CPL Announces its Results for the Third Quarter of 2007
November 29 2007 - 1:41PM
Marketwired
MONTREAL, QUEBEC , a leading provider of customer support
application systems, today reported its third quarter results for
the period ended september 30, 2007. All figures are in Canadian
dollars unless otherwise indicated.
For the three months period ended September 30, 2007, the
revenues of the Company were 505,628 $ compared to 579,600 $ during
the same period in 2006, that is to say a fall of 12.7%. During the
third quarter the Company modified its long-term vision in order to
put its priority on the development of the Company by the means of
acquisition. This new vision brought important changes in the Board
of Directors and in the management of the company. This
reorganization generated nonrecurring expenses of reorganization,
of almost $213,000, which were entered during the last quarter.
Moreover, this reorganization is also responsible for the
deceleration in the sales during first half of the quarter, in
September the 2007 sales took again the strength of the last
years.
The revenues during the nine months period of 2007 raise to 1,75
M$, that is an increase of 3,2% compared to the same period during
the same period in 2006. The net earnings for the nine months
period ended on September 30, 2007 is 25,015 $ or 0.0019$ per
share, compared to a net earnings of 161,371$ or 0.0124$ during the
same period last year.
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Financial highlights Quarter ended Nine months period ended
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September September September September
(in Canadian dollars) 30, 2007 30, 2006 30, 2007 30, 2006
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Revenues $505 629 $579 600 $1 756 477 $1 701 567
EBITDA $(67 865) $180 349 $226 732 $426 748
EBITDA margin (13.4)% 31.1 % 12.9 % 25.1 %
Net earnings (net loss) $(97 997) $81 143 $25 015 $161 371
Net earnings (net loss)
per share
- Basic $(0.0074) $0.0062 $0.0019 $0.0124
- Fully diluted $(0.0074) $0.0058 $0.0017 $0.0115
Total assets $2 403 530 $2 005 695
Long term debt
(including the
current portion) $269 458 $251 987
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During the third quarter 2007, the Company modified its
long-term vision in an important way, this changes caused major
modifications within the Board of Directors and the management of
the Company. The Company being at a stage of its growth requiring a
vision more centered on strategic acquisitions. The Board of
Directors is now made up with directors having greater experience
in the integration of the undertaken acquired or amalgamated.
In September 2007 CPL took the steps for the acquisition of Net
Marketing Solutions Inc., controlled by Mr. Roger Plourde by the
means of the company Groupe Proselect Inc., and the acquisition of
Groupe XiV inc. a company held by the Maloin Group. These
companies' mainly works in the personalization and the deployment
of marketing solution assisted by internet. These solutions allow
our client to increase effectiveness of their marketing campaigns
on Internet.
"Currently, the Company is in a process of development by the
means of acquisition. Our good position, as much technological as
financial, today allows us to attract solid strategic partner. We
took the steps with an aim of concluding a transaction with the
Company Netmarketing Solutions Inc. The Company gave an evaluation
mandate to a specialized firm to establish the exchange price of
the share with the aim of concretizing this acquisition. As soon as
this evaluation is carrying out the Company will be able to inform
the shareholders of the exact nature of the transaction." Specifies
Mr Roger Plourde, president and chief executive officer of CPL.
Change on the Board of Directors.
In September 2007, within the framework of the reorganization,
Mr. Jean-Claude Desaulniers and Mr. Jonathan Allaire resigned as
directors of the Company. Those were replaced by Mr. Real
Desjardins, independent director and by Mr. Stephan Larouche
representing of the Cooperative des Travailleurs Actionnaires de
CPL.
ABOUT CPL TECHNOLOGIES
CPL Technologies is a recognized leader in request management
solutions and the developer of the leading Helpdesk and Customer
Service solution C2Enterprise. Since 1994, it has dedicated its
efforts to delivering unique solutions to the issues facing the
Customer Service industry. The Company delivers applications that
are flexible, scalable and easy to use. Over the years, CPL has
acquired a wide range of customers in a diverse array of
industries. Its client portfolio includes renowned companies such
as Ubisoft, CGI and Orange Mobile, among others. For more
information please visit our website at www.cpl-inc.com
CPL Technologies' consolidated financial statements and the
MD&A for the third quarter ended September 30th 2007, are
available on SEDAR (www.sedar.com).
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Except for historical information provided herein, this press
release may contain information and statements of a forward-looking
nature concerning the future performance of CPL Technologies. These
statements are based on suppositions and uncertainties as well as
on management's best possible evaluation of future events. The
business of the Company and these forward-looking statements are
subject to a number of risks and uncertainties that could cause
actual results to differ from expected results. A description of
risk factors are discussed in the Company's Annual MD&A and
Annual Information Form, filed with the securities regulatory
authorities in Canada. The Company's business, financial condition
or operating results could be materially adversely affected if any
of these risks and uncertainties were to materialize. Given these
risks and uncertainties, investors should not place undue reliance
on forward-looking statements as a prediction of actual
results.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: CPL Technologies Inc. Roger Plourde President and CEO
1-866-978-1200 ext.1218 450-978-6665 (FAX) rplourde@cpl-inc.com