HAUPPAUGE, N.Y., Aug. 15, 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 first quarter ended June 30, 2008.
Results of Operations:
Net revenues for the quarter ended June 30, 2008 was $889,757 as compared to $445,049 for the same quarter ended June 30, 2007. These revenues consist of communications services provided by Cyber Digital's subsidiaries.
Gross profit for the quarter ended June 30, 2008 was $286,033 as compared to $163,638 for the quarter ended June 30, 2007.
Net loss from operations in the quarter ended June 30, 2008 was $(437,853) or $(.013) per share as compared with a loss of $(145,708) or $(.004) per share in the quarter ended June 30, 2007, principally due to selling, general and administrative expenses of our subsidiaries, and acquisition related amortization expenses.
Cash and cash equivalents were $513,820 and $63,867 for the quarters ended June 30, 2008 and 2007, respectively.
Marketable securities were $161,600 and $275,000 for the quarters ended June 30, 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 on cashless basis. This will provide 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.