October 31, 2005 20:51 ET

Uniserve Communications Corporation Releases First Quarter Financial Statements Showing Continued Strong Revenue Growth and EBITDA

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 31, 2005) - Uniserve Communications Corporation (TSX VENTURE:USS) ("Uniserve") has released its financial statements for the quarter ended August 31, 2005 maintaining positive financial results while undergoing a significant corporate re-alignment.

First quarter revenues grew strongly to $4.03 million from $3.34 million at the end of the same quarter the previous year. This 21 % increase was driven primarily by the acquisition of Interbaun Communications, an Alberta corporation, in January 2005. Total liabilities continue to reduce totaling $5.5 million at quarter end representing a reduction of $0.4 million or 7.3% from the previous quarter. This reduction continues the positive trend down from the $7.47 million in total liabilities at the end of the same quarter the previous year combining for a total reduction of 26.4%. EBITDA improved by 16% to $0.423 million from $0.366 million at the same time the previous year.

"We are happy with the financial results we've achieved during this time of corporate repositioning" says Uniserve CEO Wil Spratt. "Our EBITDA numbers were achieved despite the costs we incurred improving our product delivery systems, closing four satellite offices and ramping up our Vancouver call centre. The corporate re-alignment is complete, new product capabilities are in place, and we are poised to accelerate growth."

Uniserve Communications delivers voice and data communications services to 70,000 small and medium sized businesses and consumers in urban and rural markets across Canada, offering scalable solutions including high speed Internet, web hosting, long distance and fax to email. Uniserve is an industry leader in the integration of voice and data services over multiple IP networks including cable, ADSL and wireless broadband. To service these networks, Uniserve has developed a proprietary ordering and provisioning system that will allow customers to dynamically customize their own services, test new technologies and receive support through web portals and an award winning call centre. Uniserve is publicly traded company listed on the Canadian TSX.V exchange under the trading symbol "USS".

More information on the company and its products and services can be found on its web site www.uniserve.com. Additional corporate and financial information may be found at www.sedar.com.

This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.

On Behalf of the Board,

William Spratt, President and CEO

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

Contact Information

  • Uniserve Communications Corporation
    William Spratt
    President and CEO
    (604) 387-8030