Unique Broadband Systems, Inc.

Unique Broadband Systems, Inc.

July 14, 2015 16:12 ET

Unique Broadband Systems, Inc. Reports Third Quarter 2015 Results

TORONTO, ONTARIO--(Marketwired - July 14, 2015) - Unique Broadband Systems, Inc. ("UBS") (TSX VENTURE:UBS.H) today reported its financial results for the third quarter of fiscal 2015, ended May 31, 2015.

Financial highlights (in thousands, except per share amounts) include the following:

  • UBS recorded a loss before comprehensive income of $263 or $0.003 per share, basic and diluted, for the three months ended May 31, 2015, compared to income before comprehensive loss of $4.17 million or $0.041 per share, basic and diluted, for the third quarter of fiscal 2014.
  • As at May 31, 2015, UBS held cash and short-term investments totaling $245, compared to $2.04 million as at August 31, 2014. The decrease in cash was mainly due to the payment of certain claims under the Companies' Creditors Arrangement Act totaling in aggregate $1.04 million.
  • Fair value of ONEnergy shares held by UBS increased by $598, during the quarter ended May 31, 2015, to $2.64 million.

For further information on UBS' financial results, please review UBS' unaudited condensed consolidated interim financial statements and management's discussion and analysis of financial condition and results of operations for the three and nine months ended May 31, 2015 and 2014.

About Unique Broadband Systems, Inc.

UBS' shares are listed on the NEX under the symbol "UBS.H". More information on UBS can be found at www.sedar.com.

The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of UBS that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by UBS at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by UBS that actual results achieved will be the same in whole or in part as those forecast.

Neither the NEX nor its Regulation Services Provider (as that term is defined in the policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Unique Broadband Systems, Inc.
    Daniel S. Marks
    Interim Chief Executive Officer
    (905) 660-8100