TigerTel Communications Inc.
TSX VENTURE : TTL

TigerTel Communications Inc.

December 11, 2008 16:01 ET

TigerTel Communications Inc. Announces Results for the Second Quarter Ended October 31, 2008

MISSISSAUGA, ONTARIO--(Marketwire - Dec. 11, 2008) - TigerTel Communications Inc. (TigerTel)(TSX VENTURE:TTL), announced today its operating results for the three-month period ending October 31, 2008. TigerTel reported revenue of $5,287,667, direct costs of $2,719,029 and a gross profit of $2,568,638. Operating expenses amounted to $1,927,913. Net earnings before interest, taxes, amortization and other income for the period was $640,725. Interest, amortization and provision for income taxes amounted to $91,642, $348,876 and $39,147 respectively. Gain from discontinued operation was $840, resulting in net income for the period of $161,900.

For the corresponding period last year the Company reported revenue of $5,424,736, direct costs of $2,838,616 and a gross profit of $2,586,120. Operating expenses amounted to $1,795,161. Net earnings before interest, taxes, amortization and other income for the period was $790,959. Interest, amortization and provision for income taxes amounted to $142,329, $293,686, and $130,218 respectively. Gain from discontinued operation was $16,385, resulting in net earnings for the period of $241,111.

For the six months ended October 31, 2008, TigerTel reported revenue of $10,915,011, direct costs of $5,853,865 and a gross profit of $5,061,146. Operating expenses amounted to $3,903,908. Net earnings before interest, taxes, amortization and other expense for the period was $1,157,238. Interest, amortization and provision for income taxes amounted to $193,022, $656,531 and $70,746 respectively. Loss from discontinued operation was $45,442, resulting in net earnings for the period of $191,497.

For the corresponding six month period last year the Company reported revenue of $10,868,153, direct costs of $5,563,911 and a gross profit of $5,304,242. Operating expenses amounted to $3,565,626. Net earnings before interest, taxes, amortization and other income for the period was $1,738,616. Interest, amortization and provision for income taxes amounted to $284,998, $550,187 and $345,869 respectively. Gain from discontinued operation was $32,255, resulting in net earnings for the period of $589,818.

Douglas D. Swift, President and CEO, commented, "Following a disappointing Q1, the results for Q2 are encouraging. Even though traffic volumes were substantially lower than the previous period, operating efficiencies were much improved, resulting in far superior net earnings for the quarter.

With the initial implementation of our new operating platform is close to completion, we anticipate the inherent cost savings to begin to materialize towards the end of Q3 and increase during Q4. The ability to share increased traffic volumes coupled with improved operating efficiencies will benefit both, our valued customers and TigerTel."

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