Business
Cyberplex Inc. Reports a Strong Second Quarter 2008
Revenue More Than Doubles Year-Over-Year TORONTO, Aug. 7 /CNW/ - Cyberplex Inc. (TSX: CX) a leade...
About this update from Eq Inc.
[{"type":"text","content":"\n\n\n\nRevenue More Than Doubles Year-Over-Year\n\n\nTORONTO, Aug. 7 /CNW/ - Cyberplex Inc. (TSX: CX) a leader in web\nadvertising solutions, online customer acquisition strategies and technology\ndevelopment, today announced record second-quarter results and its 7th\nconsecutive quarter of revenue growth. Cyberplex's total consolidated revenue\nfor the second quarter of 2008 was $9.5 million, an increase of 114% over the\n$4.4 million reported for second quarter of 2007.\n\n\nFinancial Highlights\n--------------------\n\n - CX Digital Media, Cyberplex's online advertising division, increased\n revenue by 151% to $8.5 million, when compared to the previous year.\n - Earnings before amortization, interest and other items increased to\n over $350,000, an increase of 58% from $221,000 last quarter.\n - Net income grew to $206,522, an increase of 300% from the previous\n quarter.\n - Sequential quarterly revenue growth of over 20%.\n - Secured an operating line of credit of $5.0 million from the Royal\n Bank of Canada.\n\n\n"Cyberplex delivered another outstanding quarter," said Geoffrey\nRotstein, President and CEO, Cyberplex Inc. "The second quarter demonstrated\nthe strategic value of our performance-based marketing solutions and our\nteam's ability to deliver in very difficult market conditions. Notwithstanding\nthe macro-economic cross-currents, our business pipeline remains healthy, and\nwe are confident in our ability to execute. In addition, by securing the\n$5.0 million operating line, we believe we have more than sufficient capital\nto fund our business plan for the foreseeable future."\n\n\nSecond Quarter Highlights\n-------------------------\n\n - Canadian Business Magazine ranked Cyberplex Inc. as one of the Top\n 100 Technology Companies in Canada.\n - CDN Magazine ranked Cyberplex Inc. as one of Canada's Top 100\n Solution Providers.\n - Branham Group ranked Cyberplex Inc. as the 3rd top Mover and Shaker\n in Canada, and also the 6th fastest growth company in Canada.\n - Average revenue per customer grew by over 5% quarter over quarter.\n\n\n"Looking ahead, we see many growth opportunities for Cyberplex as we\ncontinue to aggressively strengthen our online advertising division - CX\nDigital Media, grow into new and adjacent markets and expand our presence\naround the globe," Rotstein add...