TigerTel Communications Inc.
TSX VENTURE : TTL

TigerTel Communications Inc.

September 18, 2008 16:02 ET

TigerTel Communications Inc. Announces Results for the First Quarter Ended July 31, 2008

MISSISSAUGA, ONTARIO--(Marketwire - Sept. 18, 2008) - TigerTel Communications Inc. (TigerTel)(TSX VENTURE:TTL), announced today its operating results for the three-month period ending July 31, 2008. TigerTel reported revenue of $5,660,063, direct costs of $3,166,449 and a gross profit of $2,493,614. Operating expenses amounted to $1,984,433. Loss on sale of an operating division was $38,950. Net earnings before interest, taxes and amortization for the period was $470,231. Interest, amortization and provision for income taxes amounted to $101,380, $307,655and $31,599 respectively resulting in net income for the period of $29,597.

For the corresponding period last year the Company reported revenue of $5,499,709, direct costs of $2,757,403 and a gross profit of $2,742,306. Operating expenses amounted to $1,778,779. Net earnings before interest, taxes and amortization for the period was $963,527. Interest, amortization and provision for income taxes amounted to $142,669, $256,501 and $215,651 respectively resulting in net earnings for the period of $348,707.

Douglas D. Swift, President and CEO, commented, "On the heels of our excellent results for the previous year, Q1 was somewhat disappointing. While revenue remained strong, the company was faced with several non-recurring challenges that significantly inflated direct costs for the period. Operational restructuring at our Toronto office, finalizing the implementation of our new call centre operating platform, and additional training for both aforementioned initiatives were all absorbed in Q1. These changes will allow for a more seamless and cost effective transition to our new operating platform and the inherent benefits that both our customers and the company will realize in the months and years to come.

Excluding the challenges discussed above, the company performed well, meeting expectations for the period and positioning itself for continued growth over the remainder of the fiscal year. We remain confident in our ability to maintain our successful track record over the course of this year and the years to come."

About TigerTel

TigerTel, a Canadian call center organization, specializes in inbound and outbound call center solutions and services for clients throughout North America. With multiple call centers across Canada, TigerTel has built an infrastructure that provides personalized services to our clients while at the same time delivering world-class results at every level. TigerTel's vision is to provide interactive communication solutions for our clients and their customers by a team focused on service excellence, personal integrity and technical innovation.

This news release contains forward-looking statements that involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in forward-looking statements.

TIGERTEL COMMUNICATIONS INC.

Douglas D. Swift, President and Chief Executive Officer

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

Contact Information

  • TigerTel Communications Inc.
    P. Livingstone
    (905) 629-7190