Business
Cyberplex Inc. Reports Record First Quarter 2008 Results
Online Advertising Revenue More than Triples Year-Over-Year TORONTO, May 7 /CNW/ - Cyberplex Inc....
About this update from Eq Inc.
[{"type":"text","content":"\n\n\n\nOnline Advertising Revenue More than Triples Year-Over-Year\n\n\nTORONTO, May 7 /CNW/ - Cyberplex Inc. (TSX: CX) a leader in web\nadvertising solutions, online customer acquisition strategies and technology\ndevelopment, today announced its financial results for the first quarter ended\nMarch 31, 2008.\n\n\nHighlights\n----------\n- Revenue of $7.9 million increases 160% from the previous year\n- Earnings before amortization, interest and other items increased by\n approximately $375,000 to $221,000\n- Positive net income of $52,000\n- In February 2008, the Company closed a $5.0 million private placement\n\n\n"By any measure, this was a blow out quarter," said Geoffrey Rotstein,\nChief Executive Officer of Cyberplex. "Revenue from our performance-based\nonline advertising division set a new record and together with the technology\nservices division, the company generated positive net income. Despite the\ngeneral market conditions, we continue to see rapid growth while delivering\nvalue to all of our clients."\n\n\nOperational Results:\n\n\n--------------------\n\n\nFor the quarter ended March 31, 2008, the Company generated revenue of\n$7.9 million, an increase of $4.9 million or 160% when compared to the\n$3.0 million generated in 2007. This increase resulted directly from our\nonline advertising division, which generated $6.5 million in revenue resulting\nin a year-over-year revenue growth of 221%. Revenue generated from the\ntechnology services division increased 40%, totaling $1.4 million in the first\nquarter of 2008 as compared to $1.0 million in 2007.\n\n\nGross profit for the quarter ended March 31, 2008 was $2.6 million\nresulting in a gross margin of 32% compared to $1.1 million or 36% for the\nsame period last year. During the quarter, the Company implemented diverse\nrevenue models and executed new initiatives to build and strengthen the\nnetwork. Moving forward, the Company expects margins to trend upward as some\nof these programs gain traction and more value is delivered to advertisers and\npublishers. Earnings before amortization, interest and other items was\n$221,000 as compared to a loss of $153,000 incurred in the first quarter of\n2007 and the net income of $52,000 is the first positive quarter of net income\nfor the Company since 2004.\n\n\nIn February 2008, the Company closed a ...