Business
VIQ Solutions Reports Fiscal 2007 Second Quarter Results
VIQ Solutions Reports Fiscal 2007 Second Quarter Results.
About this update from Viq Solutions Inc.
[{"type":"text","content":"\n\n\n\nMARKHAM, ON, Aug. 22 /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 six month periods ended June 30, 2007.\n\n\nRevenues were $3.3 million and $6.6 million for the three and six month\nperiods ended June 30, 2007 as compared to $2.9 million and $5.4 million for\nthe three and six month periods ended June 30, 2006. Gross margin increased to\n37% and 38% for the three and six month periods as compared to 33% for the\nsame periods in 2006. Net loss for the three and six month periods ended June\n30, 2007 was $61,431 and $236,775 as compared to a net loss of $555,003 and\n$1,222,780 for the three and six month periods ended June 30, 2006. Net loss\nper common share was $0.00 for the three and six month periods ended June 30,\n2007 and $0.01 and $0.02 for the same periods in 2006.\n\n\nBusiness Highlights for the Quarter:\n\n- Achieved revenue growth of 14% and 22% for the three and six month\n periods over previous year's results as a result of revenue growth\n from our new product releases as well as growth in our transcription\n and recording services;\n\n- Awarded a U.S. General Services Administration ("GSA") schedule as of\n June 26, 2007 whereby the Corporation's core commercial products and\n services will be readily available to government agencies, providing\n VIQ Solutions with direct access to U.S. government purchase\n contracts; and\n\n- Significantly improved financial performance for the first six months\n over the previous year's results, resulting in positive cash from\n operations for the three and six months ended June 30, 2007.\n\n\nAdditional Information\n\n\nDetailed financial information and Management's Discussion and Analysis\nof Results and Financial Condition for the three and six month periods ended\nJune 30, 2007 will be posted on VIQ Solutions' website (under Investor\nRelations) at www.viqsolutions.com and on SEDAR's website at www.sedar.com.\nThe financial information included in this release is qualified in its\nentirety and should be read together with the audited consolidated financial\nstatements for the year ended December 31, 2006, including the notes thereto.\n\n\nAbout VIQ Solutions Inc.\n\n...