Cyberplex Announces Record First Quarter Results



    307% revenue growth and earnings per share of 8 cents

    TORONTO, May 7 /CNW/ - Cyberplex Inc. (TSX:CX) a leader in online
performance-based advertising solutions, customer acquisition strategies and
technology development, today announced its first quarter financial results
for the period ended March 31, 2009.

    
    -   Revenue of $32 million increased 307% from the same quarter in the
        previous year
    -   Earnings before amortization, interest and other items increased by
        $4.0 million to $4.2 million
    -   Net income of $4.1 million
    -   Net cash balance of $4.7 million and $7.1 million of available credit
        facilities
    -   Working capital of $8.9 million
    

    Cyberplex continued the trend of producing record results despite the
challenging global economic conditions. The compelling value proposition of
measurable, ROI-based results continues to win over advertisers.
    "We are pleased to see continued validation and adoption of our business
model by advertisers and publishers alike. We look forward to building upon
this foundation through continued investment in our technology platform and
distribution capabilities to deliver enhanced value to our clients," said
Geoffrey Rotstein, President and Chief Executive Officer of Cyberplex.

    
    2009 First Quarter Highlights

    -   Delivered the highest revenue in the history of the Company
    -   Ranked 2nd by Branham Group as 'Top 20 Movers and Shaker', and ranked
        as one of the 'Fastest Growing Technology Companies' in Canada
    -   Launched ShopCauses.com, a proprietary, innovative social media
        application delivered through Facebook
    -   Grew international traffic sources and advertising relationships
    -   Continued to integrate the Technology Services division with the web
        advertising platform to improve the capacity of distribution channels
        and to better position the Company for future growth
    

    Results for the First Quarter of 2009

    First quarter revenue of $32.1 million was an increase of 307% over the
$7.9 million generated last year. This growth was achieved primarily from the
Web Advertising division through the addition of new publishers, the increase
in campaign budgets and the continued momentum of proprietary publishing
initiatives. Income before amortization, interest and income taxes for the
quarter increased to $4.3 million, up from $221,000 in the first quarter of
2008. Gross margin for the quarter was 31% compared to 32% in the first
quarter of 2008, which are in line with Company expectations.

    Conference Call Details

    In conjunction with the release, Cyberplex will host a conference call on
Thursday, May 7th, 2009 at 4:30 p.m. EST to discuss the financial results. To
access the call, please dial 1-888-892-3255. Please call five minutes prior to
the call.
    A replay of the conference call will be available as of 12:00 a.m. the
same day, until midnight May 14th, 2009. To access the replay dial
1-800-937-6305 followed by the pass-code 214817.

    About Cyberplex

    Cyberplex Inc. (www.cyberplex.com) is a leader in providing web
advertising solutions, online customer acquisition strategies and technology
development. The Company, through its subsidiaries, leverages its proprietary
affiliate network, robust advertising relationships and experience, along with
technology design, development and solutions specialists to develop and
implement web-based programs and solutions that have a proven record in
delivering results.
    With over 14 years of experience serving Fortune 1000 clients including
FTD, Xerox, Sony Canada, IAC, Atlantic Lottery Corporation, Vista Print,
Aecon, Ontario Power Generation, Scotia Bank and the Royal Bank of Canada,
Cyberplex is frequently the firm of choice for business leaders looking for
effective and reliable online solutions. Cyberplex serves clients across
Canada and the US and is headquartered in Toronto, Canada.

    -------------------------------------------------------------------------

    FORWARD LOOKING STATEMENTS:

    This news release may contain forward-looking statements that are based
on management's current expectations and are subject to known and unknown
uncertainties and risks, which could cause actual results to differ materially
from those contemplated or implied by such forward-looking statements.
    Cyberplex is under no obligation to update any forward-looking statements
contained herein should material facts change due to new information, future
events or otherwise.


    
    CYBERPLEX INC.
    CONSOLIDATED BALANCE SHEETS

                                                 as at             as at
                                            March 31, 2009  December 31, 2008
                                           ----------------  ----------------
                                              (unaudited)        (audited)
    ASSETS

    Current Assets:
      Cash, cash equivalents and
       short-term investments                 $  5,650,377      $  5,364,384
      Accounts receivable, net of allowance
       for doubtful accounts of $1,787,159
       (2008 - $1,531,229)                      13,218,190        14,079,236
      Prepaid expenses and other assets          2,952,734           668,503
                                           ----------------  ----------------
                                                21,821,301        20,112,123

    Capital assets                               1,123,919           993,868
    Goodwill                                    14,031,813        13,936,813
                                           ----------------  ----------------
                                              $ 36,977,033      $ 35,042,804
                                           ----------------  ----------------
                                           ----------------  ----------------


    LIABILITIES AND SHAREHOLDERS' EQUITY

    Current Liabilities:
      Bank indebtedness                       $    953,720      $  3,535,264
      Accounts payable and accrued
       liabilities                              11,584,416        11,529,047
      Unearned revenue                             334,835           153,813
      Deferred lease inducements                    62,323            62,323
                                           ----------------  ----------------
                                                12,935,294        15,280,447

    Deferred lease inducements                     140,877           153,774

    Shareholders' equity                        23,900,862        19,608,583

                                           ----------------  ----------------
                                              $ 36,977,033      $ 35,042,804
                                           ----------------  ----------------
                                           ----------------  ----------------

    CYBERPLEX INC.
    CONSOLIDATED STATEMENT OF OPERATIONS

                                                  Three months ended
                                            March 31, 2009    March 31, 2008
                                              (unaudited)       (unaudited)
                                           ----------------  ----------------

    Revenue                                   $ 32,141,538      $  7,896,880
    Cost of revenue                             22,287,473         5,336,946
                                           ----------------  ----------------
                                                 9,854,065         2,559,934
    Expenses
      Sales and marketing                        4,311,216         1,493,314
      General and administrative                 1,763,974           919,803
      Foreign exchange (gain)                     (472,584)          (74,363)
                                           ----------------  ----------------
                                                 5,602,606         2,338,754

    Income before the undernoted                 4,251,459           221,180

      Amortization of capital assets                77,609            74,197
      Amortization of intangible assets                  -            86,330

    Income from operations                       4,173,850            60,653

      Interest expense                             (41,879)          (21,379)
      Interest income                                1,138            12,584

                                           ----------------  ----------------
    Net income                                   4,133,109            51,858

    Unrealized gain on available for sale
     securities                                     50,740                 -

                                           ----------------  ----------------
    Comprehensive income                         4,183,849            51,858
                                           ----------------  ----------------
                                           ----------------  ----------------

    Basic earnings per share                   $      0.08       $      0.00
    Diluted earnings per share                 $      0.07       $      0.00

    Weighted average number of common
     shares used in income per share
      Basic                                     53,623,995        47,120,956
      Diluted                                   56,775,060        47,856,746
    

    %SEDAR: 00005639E




For further information:

For further information: Alexzandria Johnson, Marketing Manager,
Cyberplex Inc., 1255 Bay Street, Suite 400, Toronto, Ontario, M5R 2A9, p:
(416) 260-4482, f: (416) 597-2345, alexzandria.johnson@cyberplex.com,
alexzandria@cxdigital.com, www.cyberplex.com

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