September 19, 2007 14:59 ET

MPVC Inc. Releases June 30, 2007 Quarterly Financial Statements

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2007) - MPVC Inc. (TSX VENTURE:OCI) (the "Company") released its management prepared consolidated second quarter financial statements today. The Company reported that its wholly-owned subsidiaries, One Contact Inc. (US) and One Contact (Canada) Inc. ("OCI"), which are reflected in its consolidated statements, reported record interim Canadian GAAP financial results for the three month period ended June 30, 2007.

For the three month period ended June 30, 2007 the Company posted revenues of $1,763,750 as compared to $580,721 for the three month period ended June 30, 2006. The increase was primarily due to new contract signings that resulted in a launch of the Toronto offices in addition to expansion of existing service agreements. The company reported Net Income of $78,042 for the quarter, and $126,885 on a year to date basis.

The Company also reported cash and short-term investments of $527,838, for the three months ended June 30, 2007. Accounts receivable, net of an allowance for doubtful accounts, at the end of Q2-2007 totaled $659,203 and other current assets, composed primarily of prepaid items, totaled $507,000.

"The results are in line with our plan, and slightly ahead of our revenue targets for 2007. Year over year growth has been exceptional with continued positive net income. With aggressive growth comes important strategic investment in training, development and infrastructure in order to ensure we stay competitive and scalable to ensure we maximize our pipeline opportunities. I am pleased with the dramatic growth year over year, approximating 300%+ on a year to date basis when compared to the same six month period in 2006" commented Michael Hilmer, CEO.

About MPVC Inc.

The Company, through its wholly owned subsidiary OCI, is committed to providing and managing specialized inbound and outbound customer care, sales and marketing, technical support and many other centralized contact center services to its clients. The Company's focus is on providing single source solutions for all clients' contact center needs from its growing base of delivery centers. The Company is dedicated to providing a quality and breadth of service that exceeds client expectations.

This press release contains forward-looking statements. The Corporation is subject to significant risks and uncertainties which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Such risk factors include, but are not limited to, risks associated with public markets, competition, lack of available acquisition opportunities, market price of the Corporation's shares, failure to obtain additional financing, dilution, customer credit risk, reliance on key personnel, changes in legislation, environmental matters, potential conflicts of interest and risk of loss of key contracts. The Corporation cannot assure investors that actual results will be consistent with any forward-looking statement and the Corporation assumes no obligation to update or revise such forward-looking statements to reflect actual events or new circumstances.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • MPVC Inc.
    Graham Kemp
    Chairman of the Corporation
    (480) 575-9481
    MPVC Inc.
    Michael Hilmer
    CEO of the Corporation
    (416) 420-5529