Uniserve 3rd Quarter Results for the period ended February 28, 2022
April 28, 2022 at 01:11 pm
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VANCOUVER, British Columbia, April 28, 2022 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (the “Company” or “Uniserve”) (TSXV: USS) a provider of IT solutions and services to business and residential customers in Canada wishes to announce third quarter and year to date fiscal 2022 financial results. Q3 and Q3 year to date fiscal 2022 revenue increased by 17% and 8% respectively as compared to the same periods in the prior fiscal year. Q3 fiscal 2022 Net Income was $76K and Q3 year to date fiscal 2022 Net Income was $342K, as compared to Net Income of $24K and Net loss of $294K 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
Consolidated statements of comprehensive Income (loss)
(Expressed in Canadian dollars)
Three months ended February 28
Nine months ended February 28
2022
2021
2022
2021
Revenue
$
2,099,430
$
1,791,308
$
5,734,848
$
5,319,410
Cost of revenues
1,225,476
964,286
3,217,385
3,038,137
873,954
827,022
2,517,463
2,281,273
Expenses
Operations and service delivery expenses
547,132
506,239
1,447,345
1,636,314
Sales and marketing
139,195
142,506
379,375
407,256
Amortization of property and equipment
79,193
94,659
251,597
331,508
Amortization of intangible assets
13,529
17,322
43,017
56,017
779,049
760,726
2,121,334
2,431,095
Operating Profit (Loss)
94,905
66,296
396,129
(149,822
)
Other Expenses (Income)
Finance charges
24,336
55,435
107,255
183,834
Gain on foreign exchange
(314
)
(1,007
)
(1,545
)
(27,797
)
Gain on settlements and reversals of debts
(1,849
)
(6,000
)
(40,478
)
(6,000
)
Finance Income
(3,731
)
(6,138
)
(10,812
)
(6,138
)
18,442
42,290
54,420
143,899
Net and Comprehensive Income (Loss) for the period
$
76,463
$
24,006
$
341,709
$
(293,721
)
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.
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.