180 Connect Inc. year end 2006 earnings teleconference and fiscal 2007 guidance



    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/

    Stock Symbol: TSX: NCT.U

    TORONTO, March 13 /CNW/ - 180 Connect Inc.("180 Connect" or the
"Company") (TSX:NCT.U), North America's largest provider of installation,
integration and fulfillment services to the home entertainment, communications
and home integration service industries, will be hosting a teleconference call
to discuss the Company's year end 2006 financial and operating results and
provide fiscal 2007 preliminary guidance. The financial results will be
released at 5:00 p.m. ET Thursday March 15, 2007.
    The Company expects to report revenue of approximately $335 million and
Adjusted EBITDA from continuing operations before restructuring costs(1) of
approximately $14.7 million for fiscal 2006.
    In addition, for fiscal 2007 operating results, the Company anticipates
projected revenue to range from $365 million to $375 million primarily as a
result of volume increases from its major customers and continued growth in
180 Network Services. Based on this expected increase, the Company anticipates
projected EBITDA from continuing operations(1) to range from approximately
$24 million to $26 million.

    
    -------------------------------------------------------------------------
         DATE:           Thursday, March 15, 2007
         TIME:           5:30 p.m. ET
         ACCESS NUMBER:  (617) 801-9714 International dial or 800.299.7089
                         pass code 65471605
         REBROADCAST:    (617) 801-6888 International dial or 888.286.8010,
                         pass code 44720539
    -------------------------------------------------------------------------
    

    We invite you to participate via teleconference. Please dial the access
number five minutes prior to the scheduled start time. A taped rebroadcast of
the teleconference will be available upon completion of the meeting on
March 15, 2007 at 7:00 p.m. ET to March 22, 2007 at 11:59 p.m. ET. The
rebroadcast will also be available on the Company's website
www.180connect.net.

    About 180 Connect Inc.

    180 Connect Inc. is North America's largest provider of installation,
integration and fulfillment services to the home entertainment, communications
and home integration service industries. With more than 4,000 skilled
technicians and 750 support personnel based in over 85 operating locations,
180 Connect is well positioned as the only pure play national residential
service provider in the market. 180 Connect Inc. shares are traded under the
name of 180 Connect Inc. on the TSX under the symbol NCT.U.

    Forward-Looking Information

    This news release contains forward-looking statements which reflect
Management's current expectations regarding the Company's future growth,
results of operations, performance and business prospects and opportunities.
Statements about the Company's future plans and intentions, results, levels of
activity, performance, goals or achievements or other future events constitute
forward-looking statements. These statements reflect Management's current
beliefs and are based on information currently available to Management.
Forward-looking statements involve significant risk, uncertainties and
assumptions. Many factors could cause actual results, performance or
achievements to differ materially from the results discussed or implied in the
forward-looking statements. Reference should be made to the Company's Annual
Information Form for a description of the risks and uncertainties facing the
Company. These risks and uncertainties should be considered carefully and
prospective investors should not place undue reliance on the forward-looking
statements. Although the forward-looking statements contained in this news
release are based upon what Management believes to be reasonable assumptions,
the Company cannot assure that actual results will be consistent with these
forward-looking statements.

    (1)Adjusted EBITDA from continuing operations before restructuring costs
is a non-Canadian GAAP measure which does not have any standardized meaning
prescribed by Canadian GAAP and is therefore unlikely to be comparable to
similar measures presented by other issuers. Management believes that these
terms provide a better assessment of cash flow from the Company's operations
by eliminating the charge for depreciation, amortization of customer contracts
which are non-cash expense items and restructuring costs, interest expense,
gain on sale of assets, and gain on extinguishment of debt which is not
considered to be in the normal course of operating activity. In addition,
financial analysts and investors use the EBITDA multiple for valuing companies
within the same sector, in order to eliminate the differences in accounting
treatment from one company to the next. Given that the Company is in a growth
stage, the focus on EBITDA gives the investor or reader of the Company's
financial statements and MD&A more insight into the operating capabilities of
management and its utilization of the Company's operating assets. Management
further believes that EBITDA is also the best metric for measuring the
Company's valuation.


    Reconciliation of EBITDA from continuing operations before restructuring
    costs to loss from continuing operations before income taxes

    
                                                         Twelve Months Ended
                                                            December 31,2006
    EBITDA from continuing operations before
     restructuring costs(1)                                      $14,673,977
    Restructuring Costs                                              892,688
    Depreciation                                                  13,560,340
    Amortization of customer contracts                             3,712,673
    Interest expense                                               9,501,854
    Gain on extinguishment of debt                                (1,233,001)
    Gain on sale of assets                                          (726,086)
    Loss from continuing operations before income taxes         ($11,034,491)
    

    %SEDAR: 00020398E




For further information:

For further information: please contact Investor Relations or visit our
website at www.180connect.net; Investor Relations: Claudia A. Di Maio,
Director Investor Relations, 180 Connect Inc., TEL: (866) 995-8888, DIRECT
LINE: (416) 930-7710, EMAIL: cdimaio@180connect.net

Organization Profile

180 CONNECT INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890