MOUNT REAL CORPORATION
TSX : MRF

MOUNT REAL CORPORATION

November 09, 2005 17:59 ET

Mount Real Announces Third Quarter Results and Other Important News

MONTREAL, QUEBEC--(CCNMatthews - Nov. 9, 2005) - Mount Real Corporation (TSX:MRF)("Mount Real") today announced its financial results for the third quarter ended September 30, 2005

Revenue for the nine-months ended September 30, 2005 were $19.5 million compared to $27.6 million for the same period in 2004. Net earnings were $3.6 million for the nine-months ended September 30, 2005 as compared to $8.2 million for the same period in 2004. Earnings per share were $0.41 for September 2005, compared to $0.92 in 2004.

Revenue for the three-months ended September 30, 2005 decreased to $3.3 million compared to $12.0 million for the same period in 2004. During the last six months, payment processing issues have resulted in lower volumes for certain TMI programs. As the payment processing issues are being rectified, Mount Real is continuing to test new TMI programs which will produce increased volume in the upcoming quarters.

Net earnings for the three months ended September 30, 2005 were $0.6 million compared to $3.1 million for the same period in 2004.

Resignation of Joseph Pettinicchio

Mount Real also announced today that Joseph Pettinicchio has tendered his resignation as President, Chief Operating Officer, and board member in order to dedicate his time to other business interests. Lino Matteo, CEO of Mount Real, will assume the role of President until such time that a suitable replacement is hired.

"I would like to thank Joseph for his dedication and service over the past 5 years. We wish him success with his future endeavors." said Lino Matteo, CEO, Mount Real.

About Mount Real

Mount Real provides information management services to the media and technology sector. Mount Real uses a business intelligence system, Tactics Marketing Intelligence (TMI), to enable its clients to more efficiently manage their business. Mount Real is listed under the stock-trading symbol MRF on the Toronto Stock Exchange.

For the complete Third Quarter Report including the Management Discussion and Analysis, Financial Statements and Notes, please consult the company website at www.mountreal.com or the company's SEDAR filings at www.sedar.com.

Contact Information

  • Please direct all media requests and inquiries to:
    Julie Tremblay, Account Executive,
    Fleishman-Hillard Montreal
    (514) 866-6776 extension 240
    (514) 866-8981 (FAX)
    tremblju@fleishman.com
    or
    Source:
    Lino P. Matteo
    Chief Executive Officer
    or
    General Information:
    (514) 762-2500
    (514) 762-6535 (FAX)
    info@mountreal.com
    www.mountreal.com