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TigerTel Communications Inc. Announces Record Breaking Earnings Results for the First Nine Months Ending January 31, 2008
(Market Wire Via Thomson Dialog NewsEdge) MISSISSAUGA, ONTARIO, March 26 / MARKET WIRE/ --
TigerTel Communications Inc. (TigerTel) (TSX VENTURE: TTL), announced today its operating results for the three-month period ending January 31, 2008. TigerTel reported revenue of $5,557,129, direct costs of $2,864,998 and a gross profit of $2,692,131. Operating expenses amounted to $1,937,038. Net earnings before interest, taxes and amortization for the period was $755,093. Interest, amortization, provision for current income taxes and recovery of future income taxes amounted to $128,454, $365,539, $95,264 and $30,000 respectively resulting in net earnings for the period of $195,836.
For the corresponding period last year the Company reported revenue of $5,005,319, direct costs of $2,603,960 and a gross profit of $2,401,359. Operating expenses amounted to $1,728,668. Net earnings before interest, taxes and amortization for the period was $672,691. Interest, amortization, provisions for current and future income taxes amounted to $139,561, $265,423, $2,259 and $87,000 respectively resulting in net earnings for the period of $178,448.
For the nine months ended January 31, 2008, TigerTel reported revenue of $16,535,282, direct costs of $8,490,209 and a gross profit of $8,045,073. Operating expenses amounted to $5,519,108. Net earnings before interest, taxes and amortization for the period was $2,525,965. Interest, amortization, provision for income taxes and recovery of future income taxes amounted to $413,452, $915,726, $441,133 and $30,000 respectively resulting in net earnings for the period of $785,654.
For the corresponding nine-month period last year the Company reported revenue of $13,969,961, direct costs of $7,218,955 and a gross profit of $6,751,006. Operating expenses amounted to $5,052,557. Net earnings before interest, taxes and amortization for the period was $1,698,449. Interest, amortization and provisions for current and future income taxes amounted to $418,685, $762,166, $6,777 and $167,000 respectively resulting in net earnings for the period of $343,821.
Douglas D. Swift, President and CEO, commented, "We have just experienced 3 consecutive quarters of record breaking revenue and net earnings in this current fiscal year. Forecasts for Q4 remain strong. Year to date net earnings of $ 785,654 is 129% greater than at the same period last year. This has been achieved in spite of the fact that amortization expense has increased, year to date, by over $178,000 from last year. It is a very exciting time here at Tigertel. We are continuing with the installation process of our major technology infrastructure project and look forward to the increased operating efficiencies that it will bring along with anticipated higher revenues as it will provide expanded service offerings to existing and new customers for many years to come. Even in this time of economic uncertainty, we remain confident in our ability to continue to grow and improve profitability. Our proactive approach to daily operations and cost controls, will serve to minimize any potential negative effects of the current economic climate.
About TigerTel/UTR
Canada call centers organization TigerTel/UTR specializes in inbound and outbound call center solutions and services for clients throughout North America. With multiple call centers in Canada, TigerTel/UTR has built an infrastructure that provides personalized services to our clients while at the same time delivering world-class results at every level.
This news release contains forward-looking statements that involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in forward-looking statements.
TIGERTEL COMMUNICATIONS INC.
Douglas D. Swift, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content on this news release.
Contacts:
TigerTel Communications Inc.
P. Livingstone
(905) 629-7190
Copyright ? 2008 Market Wire, Incorporated
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