Uniserve Communications Corporation: Financial Results for the Three Months Ended August 31, 2013
October 30 2013 - 4:41PM
Marketwired Canada
Uniserve Communications Corporation (TSX VENTURE:USS) (the "Company") wishes to
announce the results for the three months ended August 31, 2013, as follows:
Three Months Ended
Aug. 31, 2013 Aug. 31, 2012
Revenue $ 1,576,377 $ 1,821,399
Cost of revenues 890,544 900,613
Gross margin $ 685,833 $ 920,786
Expenses
Operations and service delivery expenses $ 619,942 $ 751,055
Amortization of property and equipment 186,625 81,602
Amortization of intangible assets 3,693 3,025
Amortization of deferred finance costs - 3,873
Sales and marketing 207,054 101,506
$ 1,017,314 $ 941,061
Operating profit (loss) $ (331,481) $ (20,275)
During the three months ended August 31, 2013, the Company reported an operating
loss of $331,481 compared to a loss of $20,275 in the same period last year. The
Company's EBITDA for the quarter was $(141,000) compared to $(27,000) for the
same quarter last year. The growth in revenue that the Company expects to occur
as a result of its sales initiatives has begun but has not yet reached the level
needed to overcome the natural churn in accounts. The decrease in gross margin
was primarily a result of the additional upfront costs related to the new
security division.
Uniserve Communications Corporation (TSX VENTURE:USS) is an industry leader in
the integration and delivery of voice, data and cloud computing services to
businesses and retail consumers throughout Canada. For more information about
Uniserve, its products and services please visit www.uniserve.com.
This news release was prepared on behalf of the Board of Directors, which
accepts full responsibility for its contents.
Bruce Sanderson, President and CEO
For more information please contact Investor & Corporate Relations at
604-395-3922 or invest@uniserve.com, or visit www.uniserve.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the contents of this News 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Uniserve Communications Corporation
Investor & Corporate Relations
604-395-3922
invest@uniserve.com
www.uniserve.com
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