Uniserve reports 22% increase in revenue and reduction in operating costs for the 3rd quarter ended February 28, 2019
April 29 2019 - 08:43PM
Uniserve Communications Corporation (“Uniserve”) a
provider of IT solutions and services to business and residential
customers in Canada wishes to announce third quarter fiscal 2019
financial results. Q3 revenues for fiscal 2019 were $3,956K as
compared to $3,253K for Q2 fiscal 2019, an increase of 22%.
Q3 Operating loss was $95K compared to an operating loss of
$758K in Q2. During Q3 the company continued to focus on top
line revenue growth with continued investment in sales personnel
and marketing efforts. Additionally, the effect of a
continued focus on cost reduction and cost savings has resulted in
a significant reduction to operating costs for Q3.
Uniserve Communications
CorporationCondensed Interim Consolidated
Statements of Comprehensive Loss(Expressed in
Canadian dollars)
|
Three months endedFebruary
28,2019 |
|
Three months endedNovember
30,2018 |
|
Nine months endedFebruary
28,2019 |
|
|
$ |
|
$ |
|
$ |
|
|
|
|
|
|
|
|
Revenue |
3,955,560 |
|
3,252,539 |
|
10,245,452 |
|
Cost of Revenue |
2,704,982 |
|
2,043,028 |
|
6,763,895 |
|
|
1,250,578 |
|
1,209,511 |
|
3,481,557 |
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
|
|
Operations and service delivery
expenses |
912,854 |
|
1,566,618 |
|
4,052,137 |
|
Sales and marketing |
276,051 |
|
247,294 |
|
917,729 |
|
Amortization of property and
equipment |
130,062 |
|
123,486 |
|
377,482 |
|
Amortization of intangible assets |
26,341 |
|
29,929 |
|
90,274 |
|
|
1,345,308 |
|
1,967,327 |
|
5,437,622 |
|
|
|
|
|
|
|
|
Operating loss |
(94,730 |
) |
(757,816 |
) |
(1,956,065 |
) |
|
|
|
|
|
|
|
Other expenses (income) |
|
|
|
|
|
|
Finance charges |
79,375 |
|
81,434 |
|
247,789 |
|
Foreign exchange |
41,772 |
|
23,660 |
|
99,074 |
|
Gain on
settlements and reversals of debts |
2,117 |
|
7,555 |
|
24,782 |
|
|
123,264 |
|
112,649 |
|
371,645 |
|
|
|
|
|
|
|
|
Net loss and
comprehensive loss |
(217,994 |
) |
(870,465 |
) |
(2,327,710 |
) |
EBITDA |
61,673 |
|
(604,401 |
) |
(1,488,309 |
) |
About Uniserve
Uniserve Communications Corporation is a
2018 TSX Venture top 50 performance company.Uniserve is a
unified communications company which has been in business for 30
years, combining voice, data and media services all into one
seamless solution, one bill and one point of contact.
Uniserve prides itself on world class customer
service based in Canada. When all else is equal, clients can
trust Uniserve to have a great price, a great experience and to be
a company that customers enjoy working with – we call it “ONE
click, call, connect”.
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 call 604-395-3961 or
email corporate.relations@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.
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