HAUPPAUGE, N.Y., Feb. 14, 2008 (PRIME NEWSWIRE) -- Cyber Digital, Inc. (OTCBB:CYBD), a developer of communications systems and a communications service provider, today announced its financial results for the third quarter ended December 31, 2007.
Results of Operations for Nine Months Ended:
Net revenues for the period ended December 31, 2007 was $2,843,384 as compared to $0 for the period ended December 31, 2006. These revenues consist of communications services provided by Cyber Digital's subsidiaries, NRT and TSI, from June 1, 2007, the date of acquisition.
Gross profit for the period ended December 31, 2007 was $970,882 as compared to $0 for the period ended December 31, 2006.
Net loss from operations in the period ended December 31, 2007 was $(1,001,383) or $(.03) per share as compared with a loss of $(562,754) or $(.017) per share in period ended December 31, 2006, principally due to selling, general and administrative expenses of NRT and TSI, acquisition related amortization expenses as well as substantial expenses incurred for the due diligence of acquired companies and yet to be acquired companies.
Cash and cash equivalents were $198,499 and $35,266 for the periods ended December 31, 2007 and 2006, respectively.
Marketable securities were $189,880 and $0 for the periods ended December 31, 2007 and 2006, respectively.
J.C. Chatpar, chief executive officer, stated, "Due to the recent changes to the Telecommunications Act in our favor, our overall strategy is to grow through acquisitions of switch-less communications service providers. This provides us with large-scale expansion and controlled deployment of our switching systems with minimal cost of customer acquisition. In line with this strategy, we are moving forward with additional expansion through acquisitions in a recession proof telecom industry."
About Cyber Digital, Inc.
Cyber Digital, Inc. is a designer, software developer and manufacturer of proprietary advanced distributed digital voice switches and high-performance Internet Protocol (IP) broadband systems, such as softswitches, routers, gateways, firewalls and servers for network operators worldwide. It also provides communications services through its subsidiaries to small businesses and residential subscribers in the states of New York, New Jersey and Pennsylvania. For more information, visit www.cyberdigitalinc.com
This press release contains forward-looking statements, pursuant to the "safe harbor" provisions as fully described in Cyber Digital's filings with the Securities and Exchange Commission.