements
contained herein should material facts change due to new information, future
events or otherwise.
<<
CYBERPLEX INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
Three Month Period Ended Nine Month Period Ended
------------------------- -------------------------
September September September September
30, 2007 30, 2006 30, 2007 30, 2006
(unaudited) (unaudited) (unaudited) (unaudited)
------------ ------------ ------------ ------------
Revenue $ 4,715,515 $ 1,240,947 $12,189,994 $ 3,751,135
Cost of sales 2,771,737 608,960 7,302,318 1,937,808
------------ ------------ ------------ ------------
Gross Profit 1,943,778 631,987 4,887,676 1,813,327
Expenses
Sales and marketing
expenses 1,090,959 230,908 2,567,757 596,075
General and admin-
istrative expenses 998,131 515,484 2,621,992 1,517,055
------------ ------------ ------------ ------------
2,089,090 746,392 5,189,750 2,113,130
Loss before the
undernoted (145,312) (114,405) (302,074) (299,803)
Amortization of
capital assets 72,151 68,153 188,426 200,977
Amortization of
Intangible assets 107,220 40,360 302,442 50,360
------------ ------------ ------------ ------------
Loss from operations (324,683) (222,918) (792,942) (551,140)
Interest income 8,850 76,341 50,743 172,320
Loss before income
taxes (315,833) (146,577) (742,199) (378,820)
Income tax recovery
Current - - - -
Future 35,257 - 105,771 -
------------ ------------ ------------ ------------
Net income (loss) $ (280,576) $ (146,577) $ (636,428) $ (378,820)
------------ ------------ ------------ ------------
------------ ------------ ------------ ------------
Other comprehensive
Income (loss)
Unrealized gain
on marketable
securities (2,969) - (753) -
------------ ------------ ------------ ------------
Total comprehensive
income (283,546) (146,577) (637,182) (378,820)
------------ ------------ ------------ ------------
------------ ------------ ------------ ------------
Deficit - beginning
of the period (1,494,881) (65,078,989) (1,139,029) (64,846,746)
Reduction in stated
capital 64,997,231 64,997,231
Deficit - end of
period $(1,778,427) $ (228,335) $(1,776,211) $ (228,335)
------------ ------------ ------------ ------------
------------ ------------ ------------ ------------
Weighted average
number of common
shares - basic 42,717,839 32,648,219 42,297,860 32,542,820
Weighted average
number of common
shares - diluted 42,717,839 32,648,219 42,297,860 32,542,820
Basic earnings (loss)
per share $ (0.01) $ (0.00) $ (0.02) $ (0.01)
Diluted earnings
(loss) per share $ (0.01) $ (0.00) $ (0.02) $ (0.01)
>>
For further information: investor@cyberplex.com
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