Uniserve 2nd Quarter Results for the period ended November 30, 2021

Vancouver, British Columbia, CANADA

VANCOUVER, British Columbia, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (“Uniserve”) a provider of IT solutions and services to business and residential customers in Canada wishes to announce second quarter fiscal 2022 financial results. Q2 and Q2 year to date fiscal 2022 revenue increased by 12% and 3% respectively as compared to the same periods in the prior fiscal year. Q2 fiscal 2022 Net Income was $136K and Q2 year to date fiscal 2022 Net Income was $265K, as compared to Net loss of $57K and Net loss of $318K respectively for the prior year fiscal periods. The Company will continue to focus on its operating results in fiscal 2022 by continuing to implement operational efficiencies, grow recurring revenues and enhance value added for its customers.

Uniserve Communications Corporation   
Condensed interim consolidated statements of comprehensive Income (loss) 
(Expressed in Canadian dollars)    
 Three months ended
November 30
Six months ended
November 30
  2021  2020  2021  2020 
Revenue$ 1,834,806 $ 1,642,626 $ 3,635,418 $ 3,528,102 
Cost of revenue 989,313  936,127  1,991,909  2,073,851 
  845,493  706,499  1,643,509  1,454,251 
Operations and service delivery expenses 460,430  384,140  900,213  1,130,075 
Sales and marketing 140,260  160,401  240,180  264,750 
Amortization of property and equipment 88,949  131,422  172,404  236,849 
Amortization of intangible assets 14,304  18,614  29,488  38,695 
  703,943  694,577  1,342,285  1,670,369 
Operating Profit (Loss) 141,550  11,922  301,224  (216,118)
Other Expenses (Income)    
Finance charges 38,066  68,910  82,919  128,399 
Gain on foreign exchange 1,127  313  (1,231) (26,791)
Gain on settlements (30,309) -  (38,629) - 
Finance Income (3,770) -  (7,081) - 
  5,114  69,223  35,978  101,608 
Net and Comprehensive Income (Loss) for the period$ 136,436 ($ 57,301)$ 265,246 ($ 317,726)


About Uniserve

Uniserve Communications Corporation is a 2018 TSX Venture top 50 performance company.
Uniserve is a unified communications company which has been in business for 30 years, combining voice, data and media services all into one seamless solution, one bill and one point of contact.

Uniserve prides itself on world class customer service based in Canada. When all else is equal, clients can trust Uniserve to have a great price, a great experience and to be a company that customers enjoy working with – we call it “ONE click, call, connect.”

This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.

Learn more at www.uniserve.com or at www.sedar.com.

Walter Schultz
Chairman of the Board

For more information please call 604-395-3961 or email corporate.relations@uniserveteam.com.

Neither TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Management has prepared this release and no regulatory authority has approved or disapproved the information contained herein. The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management’s estimates, assumptions and projections using available information. Uniserve cautions that actual financial results could differ materially from the current expectations due to a number of factors.