Business
Cyberplex Revenue Increases 243 Percent
Cyberplex Revenue Increases 243 Percent.
About this update from Eq Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Aug. 9 /CNW/ - Cyberplex Inc. (TSX:CX) a leader in building and\npromoting on-line business solutions, today announced its financial results\nfor the second quarter ended June 30, 2007.\n\n\nRevenue for the three month period ended June 30, 2007 was $4.44 million\nup 243% from the $1.29 million generated a year earlier and an increase of 46%\nfrom the $3.04 million recognized in the previous quarter. During the quarter,\nthe Company invested heavily in its sales and marketing initiatives which\nhelped generate the revenue growth and set the foundation for future\nperformance. On an operational basis, the loss before amortization and\ninterest income for the quarter was $4,000 compared to a $54,000 operating\nloss for the same period a year earlier and a loss of $153,000 generated in\nthe previous quarter. Included in this figure for the quarter was a foreign\nexchange loss of $130,000, a one time non-recurring charge of $41,000, and\nstock-based compensation expense of $30,000.\n\n\nGross margin for the quarter was 42%, up from the 36% recorded in the\nprevious quarter, primarily resulting from the improved margins realized from\nour advertising division. The Company's top five clients accounted for\napproximately 34% of the quarterly revenue with 78% of the revenue derived\nfrom clients in the United States. The company finished the quarter with cash\nand cash equivalents of $2.02 million compared to $3.12 million at March 31,\n2007.\n\n\n"We are very pleased with our performance this quarter and the overall\ngrowth for 2007," said Geoffrey Rotstein, chief executive officer of\nCyberplex. "Our strategy of building a recurring revenue model is unfolding\nsuccessfully and our increased investments in sales and marketing are helping\nfuel our growth to establish a critical mass across the organization."\n\n\nOperational Results:\n\n\nRevenue from on-line advertising grew significantly on sequential basis\nand year over year. For the three month period ended June 30, 2007, revenue\nfrom on-line advertising increased to $3.39 million, compared to the\n$2.04 million recorded in the previous quarter, an increase of $1.35 million.\nGross margin for the period was 41%, an increase from the 35% realized in the\nprevious quarter. Revenue from technology services of $1.05 million was up\nfrom the $1.00 ...