Business
Ciscom Significantly Improves Operational Results in 2024
Toronto, Ontario--(Newsfile Corp. - April 3, 2025) - CISCOM Corp. (CSE: CISC) (OTCQB: CISCF) ("Ciscom" or "the Company"), which actively invests in, acquires, and manages companies within the Information and Communication Technology ("ICT") sector with a specialty in AdTech and MarTech, is pleased to announce that it has filed its audited consolidated financial statements and management's discussion and analysis ("MD&A") for the year ended December 31, 2024. The financial statements show that Ci
About this update from Ciscom Corp.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - April 3, 2025) - CISCOM Corp. (CSE: CISC) (OTCQB: CISCF) ("Ciscom" or "the Company"), which actively invests in, acquires, and manages companies within the Information and Communication Technology ("ICT") sector with a specialty in AdTech and MarTech, is pleased to announce that it has filed its audited consolidated financial statements and management's discussion and analysis ("MD&A") for the year ended December 31, 2024. The financial statements show that Ciscom's revenues were stable year-over-year, and its cash-basis operating results (EBITDA) before non-recurring impairment charge more than doubled year-over-year - an impressive organic growth. The financial statements and the related MD&A are available on www.sedarplus.ca.","length":830,"tagName":"p"},{"type":"text","content":"Ciscom's subsidiaries have principally served the retail sector and sales are aligned to this sector. As a result, historically a significant portion of its sales occurs in the last 4 months of the year. The Canada Post Corporation ("CPC") labor dispute in the fall of 2024 disrupted business and sales overall as direct mail could not be distributed and clients cancelled campaigns. Consequently, the CPC labor dispute negatively impacted the Company's Q4 2024 sales and gross profit. Gross profit was negatively impacted by an amount of approximately $750,000. Still, the Company was able to maintain its gross profit within approximately 1% year-over-year at $6.8M, relative to $6.9M in 2023.","length":713,"tagName":"p"},{"type":"text","content":"The Company achieved sales of $35.018M in 2024 versus $35.160M in 2023, a minimal decrease of $0.142M or 0.4%. Gross profit for 2024 was $6.822M versus $6.906M in 2023, a small reduction of $0.084M or 1.2%. Gross margins remained stable at 19.5% versus 19.6% respectively.","length":272,"tagName":"p"},{"type":"text","content":"Ciscom achieved a cash-based operating profit (EBITDA) of $2.032M in 2024, a significant increase of $1.048M (106.4% - more than double) when compared to the EBITDA of $0.984M in 2023. This performance is in part due to the effectiveness of Ciscom's cost reduction initiatives, which have saved over $0.6M annually across various operational areas.","length":352,"tagName":"p"},{"typ...