(TSX Venture Exchange: "IVI")
Issued Common Shares: 24,715,668
CALGARY, Sept. 5 /CNW/ - Ivrnet Inc. (TSX Venture: IVI) for the second
consecutive quarter reports its largest quarterly revenue to date giving it a
profitable second quarter of 2007.
Dave Snell, the president of Ivrnet Inc., is pleased with the progress
the company continues to make in new business as well as new efficiencies in
systems and technology. "We continue to make great strides in all business
lines as we move Ivrnet into the first rank of telephony companies," comments
Snell. "This year is shaping up as our most exciting and productive ever."
A new and improved iteration of Ivrnet Golf has delivered superior
service and results. Increased training of staff and better infrastructure
continue to have an impact on the bottom line as well as improving the outlook
for the future. Better and more robust tools have increased customer
satisfaction and improved reliability. Ivrnet Inc. is continuing its move into
the first rank of application service providers for telephony users.
The financial outlook reflects the operational improvements with net
income for the second quarter at $718 compared to net income of $2,824 in the
second quarter of 2006. Revenues for the quarter were up 80% to $511,292
compared to $283,767 for the same quarter in 2006. EBITDA for the first
quarter increased by 111% to $58,865 compared to $27,874 for the second
quarter of 2006. Expenses were also higher in the second 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 Q2 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 third quarter are
expected to remain consistent with the second quarter of 2007. It is expected
revenues will decline in the fourth quarter following the end of the 2007 golf
season. It is also expected that expenses will increase in the last two
quarters of 2007 as salary and management costs increase.
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: