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Cyberplex Announces Second Quarter Financial Results for 2006
Cyberplex Announces Second Quarter Financial Results for 2006.
About this update from Eq Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Aug. 14 /CNW/ - Cyberplex Inc. (TSX : CX) today announced\nfinancial results for its second quarter ended June 30, 2006.\nRevenue for the three month period ended June 30, 2006 was $1.29 million\nup from the $1.22 million generated in the previous quarter and lower than the\n$1.86 million recorded during the same period a year ago. The loss before\namortization and interest income for the quarter was $54,000 compared to a\n$131,000 operating loss recorded in the previous quarter and the $55,000 of\noperating income generated during the same period a year earlier.\nGross margin for the quarter was 50%, up from the 44% recorded in the\nprevious quarter, and higher than the 45% recorded during the same period a\nyear ago. The Company's top five clients accounted for approximately 57% of\nthe quarterly revenue with 40% of the revenue derived from clients in the\nUnited States. The company finished the quarter with cash and cash equivalents\nof $8.14 million compared to $5.13 million at June 30, 2005.\nTwo exciting developments previously disclosed during the quarter\nincluded:\n\n>\n\nThe acquisition of WebAffairs was completed on June 07, 2006. As\ndisclosed in the press release, WebAffairs is unique in its ability to offer\ncomplex technology solutions to small and midsized organizations through long\nterm, recurring licenses by using internally built solutions and interfaces.\nAs a result of these technologies, WebAffairs has been able to leverage their\nintellectual property into a recurring revenue model that the Company hopes to\nbuild upon in the coming quarters.\nOn June 29, 2006, Cyberplex successfully completed a non-brokered private\nplacement for gross proceeds of $3.25 million. As a result of this financing,\nCyberplex further strengthened its balance sheet with over $8.14 million in\ncash. As a result of this transaction, the Company is well positioned to\ncontinue searching for value creating acquisitions.\n\"The second quarter of 2006 was significant for Cyberplex.\" said Geoffrey\nRotstein, chief executive officer of Cyberplex. \"By stabilizing the revenue,\nmoving closer to operational profitability, completing an acquisition and\nclosing a financing, we have positioned ourselves well for the remainder of\n2006.\"\n\nAbout Cyberplex\nCyberplex Inc. (www.cyberplex.com) is a specialized team of man...