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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 three months ending November 30, 2012.
Highlights for the three months, include the following:
SELECTED HIGHLIGHTS1
Three months ended November 30,
2012
2011
%
Change Revenue $1,960,781 $1,612,238 22
Gross profit2
1,327,101 1,110,649 19Earnings before interest, depreciation and amortization3
594,157 359,549 65 Net income 219,708 71,156 209 Earnings per share, basic and diluted 0.0040 0.0013 205 Cash provided by operating activities 468,549 269,756 74 ARPU(Average revenue per user) 188 182 3 Customers 10,189 8,613 18 Common Shares Outstanding 55,593,398 54,741,654 2 Return on Equity 17.2% 6.0% 187_____________________________
1 Includes acquisitions of MyCanopy and AlbertaHighSpeed from March 1, 2012 and May 1, 2012 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, 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 is a leading provider of superior quality fixed wireless Internet and Broadband solutions in Alberta. Based in Calgary, Platinum operates a wireless broadband network that utilizes Next-Generation Wimax technology to bring fast, reliable and affordable Internet and digital phone service to residents and businesses across the province. Serving approximately 13,000 customers in over 180 communities, Platinum caters primarily to rural and near-urban markets that are often beyond the reach of traditional Internet providers. Platinum’s high quality infrastructure, excellent service record and ever-growing network and capabilities, make it the provider of choice for customers within its vast coverage area. 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.
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