Serebra Reports Record Revenues and Net Income for the Year Ended March 31, 2008
July 07 2008 - 9:00AM
Marketwired
VANCOUVER, BC , a leading e-learning provider, today reported
profitable financial results for the year ended March 31, 2008.
Revenue for the year ended March 31, 2008 was up a record 270%
to $5,336,371 compared to $1,975,635 a year earlier. Net income for
the year was $466,460 compared to a loss of $828,538 for the year
ended March 31, 2007. Earnings per share were $0.03 compared to a
loss per share of $0.07 a year earlier.
During the fiscal year, Serebra completed and released, on time
and under budget, its largest project since the Company's
inception: Serebra Connect (www.serebraconnect.com). Serebra
Connect, a web application for international task outsourcing,
pulls together Serebra's existing product and service lines into a
product suite that is unique in its offering and reach.
The Company continued to upgrade its Cortex technology platform
for its learning management system, course and examination
deployment technologies, as well as its e-commerce engine, with a
view to enhancing the feature sets and better integrating with
Serebra Connect.
"The easyLearning program had a terrific year, with continued
successes in the Middle East and in many countries across Africa
through respected channel partners who are encouraged by the
strength of Serebra Connect as the basis of expanding the
easyLearning program," said Ted Moorhouse, chairman and CEO,
Serebra Learning Corporation. "We are equally excited about the
Serebra Connect and Cortex technologies, and we are focusing all of
our energy on making these three pillars of our company a success.
We are committed to being innovative and customer-focused to allow
us to grow and deliver for our shareholders long into the
future."
On Behalf of the Board of Directors,
SEREBRA LEARNING CORPORATION
Ted Moorhouse
Chairman and CEO
The audited consolidated financial statements for the years
ended March 31, 2008 and 2007, as well as additional information
and the Management's Discussion and Analysis of financial condition
and results of operations, will be filed with the relevant
securities regulatory authorities and will be available on
Serebra's website at www.serebra.com and on SEDAR at
www.sedar.com.
About Serebra Learning Corporation
Serebra Learning Corporation has a 21-year track record using
the latest technology to deliver innovative personal and
professional development courses to individuals and companies
worldwide. Through easyLearning (www.easylearning.org), Serebra
helps people in developing nations gain valuable skills and
qualifications. Through Serebra Connect (www.serebraconnect.com),
Serebra provides easyLearning students, and other qualified
individuals, with access to jobs. Shop Serebra Connect
(http://shop.serebraconnect.com) lets Serebra Connect users upgrade
their skills and accredit their existing education. For more
information about Serebra, visit www.serebra.com or call 800
567-7766.
The TSX Venture Exchange Inc. has not reviewed and does not
accept responsibility for the adequacy or accuracy of this
release.
Distributed by Filing Services Canada and retransmitted by
Marketwire
For further information, please contact: Ted Moorhouse Chairman
and Chief Executive Officer Serebra Learning Corporation Telephone:
604-676-5480 Facsimile: 604-676-5490 Toll Free: 1-800-567-7766
Email: Email Contact Serebra Learning Corporation Suite 600 - 1188
West Georgia Street Vancouver, BC Canada V6E 4A2