SOURCE: Visiphor Corporation

August 20, 2007 08:30 ET

Visiphor Announces Second Quarter Results

VANCOUVER, BC--(Marketwire - August 20, 2007) - Visiphor Corporation (OTCBB: VISRF) (TSX-V: VIS) (XETRA: IGYA) ("Visiphor"), a leading provider of integration software and services, announces their second quarter financial results for the period ended June 30, 2007.

Revenues for the second quarter totaled $0.9 Million, largely due to the successful completion of project work in the financial services and energy sectors, and $2.1 Million for the 6 months ended June 30, 2007. The company's year-to-date operating cash flow remained positive; reporting $63,123 for the six months ended June 30, 2007. The Company maintained its commitment to reduce expenses, which were 49% lower as compared with 2006 with a related decrease in the quarterly losses. The loss for the six months ended June 30, 2007 decreased 55% as compared to the same period in 2006.

"In order to move toward profitability, we have reduced staffing and operations costs; although this has improved profitability, there has been a corresponding drop in revenues this quarter," commented Visiphor CEO Roy Trivett. "Business activity in the law enforcement and healthcare sectors is increasing, and we believe that we are on track to achieve our objective of operational profitability before the end of the year."

The Company recommends that the full details of Visiphor's financial results be read in conjunction with this news release. These results are available by reviewing the Company's June 30, 2007 Form 10-QSB filed on both the SEDAR and EDGAR systems.

About Visiphor

Visiphor software products and services deliver practical, rapidly deployable solutions that integrate business processes and databases. The Company's solutions focus on disparate process and data management problems that exist in numerous verticals spanning government, energy, law enforcement, security, healthcare and financial services. Using industry standard Web Services and Service Oriented Architecture ("SOA"), Visiphor delivers a secure and economical approach to true, real-time application interoperability.

Visiphor is a Microsoft Gold Certified Partner. For information about Visiphor or the Company's products and services, please visit www.visiphor.com.

ON BEHALF OF THE BOARD OF DIRECTORS
"Oliver 'Buck' Revell"
Chairman, Visiphor Corporation

Investor and Media Inquiries:

Roy Trivett, CEO
Visiphor Corporation
Phone: +1-604-684-2449 Ext. 234
E-mail: roy.trivett@visiphor.com

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

Forward-Looking Statements: This press release may contain statements that constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include the risks and uncertainties described in Visiphor Corporation's Form 10-KSB filed with the United States Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Investor and Media Inquiries:

    Roy Trivett
    CEO
    Visiphor Corporation
    Phone: +1-604-684-2449 Ext. 234
    E-mail: Email Contact