TeliPhone Releases 2008 Annual Report, Revenues Up 81% Over Last Year; Company Reports on Progress from Latest Acquisition
06 Janvier 2009 - 3:00PM
PR Newswire (US)
MONTREAL, Jan. 6 /PRNewswire-FirstCall/ -- TeliPhone Corp. (OTCBB:
TLPH). TeliPhone reports its 2008 annual results, with sales
increasing to $1,215,570 compared with $673,278 for 2007. Gross
Margin was likewise up from $193,660 to $394,686. The Company was
able to achieve a 104% increase in gross margin with only a 64%
increase in operating expenses. With these kinds of results,
Management remains confident that it made the right decision in
acquiring Dialek Telecom in 2008. Management also highlighted to
its auditors the support of the $526,783 of goodwill on the
Company's balance sheet. When accounting for financing costs, the
Company paid a total of CDN$383,464 for the customer base, however
based on the first 10 months of financial performance of the Dialek
Telecom Division within the Company, the value of the acquisition
was CDN$401,812. "The positive financial results of this first
acquisition gave us the experience and confidence necessary to look
to continue to grow through acquisitions of telecom service
reseller assets", says the Company's CEO, George Metrakos. The
Company will now talk to new and current investors to strengthen
its balance sheet as it looks to continue to grow in the coming
year. About TeliPhone Corp. TeliPhone Corp. is an Internet-based
digital telecommunications company employing its own technology.
Customers of TeliPhone, primarily small and medium sized
businesses, receive more value added services for lower cost when
using TeliPhone. TeliPhone specializes in hosted business telephony
systems that reduce customer capital equipment costs while offering
global incoming and outgoing call services with best-of-breed call
quality. For more information, visit the company website at
http://www.teliphone.us/. This news release contains
forward-looking statements that are subject to various risks and
uncertainties. The Company's actual results could differ materially
from those anticipated in such forward-looking statements as a
result of numerous factors that may be beyond the Company's
control. Forward-looking statements are based on the expectations
and opinions of the Company's management on the date the statements
are made, and the Company assumes no obligation to update
forward-looking statements should circumstances in management's
expectations or opinions change. DATASOURCE: Teliphone Corp.
CONTACT: TeliPhone Corp., (212) 738-0008, ,
http://www.teliphone.ca/investors; Source: TeliPhone Corp.
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