Business
Route1 Reports Q3 Fiscal 2005 Financial Results
Route1 Reports Q3 Fiscal 2005 Financial Results.
About this update from Route1 Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Nov. 24 /CNW/ - Route1 Inc. (TSX-V:ROI) today reported its third\nquarter financial results for the period ended September 30, 2005. The results\ndon't reflect the Company's restructuring of its complete sales organization\nunder the leadership of Mike Larkin, 25-year Bell Canada sales and marketing\nveteran.\n\"We're looking forward to having Mike on board to move our major\ninitiatives forward and build on our selling partnerships with multinational\norganizations,\" said Andrew White, Route1 CEO. \"The sales team changes coupled\nwith our recent introduction of the MobiKEY places the company in a position\nto establish revenue momentum.\"\nThe Company achieved revenues of $32,640 for the three months ended\nSeptember 30, 2005 compared to $19,337 for the prior period ended June 30,\n2005. Net loss was $1,703,561 or $0.01 per share for the quarter ended\nSeptember 30, 2005 versus loss of $952,168 or $0.008 per share for the\ncomparable period in fiscal 2004. For the nine months ended September 30, 2005\nrevenues were $51,977 and the net loss was $4,227,648 or $0.03 per share.\nCurrent assets were $3,690,332 which included $2,259,236 in cash and cash\nequivalents. Current liabilities were $165,093. The Company had a weighted\naverage number of 134,462,332 common shares outstanding as at September 30,\n2005. For complete financial statements please visit www.sedar.com.\n\nTeleconference Webcast\n\nRoute1 will host an investor teleconference webcast today at 4:30 pm ET.\nAndrew White, CEO, and John Denham, VP Finance and CFO, will lead a\npresentation and answer questions about the Company's progress. Participants\nare invited to call 416-644-3414 or visit\nhttp://www.route1.com/investors/investor_webcasts.htm at least 5 minutes prior\nto the start of the conference. The audio webcast will replay for 30 days.\n\nAbout Route1\n\nRoute1 is an innovator in secure, mobile thin-clients. The Company's Mobi\nSolution bridges the gap between business agility and data security allowing\nindividuals and organizations to assuredly support their mobile office,\nregulatory compliance, business growth and business continuity needs. Route1's\nsolution consists of unique mobile devices and software integrated with a\nmanaged secure connectivity service. The Company is listed on the TSX Venture\nExchange (symbol:ROI) with office...