USS Uniserve Communications Corporation

Uniserve Communications Corporation (“Uniserve”) a provider of IT solutions and services to business and residential customers in Canada wishes to announce second quarter fiscal 2022 financial results. Q2 and Q2 year to date fiscal 2022 revenue increased by 12% and 3% respectively as compared to the same periods in the prior fiscal year. Q2 fiscal 2022 Net Income was $136K and Q2 year to date fiscal 2022 Net Income was $265K, as compared to Net loss of $57K and Net loss of $318K respectively for the prior year fiscal periods. The Company will continue to focus on its operating results in fiscal 2022 by continuing to implement operational efficiencies, grow recurring revenues and enhance value added for its customers.

Uniserve Communications Corporation
Condensed interim consolidated statements of comprehensive Income (loss)
(Expressed in Canadian dollars)
	Three months ended November 30						Six months ended November 30
		2021			2020			2021			2020
Revenue	$ 1,834,806			$ 1,642,626			$ 3,635,418			$ 3,528,102
Cost of revenue		989,313			936,127			1,991,909			2,073,851
		845,493			706,499			1,643,509			1,454,251
Expenses
Operations and service delivery expenses		460,430			384,140			900,213			1,130,075
Sales and marketing		140,260			160,401			240,180			264,750
Amortization of property and equipment		88,949			131,422			172,404			236,849
Amortization of intangible assets		14,304			18,614			29,488			38,695
		703,943			694,577			1,342,285			1,670,369
Operating Profit (Loss)		141,550			11,922			301,224			(216,118	)
Other Expenses (Income)
Finance charges		38,066			68,910			82,919			128,399
Gain on foreign exchange		1,127			313			(1,231	)		(26,791	)
Gain on settlements		(30,309	)		-			(38,629	)		-
Finance Income		(3,770	)		-			(7,081	)		-
		5,114			69,223			35,978			101,608
Net and Comprehensive Income (Loss) for the period	$ 136,436			($ 57,301		)	$ 265,246			($ 317,726		)

 

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.

Walter Schultz 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.