Fiscal year to date revenues up 24% VANCOUVER, British Columbia, Jan. 26, 2018 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (Uniserve) (TSX.V:USS), one of Canada's premier providers of tech solutions in voice, data and media services for ...
Fiscal year to date revenues up 24%
VANCOUVER, British Columbia, Jan. 26, 2018 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (Uniserve) (TSX.V:USS), one of Canada's premier providers of tech solutions in voice, data and media services for home and business customers, is pleased to announce second fiscal quarter 2018 financial results.
Q2 revenue increased by 19% vs 2017, with 2018 year to date revenues up 24%. 2018 Q2 EBITDA - ($644K CAD) vs. Q1- ($500K CAD).
The Company finished the first quarter with:
- Gross revenues for fiscal Q2 year-to-date of $4.26M CAD vs $3.43M CAD or a 24% increase over same period last year.
- Operating expenses for Q1/Q2 year-to-date rose to $2.59M CAD vs 2017 year-to-date operating expenses of $1.34M CAD, primarily due to costs associated with major data centre upgrades, two acquisitions, and TV development and connectivity between Toronto and Vancouver.
- Q2 2018, EBITDA loss of $644K CAD, vs Q1 2018 loss of $446K CAD, primarily due to a peak in acquisition staffing and the associated costs of purchase and consolidating two acquisitions during the quarter.
Key highlights in second fiscal quarter of 2018:
- Terminal Edge Data Centres major upgrade was completed.
- The Glenbriar acquisition and integration was completed with sales, customer service and billing platforms all moved to one common CRM and billing platform.
- Vancouver DC redundancy was completed in the Toronto data centre.
- Uniserve TV was developed and moved from beta to introductory price offerings in both BC and Alberta.
- New Transit small business IT bundles were completed.
- New coax cable connectivity offering was completed throughout Alberta.
- Smart City practice was launched servicing cities in the Lower Mainland.
- With significant new Glenbriar managed service client increase, Uniserve ramped up customer service and tier 1 &2 support teams, doubling the size of its telesales and field sales team in BC and Alberta.
- Marketing was increased with the complete overhaul of the Uniserve website, an integration of GB and Xanity Cloud product offerings and a full content section on managed services being created.
- External marketing activity increased in Q2 with major outdoor Digital and Billboard ad campaigns in Vancouver and Edmonton.
A financial table accompanying this announcement is available at //www.globenewswire.com/NewsRoom/AttachmentNg/2a7ae84b-1568-4903-a9f0-2070880f57ab
Uniserve (TSX-USS.V) 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 most 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 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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