HAUPPAUGE, New York, July 1, 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 fiscal year ended March 31, 2008.
Results of Operations for the Fiscal Year Ended March 31, 2008:
Net revenues for the fiscal year ended March 31, 2008 was $3,863,840 as compared to $0 for the fiscal year ended March 31, 2007. 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 fiscal year ended March 31, 2008 was $1,265,372 as compared to gross loss of $(140,000) for the fiscal year ended March 31, 2007.
Net loss from operations in the fiscal year ended March 31, 2008 was $(1,762,446) or $(.05) per share as compared with a loss of $(932,643) or $(.03) per share in the fiscal year ended March 31, 2007, 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 $311,992 and $33,506 for the years ended March 31, 2008 and 2007, respectively.
Marketable securities were $250,480 and $0 for the years ended March 31, 2008 and 2007, 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.