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Achieves sixth consecutive quarter of record revenues
TORONTO, Aug. 28 /CNW/ - SilverBirch Inc. (TSX-V: SVB), a leading digital media company, reports it has released its unaudited Consolidated Financial Statements for the nine months ended June 30, 2008 and the related Management's Discussion and Analysis of financial position and results of operations.
Revenues for the third quarter of fiscal 2008 were $1,955,000 compared with $327,000 in the same period last year, an increase of 498%. Revenues for the nine months ended June 30, 2008 were $4,576,000 compared with $462,000 in the same period last year, an increase of 888%.
"I am very pleased with our results this quarter," said Derek van der Plaat, President and CEO of SilverBirch. "With our acquisition of Lighthouse, proposed acquisition of Red Mile and the pending launch of CrossFire, the Company anticipates continuing to generate significant revenue gains."
The complete SilverBirch Financial Statements and Management's Discussion and Analysis are available at http://www.silverbirchinc.com/financial.html and are posted on www.sedar.com.
About SilverBirch Inc.
Toronto-based SilverBirch Inc. is a leading digital media company operating in the fastest growing sectors of the video game and mobile markets. The company's video game operations include SilverBirch Studios, a mobile and handheld video game developer, Lighthouse Interactive, a publisher of interactive entertainment based in the Netherlands, and a co-venture with G4Box Inc. to operate licensed English language online multiplayer games. In its mobile division it provides mobile marketing services through Jambo Mobile Solutions and mobile content by way of an investment in CrossRoad Mobile. For more information see www.silverbirchinc.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward-Looking Statements - Certain information set forth in this news release, including management's assessment of future plans, contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond management's control, including the impact of general economic conditions, industry conditions, and currency fluctuations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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