Uniserve 2nd Quarter Results for the period ended November 30, 2021
January 27, 2022 at 09:13 pm
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VANCOUVER, British Columbia, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (“Uniserve”) a provider of IT solutions and services to business and residential customers in Canada wishes to announce second quarter fiscal 2022 financial results. Q2 and Q2 year to date fiscal 2022 revenue increased by 12% and 3% respectively as compared to the same periods in the prior fiscal year. Q2 fiscal 2022 Net Income was $136K and Q2 year to date fiscal 2022 Net Income was $265K, as compared to Net loss of $57K and Net loss of $318K respectively for the prior year fiscal periods. The Company will continue to focus on its operating results in fiscal 2022 by continuing to implement operational efficiencies, grow recurring revenues and enhance value added for its customers.
Uniserve Communications Corporation
Condensed interim consolidated statements of comprehensive Income (loss)
(Expressed in Canadian dollars)
Three months ended November 30
Six months ended November 30
2021
2020
2021
2020
Revenue
$ 1,834,806
$ 1,642,626
$ 3,635,418
$ 3,528,102
Cost of revenue
989,313
936,127
1,991,909
2,073,851
845,493
706,499
1,643,509
1,454,251
Expenses
Operations and service delivery expenses
460,430
384,140
900,213
1,130,075
Sales and marketing
140,260
160,401
240,180
264,750
Amortization of property and equipment
88,949
131,422
172,404
236,849
Amortization of intangible assets
14,304
18,614
29,488
38,695
703,943
694,577
1,342,285
1,670,369
Operating Profit (Loss)
141,550
11,922
301,224
(216,118
)
Other Expenses (Income)
Finance charges
38,066
68,910
82,919
128,399
Gain on foreign exchange
1,127
313
(1,231
)
(26,791
)
Gain on settlements
(30,309
)
-
(38,629
)
-
Finance Income
(3,770
)
-
(7,081
)
-
5,114
69,223
35,978
101,608
Net and Comprehensive Income (Loss) for the period
$ 136,436
($ 57,301
)
$ 265,246
($ 317,726
)
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.
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.
Walter Schultz Chairman 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.
Uniserve Communications Corporation is a Canada-based technology solutions company. The Company's principal business activities are the provision of Internet access and telecommunications services and commercial information technology (IT) consulting services primarily in British Columbia and Alberta. It offers products across three verticals: Residential, Small Business and Enterprise. Its Internet services include high speed Internet, fiber, SD-WAN connections. Its business voice solutions include the enterprise digital telephony solutions. It offers desktop as a service. Its managed services include office in a box, Hardware as a Service, Managed IT, Managed Network, Managed Security, Managed Backup and Managed Storage. It builds, deploys, manages and monitors cloud environments, which reside in both public and private clouds. Its residential services include fiber to home, high speed Internet and home phone. The Company has three data centers. It also provides colocation services.