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Share Name | Share Symbol | Market | Type |
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TSXV:PCS | TSX Venture | Common Stock |
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0.00 | 0.00% | 0 | - |
Platinum Communications Corp. (TSX-V: PCS) today announced financial results for the six months ending February 28, 2014.
Highlights for the six months, include the following:
SELECTED HIGHLIGHTS1
Six months ended February 28,
2014 2013%
Change
Revenue $4,964,765 $3,922,054 27Gross profit2
3,109,193 2,656,830 17Earnings before interest, tax, depreciation and amortization3
1,174,638 864,570 36 Net income 136,015 121,684 12 Earnings per share, basic and diluted 0.0024 0.0022 9 Cash provided by operating activities 559,679 826,682 -32ARPU (Average revenue per user)
405 380 7 Customers 12,074 10,074 20 Common Shares Outstanding 55,966,731 55,593,398 1 Return on Equity 7.4% 4.82% 54ABOUT PLATINUM COMMUNICATIONS
Platinum Communications Corporation (TSX-V: PCS) is a leading provider of superior quality fixed wireless Internet and Broadband solutions utilizing Next-Generation WiMax technology. The Company caters to urban, rural and remote markets that are often beyond the reach of traditional Internet providers. Platinum's custom-built, wireless broadband network provides high-speed data and voice services to enterprise operations and residential customers throughout Alberta and NE British Columbia. For more information, please visit our website at www.platinum.ca or call 403-301-4591.
This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors or uncertainties, many of which are beyond Platinum's control. Some of these risks and uncertainties may be described in Platinum's corporate filings (posted at www.sedar.com). Platinum has no intention or obligation to update or revise any forward-looking statements due to new information or events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For further information please contact:
Bernard Parkinson, CEOKathy Kirkup, CFO
Phone (403) 301-4591Phone (403) 301-4594
(PCS)http://www.platinum.ca
____________________________________1 Includes the previously announced acquisitions of Community Networks Inc., Hybrid southern Alberta residential customers and Pathcom from March 1, 2013, November 1, 2013 and January 1, 2014 respectively.
2 Gross Profit is a widely accepted measure of financial performance used by some analysts and investors to analyze and compare companies on the basis of operating performance. Gross profit is not defined under IFRS and should not be considered in isolation or as an alternative to, or more meaningful than, net income or cash flow as determined in accordance with IFRS as an indicator of the Corporation’s performance or liquidity. Platinum’s gross profit is unlikely to be comparable to similar measures presented by other companies.
3 Earnings before interest, tax, depreciation and amortization is a widely accepted financial indicator used by some analysts and investors to analyze and compare companies on the basis of liquidity. Earnings before interest, depreciation and amortization is not defined under IFRS and should not be considered in isolation or as an alternative to, or more meaningful than, net income or cash flow as determined in accordance with IFRS as an indicator of the Corporation’s financial performance or liquidity.
Platinum Communications Corp.Bernard D. Parkinson, CEO, 403-301-4591bparkinson@platcom.caorKathy Kirkup, CFO, 403-301-4594
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