'Strategic structural changes and debt reductions reflect big payoff' VANCOUVER, British Columbia, Sept. 19, 2017 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (the "Company") is pleased to announce fiscal year end results for 2017, ...
'Strategic structural changes and debt reductions reflect big payoff'
VANCOUVER, British Columbia, Sept. 19, 2017 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (the "Company") is pleased to announce fiscal year end results for 2017, showing a 13% increase in revenues to $7.1m, along with a sizeable $756k swing in EBITDA; from a negative ($549k) to a positive $208k. For the fiscal year of 2017, there was an overall net profit of $71k compared to a net loss of ($958K) in 2016.
Uniserve's CEO, Nicholas Jeffery, who joined the Company in March of 2017, commented: "The board and I are delighted with these results as they are even better than we expected. It is an excellent reflection on the massive transformation of our business from a marketing, positioning, product development, core technology and commercial stand point. This builds the solid infrastructure we need to fulfill our goal of doubling revenues annually, going national and strengthening our managed services portfolio."
During the fiscal year, the Company also reduced both long-term and short-term debt by $1.8M, as Uniserve continued its strategic changes and growth strategy.
The Company's recent acquisitions of Glenbriar Technologies and Xanity Cloud Solutions are being integrated seamlessly. The Company is already seeing synergies between the three brands and the upsell opportunities within their various clients and is on track to integrate all the three businesses under the Uniserve brand as they head into a new phase of expansion and growth.
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, across Canada, with offices in Vancouver, Calgary and Waterloo & Toronto Corridor.
The company has been in existence for almost 28 years and has a client base across three sectors, selling directly and through the wholesale and value added reseller channels.
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.
Michael C. Scholz
Chairman of the Board
For more information please contact Mr. Mark Stanton at 604-395-3908 or email us at firstname.lastname@example.org.
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 several factors.
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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