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 ($296K)
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Three Months Ended
February 28 and 29 |
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Year To Date
February 28 and 29 |
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2017 |
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2016 |
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2017 |
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2016 |
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$ |
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$ |
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$ |
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$ |
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| Revenue |
2,208,138 |
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1,624,190 |
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5,638,938 |
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4,680,024 |
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| Cost of Revenues |
1,325,702 |
|
809,613 |
|
3,186,674 |
|
2,348,867 |
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882,436 |
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814,577 |
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2,452,264 |
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2,331,157 |
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| Expenses |
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| Operations and Service
Delivery Expenses |
587,948 |
|
772,845 |
|
1,923,941 |
|
2,251,725 |
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| Sales and Marketing |
87,171 |
|
124,914 |
|
271,500 |
|
375,996 |
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| EBITDA |
207,317 |
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(83,182 |
) |
256,824 |
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(296,564 |
) |
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| Amortization of Property and
Equipment |
92,495 |
|
93,207 |
|
242,643 |
|
259,011 |
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| Operating Profit/(Loss) |
114,822 |
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(176,389 |
) |
14,181 |
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(555,575 |
) |
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| Other Expenses (Income) |
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| Finance Charges |
67,275 |
|
15,061 |
|
374,189 |
|
263,708 |
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| Foreign Exchange |
10,026 |
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(2,667 |
) |
18,850 |
|
7,030 |
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| Gain on Settlements and
Reversals of Debts |
(326,296 |
) |
(555,232 |
) |
(326,296 |
) |
(555,232 |
) |
| Gain on Disposal of Property and Equipment |
(2,397 |
) |
- |
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(2,397 |
) |
- |
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(251,391 |
) |
(542,838 |
) |
64,348 |
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(284,494 |
) |
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| Net Income (Loss) and Comprehensive Income
(Loss) |
366,213 |
|
366,449 |
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(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.
