(TSX Venture Exchange: "IVI")
Issued Common Shares: 23,840,668
CALGARY, June 4 /CNW/ - Ivrnet Inc. (TSX Venture: IVI) reports its
largest quarterly revenue to date and a profitable first quarter of 2007.
Ivrnet Inc. has spent the last year working on improving foundational
issues. Ground level improvements in the areas of staff, technology, financial
systems, and systems have led to an increase in productivity, greater system
stability, and improved revenues. Client satisfaction has increased with more
customer support and faster issue resolution. These changes have set Ivrnet on
a well charted course to continue to improve its fundamental core business
systems and operations as well as widening its horizons and opportunities.
The integration of the Voicelink acquisition continues to pay dividends
in more robust and advanced products. This acquisition has given the company
increased management and technical bench strength. The effectiveness of the
integration shows the ability of management to create an environment that
values continuous improvement as well as innovation and teamwork.
The financial outlook reflects the operational improvements with net
income for the first quarter at $4,794 compared to net income of $7,190 in the
first quarter of 2006. Revenues for the quarter were up 26% to $442,398
compared to $350,248 for the same quarter in 2006. EBITDA for the first
quarter increased by 44% to $46,107 compared to $31,861 for the first quarter
of 2006. Expenses were also higher in the first quarter of 2007 as a result of
the additional support and programming staff having been added.
A full analysis of the quarter can be found by visiting www.sedar.ca.
In Q1 continued growth in the automotive and telephony segments was
supplemented with new professional services revenue. With the start of the
2007 golf season in the second quarter revenues for the next two quarters are
expected to remain consistent with the first quarter of 2007.
About Ivrnet Inc. - Ivrnet is a technology company offering hosted
telephone and business solutions comprising the integration of telephone and
Web technologies. Ivrnet offers these integrated solutions to a variety of
markets including Golf, Medical and Automotive industries. Ivrnet also offers
a number of telephony products including Unified Messaging services, Virtual
Telephone Switches, Hosted Call Centers, and Conference Calling interfaces.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This information
release may contain certain forward-looking information. Actual future results
may differ materially from those contemplated. The risks, uncertainties and
other factors that could influence the actual results are described in
documents filed with regulatory authorities.
For further information:
For further information: please visit our website at www.ivrnet.com, or
contact: David L. Snell, Ivrnet Inc., President, (403) 538-4540, eMail: