Uniserve’s 2017 year-end results show stunning turnaround
19 September 2017 - 11:01PM
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.
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, 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.
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 several factors.
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