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Financial Results for the Six Month Period Ending November 30, 2012 / Stronger EBITDA / Change in Board of Directors and Senior Management


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© Marketwire 2013
2013-01-29 22:33:39 -

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/29/13 -- Uniserve Communications Corporation (the "Company") (TSX VENTURE:USS) wishes to announce the results of its second quarterly report for the six month period ending November 30, 2012, as follows:


                                                  Six Months Ending Nov. 30 
                                                        2012           2011 
                                             -------------------------------
Revenue                                         $  3,501,181   $  3,592,389 
Cost of revenues                                   1,793,423      1,902,855 
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                                                $  1,707,757   $  1,689,534 
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----------------------------------------------------------------------------
                                                                            
Expenses                                                                    
 Operations and service delivery expenses       $  1,383,262   $  2,118,033 
 Amortization of property and equipment              167,299        172,795 
 Amortization of intangible assets                     6,050          5,609 
 Amortization of deferred finance costs                7,747         11,214 
 Sales and marketing                                 142,729        332,241 
 Stock-based compensation                                  -        207,128 
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                                                $  1,707,087   $  2,847,020 
----------------------------------------------------------------------------
                                                                            
Operating profit (loss)                         $        670   $ (1,157,486)
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The Company has continued improvements to its key measure of operational profitability, EBITDA, during the second quarter of the financial year ended May, 2013. In the quarter, the Company increased EBITDA to $114,000 compared to $68,000 in the previous quarter and ($124,000) in the same quarter last year.



The Company further wishes to announce that Mr. Joseph Willmott has joined the Company's Board of Directors. Mr. Willmott is the Founder and General Manager of Westcap Business Centre Inc., a business development and funding specialist, and the President of HealthSpace Informatics Ltd./HealthSpace U.S.A. Inc., an international IT firm that provides sophisticated management systems to environmental and public health organizations in North America with clients that include 305 Health Departments in Canada and the US.


The Company further wishes to announce that its current President, Mr. Bruce Sanderson, has joined the Board of Directors and that Mr. Albert Lim has been appointed as the Interim Chief Financial Officer of the Company.


Uniserve Communications Corporation (TSX VENTURE:USS) is an industry leader in the integration and delivery of voice, data and cloud computing services to businesses and retail consumers throughout Canada. For more information about Uniserve, its products and services please visit www.uniserve.com : www.uniserve.com or www.uniservecloud.com.


This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.


Bruce Sanderson, President


Management has prepared this release and no regulatory authority has approved or disapproved the information contained herein. The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management's estimates, assumptions and projections using available information. Uniserve cautions that actual financial results could differ materially from the current expectations due to a number of factors.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this News Release.


Contacts:

Uniserve Communications Corporation

Investor & Corporate Relations

604-395-7085
invest@uniserve.com :

www.uniserve.com

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