Business
Monexa Technologies Corp. Reports Q1 2011 Results
May 20, 2011 (Canada NewsWire Group) -- VANCOUVER, May 20, 2011 /CNW/ - Monexa Technologies C...
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[{"type":"text","content":"\n\n\n May 20, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, May 20, 2011 /CNW/ - Monexa Technologies Corp. (TSXV: MXA)\n today announced its quarterly results for the three-month period ended\n March 31, 2011. The financial statements were prepared in accordance\n with International Financial Reporting Standards.\n\n\nFor the three months ended March 31, 2011, revenue totaled $828K, a 6%\n decrease from $886K in the corresponding quarter in 2010 but when\n compared to Q4 2010 revenue, Q1 2011 revenue increased by 13% or by\n $109K ($828K vs. $719K). The net loss for the quarter was ($278K), a\n 36% improvement from the ($433K) loss incurred in Q1 2010.  As compared\n to Q4 2010 the Q1 2011 net loss dropped by $140K or 33% ($278K vs.\n $418K). EBITDA loss for the quarter was ($127K) down from ($362K) loss\n in the corresponding quarter in 2010. As compared to EBITDA Q4 2010 the\n Q1 EBITDA loss was lower by $275K ($127K vs. $362K).\n\n\nJohn Jacobson, President and CEO, said, "The Monexa team has made\n considerable progress in the first quarter. Financially we're stronger\n now, and we made some great progress with both new and existing\n clients. We expanded our Pitney Bowes relationship and we launched a\n new bricks-and-mortar retail system in conjunction with a major\n reseller. The retail system has rolled out faster than we originally\n expected, and by end of April 2011, more than 4,000 retail stores\n across the USA are u...