- EBIDTA increases to $750,000
- Annualized Revenue increases to $40 million
- Shareholder Equity is $22.7 million
VANCOUVER, May 30, 2013 (GLOBE NEWSWIRE) -- Vancouver-based Teliphone Corp. (OTCQB:TLPH), which operates under the brand, Teliphone Navigata-Westel and one of the world's local digital telecommunications companies, is pleased to announce its second quarter results for the period ending March 31, 2013.
Consolidated results net revenue for the quarter ending March 31, 2013 were $9,844,761 a 60% increase from the same period in 2012. These revenues include post acquisition revenues from the operations of Navigata Communications 2009 Inc. which was acquired on December 11, 2013. They also include 48 days operations of Titan Communications Inc. and Cloud-Phone Inc. which were acquired on February 11, 2013. The Company recorded Earnings Before Interest Depreciation Taxes and Depreciation (EBITDA) of $749,216, up from $163,239 in the previous quarter. The net loss after depreciations and currency adjustments was $432,470, up from $353,661 in the previous quarter primarily due to increased depreciation expense and onetime costs of acquisitions. Total shareholder equity was $22,733,316 or $0.18 per share approximately the same as in the previous quarter.
The Teliphone's annualized revenue is now $40 million per annum with the inclusion of the recent acquisitions Navigata, Titian Communications Inc. and Cloud-Phone Inc.
Teliphone's President, Benoit Laliberté stated, "We are very pleased at the continuous growth in both revenues and EBIDTA during the last quarter and it shows that the restructuring plan we implemented after purchasing Navigata Communications 2009 Inc. in December is working. The results also demonstrate that our strategy of growth through acquisition and taking advantage of increasing economies of scale is translating to the bottom line."
Financial details have been released through a Form 10Q filed with the US Securities and Exchange Commission.
About Teliphone Corp. / Teliphone Navigata-Westel Inc.
From its origin in 1957 as BC Rail Telecom, to its evolution into Teliphone Navigata-Westel, the company is now one of the largest independent facilities-based Competitive Local Exchange Carrier (CLEC) in Canada providing voice, data, broadband Internet, IT support, Cloud computing, Co-location data centres and IPTV service across Canada. Teliphone services carriers, business, government and residential customers on a national network which includes a wireless backhaul network, a trans-Canada SONET fibre optic network and multiple CLEC/ILEC mutual CO facilities. Teliphone also operates a US network and its voice and IPTV services are available in 47 countries.
Forward-Looking Statements
This press release includes "forward-looking statements" as defined by the SEC. All statements, other than statements of historical fact, included herein that address activities, events or developments that Teliphone Corp expects, believes or anticipates will or may occur in the future, including anticipated benefits and other aspects of the proposed acquisition, are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of their dates. Except as required by law, Teliphone Corp does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.