International Financial Wire
(Thomson Reuters ONE) -
Uniserve's Q3 results show continued revenue boost
'Structural and financing changes show significant payoff'
VANCOUVER, British Columbia, April 27, 2017 -- Uniserve Communications
Corporation (the "Company") is pleased to announce the 3(rd) quarter 2017
financial results. Year to date revenue increases by 20%.
The Company finished the quarter with:
* Gross revenues for the 2017 year to date of $5.64M vs 2016 year to date of
$4.68M representing a 20% increase
* Year to date operating expenses decreased to $2.2M from $2.6M or 15.4%
* A positive 2017 year to date EBITDA of $256K vs 2016 loss of ($296K)
Three Months Ended Year To Date
February 28 and 29 February 28 and 29
2017 2016 2017 2016
$ $ $ $
Revenue 2,208,138 1,624,190 5,638,938 4,680,024
Cost of Revenues 1,325,702 809,613 3,186,674 2,348,867
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882,436 814,577 2,452,264 2,331,157
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Expenses
Operations and Service
Delivery Expenses 587,948 772,845 1,923,941 2,251,725
Sales and Marketing 87,171 124,914 271,500 375,996
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EBITDA 207,317 (83,182 ) 256,824 (296,564 )
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Amortization of Property and
Equipment 92,495 93,207 242,643 259,011
Operating Profit/(Loss) 114,822 (176,389 ) 14,181 (555,575 )
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Other Expenses (Income)
Finance Charges 67,275 15,061 374,189 263,708
Foreign Exchange 10,026 (2,667 ) 18,850 7,030
Gain on Settlements and
Reversals of Debts (326,296 ) (555,232 ) (326,296 ) (555,232 )
Gain on Disposal of Property
and Equipment (2,397 ) - (2,397 ) -
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(251,391 ) (542,838 ) 64,348 (284,494 )
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Net Income (Loss) and
Comprehensive Income (Loss) 366,213 366,449 (50,167 ) (271,081 )
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A significant part of third quarter results can be directly attributed to the
Company's 29% reduction in operating expenses. Uniserve continues to focus on
strengthening its infrastructure, its leadership group and its investment in new
business products as well as interprovincial data storage redundancy.
With the recent introduction of Nicholas Jeffery as the new CEO, several new key
board members, new branding, new website and product lines, the company will
continue to focus on accelerating sales growth, in both its business and
residential product offerings.
With the successful January private placement completed, the company is in a
secure financial position for strategic acquisitions, partnerships and growth.
Uniserve's CEO, Nicholas Jeffery: "The company is now in a great place for
substantial growth, particularly with the recent launch of our 'Transit' small
business bundles, as well as new residential internet pricing."
About Uniserve
Uniserve (TSX-V:USS) is a unified communications company delivering integrated
voice, data and media services to over 13,000 customers within the residential,
business to business and enterprise IT markets, currently focusing on Western
Canada.
The company has been in existence for almost 28 years and has a client base
across three sectors selling directly and through the wholesale channel.
The recent corporate restructuring has resulted in the majority of the board and
management team being replaced, culminating in the hiring of Nicholas Jeffery
the new CEO from Europe, who has a wealth of internet service provider and
managed service company experience.
Uniserve prides itself on delivering world class customer services. They believe
when all else is equal you can trust the company to offer highly competitive
pricing and cutting edge technology bundles, all underpinned by an exemplary
customer service team based in Canada.
This news release was prepared on behalf of the Board of Directors, which
accepts full responsibility for its contents.
Learn more at www.uniserve.com or at www.sedar.com.
Michael C. Scholz
Chairman of the Board
For more information please contact Mr. Mark Stanton at 604-395-3908 or email us
at mark.stanton(at)uniserveteam.com.
Neither TSX Venture Exchange nor its Regulations Services Provider (as the term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. Management has prepared this
release and no regulatory authority has approved or disapproved the information
contained herein. The statements contained in this news release that are not
historical facts are forward looking statements. Such statements are based on
management's estimates, assumptions and projections using available information.
Uniserve cautions that actual financial results could differ materially from the
current expectations due to a number of factors.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: UNISERVE COMMUNICATIONS CORPORATION via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 28.04.2017 - 02:45 Uhr
Sprache: Deutsch
News-ID 538985
Anzahl Zeichen: 7094
contact information:
Town:
Vancouver, BC
Kategorie:
Business News
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"International Financial Wire"
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