Business
Cyberplex Announces Fourth Quarter and Year-End Financial Results for 2005
Cyberplex Announces Fourth Quarter and Year-End Financial Results for 2005.
About this update from Eq Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, March 27 /CNW/ - Cyberplex Inc. (TSX: CX), one of North\nAmerica's leading technology consulting firms, today announced financial\nresults for the fourth quarter and the year ended December 31, 2005.\nFourth quarter revenue of $1.39 million was lower than the $1.51 million\nin revenue from the previous quarter and down from the $2.38 million recorded\nduring the same period a year ago. The loss for the quarter, before\namortization, interest income, goodwill impairment and various one time\naccruals was $340,000, consistent with the loss of $335,000 realized in the\nprevious quarter and down from the operating profit of $362,000 generated\nduring the same period a year earlier.\nGross margin for the quarter was 42%, down from 46% generated in the\nprevious quarter and the largest five accounts in the quarter accounted for\napproximately 61% of revenue. During the fourth quarter, 43% of the Company's\nrevenue was derived from accounts located in the United States.\nRevenue for the year ended December 31, 2005 was $7.24 million, down 22%\nfrom the $9.37 million recorded during 2004. The loss before amortization and\ninterest income was $628,000 compared with a profit of $1.56 million generated\na year earlier, and the net loss for the year was $1.13 million, or $0.03 per\nshare.\n\"2005 was a transitional year for Cyberplex\" said Geoffrey Rotstein,\nPresident and CEO of Cyberplex. \"Although the second half of the year was\ndifficult, our balance sheet is strong. With over $5.28 million in cash and\nshort-term investments, we believe we are in a position to take advantage of\nthe opportunities that lie ahead. Our focus continues to be on growing the\nbusiness profitably, and management is committed to building a stronger\ncompany, both through organic growth and selected acquisitions, that will\ndeliver value to its shareholders\"\n\nAbout Cyberplex\nCyberplex Inc. (www.cyberplex.com) is a specialized team of management\nand technology consultants who are dedicated to helping clients enhance,\nautomate and manage technology solutions that improve business processes.\nWith over 12 years of experience serving Fortune 1000 clients including\nThomson, Atlantic Lottery Corporation, Advanced Micro Devices (AMD), Bank of\nMontreal (BMO), Scotiabank, SunTrust Banks and the Royal Bank of Canada,\nCyberplex is frequently...