SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

December 01, 2010 09:18 ET

SelectCore Announces Financial Results for Q3 2010

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2010) - SelectCore Ltd. (TSX VENTURE:SCG), a leading transaction and payment processor for prepaid telecom and financial services, announces its financial results for the third quarter ended September 30, 2010.

Revenues of $26,064,619 for third quarter 2010 represented an increase of 13% as compared to $23,063,507 in the same period 2009. The growth was attributable to new business expansion in the US market.

General and administrative expenses for the third quarter 2010 were $1,022,074, an increase of 12% over the same period 2009 due to costs associated with the Company's expansion into the US market.

Adjusted EBITDA for the third quarter 2010 was $310,311 and Net Income was $199,439.

The Company's Financial Statements and Management Discussion and Analysis for the three months ending September 30, 2010 are available on SEDAR at www.sedar.com.

About SelectCore:

SelectCore is a leading provider of point-of-sale transaction processing and electronic distribution solutions for the prepaid telecom and financial services market. Our proprietary PrepaidONE technology platform and extensive retail network delivers a full suite of prepaid products to millions of credit-challenged and unbanked consumers nation-wide. We also provide wholesale solutions to some of the industry's largest distributors, retailers and telecom providers. SelectCore is a public company on the TSX Venture Exchange trading under the symbol "SCG". We were ranked one of the nation's top 100 fastest-growing companies in 2006 and 2007 and 2009 by Profit100.

This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

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

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