Uniserve 3rd quarter results for period ending Feb 28th
May 02 2018 - 8:54AM
Uniserve Communications Corporation (TSX:USS.V) (the Company)
one of Canada’s premier providers of technology solutions in voice,
data and media services for home and business customers is pleased
to announce third quarter 2018 fiscal year results.
Q3 revenues increased by 36% vs Q2 revenues, with 2018 year to
date revenues up 33% from same quarter last year. 2018 Q3
EBITDA - ($105K CAD) vs. Q2- ($644K CAD).
The Company finished the third quarter with:
- Consolidated Gross Revenues for nine months year-to-date of
$7.189M CAD vs $5.64M CAD or a 27% increase over same period last
year.
- Q3 gross margin increased $797K (89%) from Q2, with an increase
of $808,974 from the same period in 2017. Gross margins as a
percentage of sales equaled 58% in the current quarter vs 42% last
quarter and 40% from the same quarter in 2017.
- Consolidated overhead costs were $1,626K for Q3 of 2018 (2018
Q2 - $1,364K, 2017 Q3 - $588K). The increase in costs was
associated with increased travel costs, an increase in staff to
support increasing revenue and for payroll costs associated with
termination of staff after integrating new acquisitions.
- Q3 2018, EBITDA loss of $105K CAD, vs Q2 2018 loss of $644K
CAD, this loss was primarily due to the increase in salary and
operational costs.
Key highlights in third fiscal quarter of
2018:
- Q3 saw Uniserve shift from integration of two newly acquired
businesses to lead generation and sales.
- New Director of Sales and Channels hired and has started to
build out the sales, product management team and account management
team to support new combined client class.
- The indirect sales channels progressed well with a
consolidation of the previous partners into two groups, the larger
and more tech savvy being offered storage and security
solutions.
- The company continues to win cryptocurrency opportunities from
around the world, with a clear strategy of co-locating these
servers (rigs) in third party facilities, keeping the Vancouver
data center primarily for Enterprise clients.
- Uniserve’s social media and general marketing efforts are now
far more quantifiable, helping make lead generation increases
directly reflect returns on investment.
- Overall sales pipelines appear buoyant and churn in Residential
and Enterprise segments is significantly below industry accepted
norms.
- Senior Management is pleased with how smoothly the integration
of recent acquisitions has progressed.
- New coax cable connectivity offering is now complete throughout
Alberta with significant increases in new clients.
- Smart City practices was launched servicing cities in the Lower
Mainland.
- With the significant new Glenbriar Managed Services client
increase, the Company has ramped up customer service and tier 1
& 2 support teams, doubling the size of its telesales and field
sales team in both BC and Alberta.
A photo accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Download/47b5b1ea-d6a8-4058-893b-2aa762800666
About Uniserve
Uniserve (TSX:USS.V) is a unified communications company
delivering integrated voice, data and media services to over 13,000
customers within the residential, business to business and
enterprise IT markets, currently focusing on Western
Canada.
The company has been in existence for 30 years and has a client
base across three sectors selling directly and through their
wholesale channel.
The recent corporate restructuring has resulted in new board
members and several management people being replaced.
Uniserve prides itself on delivering world class customer
services. They believe when all else is equal you can trust the
Company to offer highly competitive pricing and cutting edge
technology bundles, all underpinned by an exemplary customer
service team based in Canada.
This news release was prepared on behalf of the Board of
Directors, which accepts full responsibility for its contents.
Learn more at www.uniserve.com or at www.sedar.com.
Michael C. Scholz Chairman of the Board
For more information please contact Mr. Mark Stanton at
604-395-3908 or email us at mark.stanton@uniserveteam.com.
Neither TSX Venture Exchange nor its Regulations Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. 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 several factors.
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