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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 3rd quarter ...

 

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 3rd 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
February 28 and 29
 Year To Date
February 28 and 29
 
 2017 2016 2017 2016 
 $ $ $ $ 
         
Revenue2,208,138 1,624,190 5,638,938 4,680,024 
Cost of Revenues1,325,702 809,613 3,186,674 2,348,867 
 882,436 814,577 2,452,264 2,331,157 
         
Expenses        
Operations and Service Delivery Expenses587,948 772,845 1,923,941 2,251,725 
Sales and Marketing87,171 124,914 271,500 375,996 
         
EBITDA207,317 (83,182)256,824 (296,564)
         
Amortization of Property and Equipment92,495 93,207 242,643 259,011 
         
Operating Profit/(Loss)114,822 (176,389)14,181 (555,575)
         
Other Expenses (Income)        
Finance Charges67,275 15,061 374,189 263,708 
Foreign Exchange10,026 (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)- 
 (251,391)(542,838)64,348 (284,494)
         
Net Income (Loss) and Comprehensive Income (Loss)366,213 366,449 (50,167)(271,081)

 


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@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

Source(s) : UNISERVE COMMUNICATIONS CORPORATION

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