Cyberplex Reports Second Quarter 2012 Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/09/12 -- Cyberplex Inc. (TSX: CX) a leader in audience targeting and customer acquisition strategies today announced its financial results for the second quarter ended June 30, 2012. Total revenue from continuing operations for the quarter was $3.9 million, an increase from the $2.8 million recorded in the same quarter of 2011, and adjusted EBITDA loss for the quarter was approximately $699,000 as compared to a loss of $822,000 in the same period of 2011. Net income for the quarter was $5.2 million as compared to a net loss of $2.0 million for the same quarter of 2011. Included in net income for the quarter ended June 30, 2012 is $6.3 million of income from discontinued operations (See 'Discontinued Operations' below), primarily related to the gain on the sale of Tsavo Media ("Tsavo"). The loss from continuing operations for the period was $1.1 million compared to a loss of $822,000 in the same period a year ago.
Results for the Second Quarter ended June 30, 2012
Discontinued operations:
On April 24, 2012, the Company sold Tsavo as part of a series of transactions valued at approximately $33 million. The Company reclassified the results of Tsavo to discontinued operations for financial reporting purposes, isolating the Tsavo operating results for the three and six month periods ended June 30, 2012 and 2011 from the remaining continuing operations of Cyberplex. Income for the quarter ended June 30 from discontinued operations of $6.3 million consisted of a gain on sale of Tsavo of $6.3 million and offset by a loss for the period of $25,000 from Tsavo. In connection with the sale, Jeffery Collins is expected to transition from his position as CFO of the Company on or about September 30, 2012.
"Although we still have a lot of work ahead of us, the results this quarter show that our strategic initiatives are beginning to gain traction. With the sale of Tsavo behind us, and top line growth both sequentially and relative to last year, we believe that we can now focus on building our business and delivering quality results to our clients," said Geoffrey Rotstein, President and CEO of Cyberplex.
Normal Course Issuer Bid:
On April 24, 2012, the Company announced a NCIB under which it could purchase up to 11,913,232 of its common shares, representing approximately 10% of the "public float" of common shares, commencing on May 14, 2012 for a period of one year. As of the date of filing the Company has repurchased and cancelled 165,442 of its common shares under the NCIB.
Non-IFRS Financial Measures
This press release includes a discussion of "Adjusted EBITDA," which is a non-IFRS financial measure. The Company defines Adjusted EBITDA as net loss from operations before; (a) depreciation of property and equipment and amortization of intangible assets; (b) stock-based compensation expense, (c) restructuring and acquisition costs, (d) Impairments of goodwill and intangible assets and other items, net. Management uses Adjusted EBITDA as a measure of the Company's operating performance because it provides information related to the Company's ability to provide operating cash flows for acquisitions, capital expenditures and working capital requirements. The Company also believes that analysts and investors use Adjusted EBITDA as a supplemental measure to evaluate the overall operating performance of companies in its industry.
The non-IFRS financial measure is used in addition to and in conjunction with results presented in accordance with the Company's consolidated financial statements prepared in accordance with IFRS and should not be relied upon to the exclusion of IFRS financial measures. Management strongly encourages investors to review the Company's consolidated financial statements in their entirety and to not rely on any single financial measure. Because non-IFRS financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-IFRS financial measures having the same or similar names. In addition, the Company expects to continue to incur expenses similar to the non-IFRS adjustments described above, and exclusion of these items from the Company's non-IFRS measures should not be construed as an inference that these costs are unusual, infrequent or non-recurring.
The table below reconciles net loss from continuing operations and Adjusted EBITDA for the periods presented:
About Cyberplex
Cyberplex Inc. () is a North American leader in audience targeting and customer acquisition strategies. The Company, through its subsidiaries, connects advertisers to their most relevant online customers and prospects. Cyberplex delivers targeted, high quality results through online, mobile and social initiatives that improve advertiser ROI, monetize the value of online properties, and build loyal online audiences.
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.
Contacts:
Cyberplex Inc.
David Katz
EVP Corporate Development
416.597.8889
416.597.2345 (FAX)
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Datum: 09.08.2012 - 20:36 Uhr
Sprache: Deutsch
News-ID 173463
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Software
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