- Shareholder Equity increases to $23 million
- Annualized Revenue increases to $37 million
VANCOUVER, British Columbia, April 5, 2013 (GLOBE NEWSWIRE) -- Vancouver-based Teliphone Corp. (OTCQB:TLPH), one of the world's local digital telecommunications companies, is pleased to announce its first quarter results for the period ending December 31, 2012. Results had been delayed due to the complexity of the acquisition of the operations of Navigata Communications 2009 Inc. (Navigata). The Company does not anticipate future delays in reporting.
Consolidated results net revenue for the quarter ending December 31, 2012 were $2,887,853 a 42% increase from the same period in 2011. These revenues include 20 days of operations post acquisition of the operations of Navigata Communications 2009 Inc. on December 11, 2013. The Company recorded Earnings Before Interest Depreciation Taxes and Depreciation (EBITDA) of $163,239, up from 114,588 in the same period in 2011. The net loss was $353.661, up from $84,619, primarily due to increased depreciation expense and onetime costs of acquisition. Total shareholder equity rose to $22,793,976 or $0.18 per share from $4,608,719 ($0.072 per share) at September 30, 2012.
The Teliphone's annualized revenue is now $37 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 significant growth in revenues over the last 12 months as we implement our business plan and are particularly encouraged by the positive EBITDA just a few weeks after the acquisition of Navigata. We will continue to focus our effort on revenue growth and cost reductions through efficiencies and economies of scale."
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.