Business
Cyberplex Announces Third Quarter Financial Results for 2006
Cyberplex Announces Third Quarter Financial Results for 2006.
About this update from Eq Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Nov. 13 /CNW/ - Cyberplex Inc. (TSX:CX) today announced\nfinancial results for its third quarter ended September 30, 2006.\nRevenue for the three month period ended September 30, 2006 was\n$1.24 million, down slightly from the $1.29 million generated in the previous\nquarter and lower than the $1.51 million recorded during the same period a\nyear ago. The loss before amortization and interest income for the quarter was\n$114,000 compared to a $54,000 operating loss recorded in the previous quarter\nand the $335,000 operating loss generated during the same period a year\nearlier.\nGross margin for the quarter was 51%, up from the 50% recorded in the\nprevious quarter, and higher than the 46% recorded during the same period a\nyear ago. The Company's top five clients accounted for approximately 66% of\nthe quarterly revenue with 20% of the revenue derived from clients in the\nUnited States. The company finished the quarter with cash and cash equivalents\nof $8.15 million compared to $5.21 million at September 30, 2005.\nAs previously announced, the Company has successfully negotiated a\ntermination agreement for its current leased facility in Toronto. This\ntermination resulted in a reduction to its long-term commitments of\napproximately $13.5 million. As a result of the termination agreement,\nCyberplex will move to a new location in December 2006 and has agreed to pay\nthe landlord a one-time charge of $1.27 million. The Company does not expect\nthis one-time charge to have any impact on its profit and loss statement as a\nprovision for the leased facility had been accounted for in the past.\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),\nScotiabank, SunTrust Banks and the Royal Bank of Canada, Cyberplex is\nfrequently the firm of choice for business leaders looking for reliable\nsolutions. Cyberplex serves clients across Canada and the US, and is\nheadquartered in Toronto, Canada with offices in Arlington, Chicago and\nHalifax.\n\nThis news release may contain certain forward-lo...