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Share Name | Share Symbol | Market | Type |
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TSXV:PCS | TSX Venture | Common Stock |
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Platinum Communications Corp. (TSX-V: PCS) today announced financial results for the nine months ending May 31, 2014.
Highlights for the nine months, include the following:
SELECTED HIGHLIGHTS1
Nine months ended May 31,
20142013
% Change
Revenue $7,602,233 $6,386,781 19Gross profit2
4,653,478 4,314,407 8Earnings before interest, tax, depreciation and amortization3
1,670,854 1,639,025 2 Net income 201,519 395,321 -49 Earnings per share, diluted 0.0035 0.0071 -51 Cash provided by operating activities 867,738 1,494,680 -42 ARPU(Average revenue per user) 627 498 26 Customers 11,839 12,551 -6 Common Shares Outstanding 56,448,449 55,966,731 1 Return on Equity 3.6% 9.82% -1721 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.
ABOUT PLATINUM COMMUNICATIONSPlatinum 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, CEO
Kathy Kirkup, CFO
Phone (403) 301-4591 Phone (403) 301-4594(PCS)http://www.platinum.ca
Platinum Communications Corp.Bernard D. Parkinson, 403-301-4591CEObparkinson@platcom.caorKathy Kirkup, 403-301-4594CFO
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