Uniserve 2nd Quarter Results for the period ended November 30, 2019
January 28 2020 - 8:59PM
Uniserve Communications Corporation (“Uniserve”) a
provider of IT solutions and services to business and residential
customers in Canada wishes to announce second quarter fiscal 2020
financial results. Q2 and Q2 year to date fiscal 2020 revenues
decreased by 14% and 12% respectively as compared to the same
periods in the prior fiscal year. Q2 fiscal 2020 Net loss was $988K
and Q2 year to date fiscal 2020 Net loss was $1,383K, as compared
to Net loss of $870K and Net loss of $2,110K respectively for the
prior year fiscal periods. In upcoming quarters the Company will
continue focusing on generating recurring revenue through new
higher profit margin product offerings while continuing to focus on
cost savings.
|
Uniserve Communications Corporation |
Condensed Interim Consolidated Statements of Comprehensive
Loss |
(Expressed in Canadian dollars) |
|
|
|
|
|
|
|
|
Three months ended November 30, |
Six months ended November 30, |
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
|
|
|
|
|
Revenue |
|
$ |
2,497,157 |
|
$ |
2,889,990 |
|
$ |
5,084,555 |
|
$ |
5,807,442 |
|
Cost of revenues |
|
|
1,509,093 |
|
|
1,680,479 |
|
|
3,070,897 |
|
|
3,576,463 |
|
|
|
|
988,064 |
|
|
1,209,511 |
|
|
2,013,658 |
|
|
2,230,979 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Expenses |
|
|
|
|
|
Operations and service delivery expenses |
|
|
1,447,867 |
|
|
1,566,618 |
|
|
2,416,017 |
|
|
3,139,283 |
|
Sales and marketing |
|
|
237,588 |
|
|
247,295 |
|
|
523,863 |
|
|
641,678 |
|
Amortization of property and equipment |
|
|
178,686 |
|
|
123,486 |
|
|
355,724 |
|
|
247,420 |
|
Amortization of intangible assets |
|
|
59,520 |
|
|
29,929 |
|
|
121,486 |
|
|
63,933 |
|
|
|
|
1,923,661 |
|
|
1,967,328 |
|
|
3,417,090 |
|
|
4,092,314 |
|
|
|
|
|
|
|
Operating Loss |
|
|
(935,597 |
) |
|
(757,817 |
) |
|
(1,403,432 |
) |
|
(1,861,335 |
) |
|
|
|
|
|
|
Other Expenses (Income) |
|
|
|
|
|
Finance charges |
|
|
63,351 |
|
|
81,434 |
|
|
138,135 |
|
|
168,414 |
|
Loss (Gain) on foreign exchange |
|
|
(11,426 |
) |
|
23,660 |
|
|
(24,828 |
) |
|
57,302 |
|
Loss (Gain) on settlements and reversals of debts |
|
|
- |
|
|
7,555 |
|
|
(133,914 |
) |
|
22,665 |
|
|
|
|
51,924 |
|
|
112,649 |
|
|
(20,608 |
) |
|
248,381 |
|
|
|
|
|
|
|
Net Comprehensive Loss for the period |
|
$ |
(987,521 |
) |
$ |
(870,466 |
) |
$ |
(1,382,824 |
) |
$ |
(2,109,716 |
) |
|
|
|
|
|
|
About Uniserve
Uniserve Communications Corporation is a
2018 TSX Venture top 50 performance company.Uniserve is a
unified communications company which has been in business for 30
years, combining voice, data and media services all into one
seamless solution, one bill and one point of contact. The unique
selling proposition of the business is “SMART” People, Solutions,
and Technology with over 13,000 customers spread across residential
and enterprise centered around Vancouver, Calgary and
Kitchener-Waterloo.
Uniserve prides itself on world class customer
service based in Canada. When all else is equal, clients can trust
Uniserve to have a great price, a great experience and to be a
company that customers enjoy working with – we call it “ONE click,
call, connect”.
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. ScholzChairman of
the Board
For more information please call 604-395-3961 or
email corporate.relations@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 a number of factors.
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