Iplayco Corporation Ltd.
TSX VENTURE : IPC

Iplayco Corporation Ltd.

August 28, 2007 16:57 ET

IPlayco Releases Third Quarter Financials

LANGLEY, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2007) - IPlayco Corporation Ltd. (TSX VENTURE:IPC) announces the release of its unaudited consolidated financial statements for the quarterly period ended June 30, 2007. The consolidated financial statements of the Company can be accessed at the Sedar website.

The Company recorded revenues of $2,896,885.00 for the three months ended June 30, 2007 as compared to revenues of $2,160,419.00 for the same period ending June 30, 2006. Gross profit during this period increased to $1,435,848.00 from $808,032.00 during the comparable period in 2006, expressed as a percentage of sales, gross profits increased to 49% for this quarter in 2007, as compared to 37% last year.

Net income for the three months ended June 30, 2007 was $330,987, $0.03 earnings per share on revenues of $2,896,885 as compared to a loss of ($1,369) or ($0.00 per share) for the comparable period in 2006 on revenues of $2,160,419.

Higher total revenues for the period are attributable to strong continual growth in North America and all other markets world wide except for Europe.

Total operating expenses of $934,238.00 during the three months ended June 30, 2007, increased by $124,837.00 (15%) from the comparable period in 2006. The increases in operating expenses were due mainly to foreign exchange losses due to increasing strength of the Canadian dollar.

The results of the consolidated financial statements discussed above reflect the 3 month period ended June 30, 2007, compared to the 3 month period ended June 30, 2006. The fiscal year end for IPlayco Corporation (IPC) is September 30; for full details please see the most recent annual and interim statements which can be accessed at the Sedar website.

ON BEHALF OF THE BOARD OF DIRECTORS

Scott Forbes, President and Director

FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding the Company's business, results or future plans, 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. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed elsewhere in documents that are available to the public.

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

Contact Information

  • IPlayco Corporation Ltd.
    David Romano
    (604) 882-1188
    (604) 882-1977 (FAX)
    Website: www.iplayco.com