CALGARY,
Dec. 12, 2013 /CNW/ - Ivrnet Inc.
(TSXV: IVI) ("Ivrnet" or the "Corporation") releases Third Quarter
& YTD 2013 Financial results.
"Implementation of our business and
technological restructuring plan, combined with continued cost
rationalizations, is paying huge fiduciary dividends as we move
through fiscal 2013," says Chris
Topolniski, Ivrnet's Vice President of Finance &
Administration. "Q3 2013 marks our
third consecutive profitable quarter."
"As we move towards the end of Q4, we anticipate
a slight loss as compared to the first three quarters of this
fiscal year. This is due to historically lower ITSN and Golf
revenue in Q4. Overall however, Q4 2013 will be substantially
better than Q4 2012."
"Looking forward to fiscal 2014 - Historically,
Q1 has been a strong quarter for Ivrnet and we see no change in
that pattern. Through fiscal 2014, we will continue to focus our
efforts on generating deeper market awareness and driving sales for
our existing legacy product base (ITSportsNet - our On-line sports
Registration & Electronic Payment Aggregation and dissemination
division) as well as our most recent proprietary product suites
that include Community Central, AdCentral and Telephone Interactive
Payment System (TIPS)."
Q3 2013 Overview
Overall company revenues increased 8.25% to $959,713 in Q3 2013 from $886,562 in Q3 2012. Cost of Sales decreased
15.12% from $274,448 in Q3 2012 to
$232,957 in Q3 2013. Gross Margins
rose to $726,756 or 75.73% of
revenues for Q3 2013 compared to $612,114 or 69.04% of revenues for the same
period in 2012. Total Expenses for the Quarter decreased by 11.96%
from $801,926 in 2012 to $705,985 in 2013. Net Comprehensive Income
increased by 110.94% for Q3 2013 to $20,771 as compared to a Net Comprehensive Loss
of ($189,812) in Q3 2012.
YTD 2013 Overview
Overall company revenues in 2013 have increased 5.99% to
$3,087,197 from $2,912,604 in 2012. Cost of Sales decreased
22.85% from $822,891 in 2012 to
$634,883 in 2013. Gross Margins rose
to $2,452,314 or 79.43% of revenues
for 2013 compared to $2,089,713 or
71.75% of revenues for the same period in 2012. Meanwhile, Total
Expenses decreased by 7.76% to $2,263,354 in 2013 as compared to $2,453,881 in 2012. Net Comprehensive Income for
2013 has increased by 151.88% to $188,960 as compared to a Net Comprehensive Loss
of ($364,168) in 2012.
About Ivrnet
Ivrnet is a software and communications company that develops,
hosts, sells and supports value added business process improvement
software applications, delivered through the traditional phone
network and the Internet. These applications facilitate automated
interaction through personalized communication between people; mass
communication for disseminating information to thousands of people
concurrently and personalized communication between people and
automated systems. Ivrnet's applications are accessible through
nearly any form of communication technology, at any time, from
anywhere in North America via
voice, phone, fax, email, texting and the Internet.
Forward-looking Information
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information is often, but not always, identified by
the use of words such as "anticipate", "believe", "plan", "intend",
"objective", "continuous", "ongoing", "estimate", "expect", "may",
"will", "project", "should" or similar words suggesting future
outcomes. This forward-looking information is subject to known and
unknown risks, uncertainties and other variables. Although Ivrnet
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated. Accordingly, readers should not place undue reliance
on forward-looking statements. Ivrnet does not undertake to update
any forward-looking statements that are contained herein, except in
accordance with applicable securities laws. Additional information
on Ivrnet is available at www.sedar.com.
www.ivrnet.com
Neither the 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 release.
SOURCE IVRnet Inc.