Business
VIQ Solutions Reports Fiscal 2005 Results
VIQ Solutions Reports Fiscal 2005 Results.
About this update from Viq Solutions Inc.
[{"type":"text","content":"\n\n\n\n\nMARKHAM, ON, May 1 /CNW/ - VIQ Solutions Inc. (\"VIQ Solutions\" or the\n\"Corporation\") (TSX Venture: VQS), a world leader in computer-based digital\naudio capture and management, today reported its financial results for the\nthree and twelve month periods ended December 31, 2005.\nRevenues were $2.5 million and $10.9 million for the three and twelve-\nmonth periods ended December 31, 2005. Net loss for the three and twelve-month\nperiods were $0.6 million and $3.6 million respectively. Net loss per common\nshare was $0.01 and $0.06 for the three and twelve-month periods respectively.\n\"VIQ underwent many changes in 2005 which have set the framework for\nfinancial growth and sustainability in our business,\" commented David\nOuthwaite, President and Chief Executive Officer of VIQ Solutions. \"We are\nfocused on delivering improved financial performance in 2006 as we capitalize\non our strong foundation and a vibrant market,\" concluded Mr. Outhwaite.\n\n2005 Business Highlights:\n\n - On February 25th the Corporation announced its acceptance for a new\n listing on the TSX Venture Exchange and commenced trading on\n February 28th under the symbol \"VQS\";\n\n - VIQ Solutions announced the appointment of Norman Inkster as\n Chairman of the Board of Directors, bringing over 35 years\n experience in the domestic and international security markets;\n\n - VIQ Solutions expanded its market opportunities with the completion\n of the development, testing and deployment of its RecordIAB product,\n a new innovative enclosed recording console for the recording,\n playback and storing of digital audio which has been favourably\n received in numerous markets including the courts, military,\n transportation and other markets;\n\n - During the year, VIQ Solutions solidified its global distribution\n model and entered into regional distribution agreements for VIQ\n Solutions products and services with Netsound Pty. Limited for the\n Asia-Pacific region, Digital Voice Processing Pty Limited (\"DVP\")\n for sub-Saharan Africa and subsequent to the period, with Smoltz\n Distributing for the North American region; and\n\n - The Corporation progressed on its strategy of acquiring\n complementary businesses to enhance its operations through the\n acquisition of International Reporting Inc., a private company\n providing bilingual digital ...