SOURCE: CYBERSURF CORP.

November 29, 2005 18:56 ET

Cybersurf Corp. Announces Results for Three-Month Interim Period Ended September 30, 2005

CALGARY, AB -- (MARKET WIRE) -- November 29, 2005 -- Cybersurf Corp. ("Cybersurf") (TSX-V: CY), one of Canada's leading Internet technology and service companies, today reported financial results for the three-month interim period ending September 30, 2005, being the first quarter of Cybersurf's fiscal year 2006.

The Company's financial results for the first quarter of fiscal 2006 indicate a significant increase in EBITDA. Broadband access services are on the rise and Cybersurf's launch of its Local Phone (VoIP) service bundled with Free High Speed Internet will continue to roll out into new markets. Cybersurf also expects to realize further synergies from its latest acquisitions which will further contribute to the Company's performance. A complete copy of the Company's first quarter fiscal 2006 financial statements is available on the Internet at www.sedar.com.

Cybersurf's consolidated operating revenue increased 43% to $3,893,324 for the first quarter of fiscal year 2006 as compared to the first quarter of fiscal year 2005. EBITDA of $142,811 in the first quarter of fiscal year 2006 as compared to $83,847 in the first quarter of fiscal year 2005 represents a 70% increase.

FINANCIAL SUMMARY
                                 3 months ended      3 months ended
                               September 30, 2005  September 30, 2004
                               ------------------  ------------------
Operating Revenue              $        3,893,324  $        2,715,742
                               ------------------  ------------------
EBITDA                         $          142,811  $           83,847
                               ------------------  ------------------
Earnings/(Loss)                          ($97,926)           ($89,344)
                               ------------------  ------------------
Earnings/(Loss) per Share                  ($0.00)             ($0.00)
                               ------------------  ------------------
Highlights for period ending September 30, 2005
* Broadband revenues have risen significantly
* Local Phone service launched with plans to roll out in new markets in the
current and next quarters
About Cybersurf Corp.

Cybersurf is an independent Internet and communications company providing Canadians with a value-driven alternative to large incumbent carriers. Cybersurf prides itself on providing the highest possible quality of services at the lowest possible prices and is one of Canada's largest independent Internet service providers.

Cybersurf believes Canadians want 'The Freedom of Choice' that comes with having a truly independent provider as an alternative to Canada's larger incumbent telephone companies or cable carriers -- a choice that allows users to connect to the Internet how they want and with an independent provider that focuses on the needs of today's average user by providing quality service at the best possible price. Cybersurf is that choice.

Definition of EBITDA

Earnings before interest, taxes, depreciation and amortization ("EBITDA") is a financial metric used by many investors to evaluate companies in the telecommunications industry on the basis of operating results and the ability to incur and service debt. EBITDA does not have a standardized meaning prescribed by GAAP and may not be comparable to similar measures presented by other companies. The disclosure of EBITDA is not intended to replace, but only augment, the discussion of financial results from operations or cash flow.

Forward-Looking Statements

This news release may contain certain forward-looking statements. All statements, other than statements of historical fact, included herein, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Cybersurf does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.

For more information about Cybersurf and 3web, please visit www.cybersurf.com and www.cia.com.

Cybersurf's common shares trade on the TSX Venture Exchange (TSX-V: CY).

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • For more information,
    please contact
    Paul Mercia
    (413) 777-2000 (ext. 262)
    Email Contact