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Share Name | Share Symbol | Market | Type |
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TSXV:PCS | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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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, 2014.
Highlights for the three months, include the following:
SELECTED HIGHLIGHTS1
Three months ended November 30, 2014 2013 %Change
Revenue $2,597,446 $2,440,143 6Gross profit2
1,600,214 1,540,625 4Earnings before interest, tax, depreciation and amortization3
507,942 590,647 -14 Net income 12,781 116,389 -89Earnings per share, basic and diluted
0.0002
0.0021
-90
Cash provided by operating activities
328,020
378,478
-13
ARPU(Average revenue per user) 225 196 15Common Shares Outstanding
56,448,449
55,966,731
1
Return on Equity
.7%
6.4%
-89
1 Includes the previously announced acquisitions of Hybrid and Pathcom operations from November 1, 2013 and January 1, 2014 respectively.2Gross 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.3Earnings 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.
Bernard Parkinson, CEO comments: Our revenue continues to trend upwards as we increase our sales wins in the large enterprise market; especially in agriculture and oil & gas. As a result, commercial revenues now contribute 36% to our overall topline. Platinum’s repositioning of its commercial sales group to a professional engineering and construction company, with full safety accreditation in Alberta and BC, is gaining significant traction with our existing and newer clients. To meet the increasing demands for telecommunications, power and IT consulting our Professional Services Group will begin contributing to overall revenues in Q2.
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 11,000 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.
For further information please contact:
Bernard Parkinson, CEO
Phone (403) 301-4591
Katherine Kirkup, CFO
Phone (403) 301-4594
Platinum Communications Corp.Bernard D. Parkinson, 403-301-4591CEObparkinson@platcom.caorKatherine Kirkup, 403-301-4594CFO
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