Ivrnet Inc. Reports Second Quarter Profits



    
    (TSX Venture Exchange: "IVI")
    Issued Common Shares: 28,493,167
    

    CALGARY, Sept. 3 /CNW/ - Ivrnet Inc. (TSX Venture: IVI) is pleased to
report financial results for the quarter ended June 30, 2009. In this period,
the Company generated revenues of $630,501. This represents a 1% increase over
the equivalent quarter in 2008. It is also 1% higher than reported revenues
for Q1 of 2009.
    In Q2 of 2009, the gross margin amounted to $501,679, or 80% of revenues.
This compares to a 76% gross margin achieved in the second quarter of the
previous fiscal year. Net income for Q2 of 2009 was $1,616, compared to a net
income of $4,242 in the second quarter of the previous fiscal year.
    Comparative results are summarized below.

    
    Quarter over Quarter Summary of Selected Financial Results

                                      2009       2008
    -------------------------------------------------------------------------
    $ CAD                   Q2         Q1         Q4         Q3         Q2
    -------------------------------------------------------------------------

    Revenues             630,501    625,232    534,259    591,145    622,569

    Cost of Sales       (128,822)  (106,308)   (73,779)  (123,232)  (151,718)

    Gross Margin         501,679    518,924    460,480    467,913    470,851

    Expenses            (413,459)  (442,963)  (431,612)  (367,973)  (386,313)

    EBITDA(1)             88,220     75,961     28,868     99,940     84,538

    Net Income (Loss)      1,616      1,596    (63,944)    13,236      4,241

    Earnings (Loss)
     Per Share              0.00       0.00      (0.00)      0.00       0.00

    Total Assets       1,326,751  1,065,405    995,573  1,105,416  1,240,366

    (1) EBITDA is defined as earnings before interest, taxes, depreciation
        and amortization. EBITDA is not a recognized measure under Canadian
        generally accepted accounting principles. Management believes however
        that EBITDA is a useful supplementary measure as it provides
        indication of the results of Ivrnet's business operations without
        regard to how these activities were financed or how these results
        were taxed.
    

    A more complete analysis of the Company's financial results can be found
by visiting www.sedar.ca.
    Dave Snell, Ivrnet's President and CEO stated, "Given the recessionary
environment, the Second Calendar Quarter of 2009, has been a difficult one for
many smaller IT and related technology issuers. In this context, we are
pleased that Ivrnet not only held its' own, but went on to significantly
improve its' gross margin and total asset base. As the economy gradually
improves, and businesses start to re-invest in new technology and
infrastructure, we look forward to a further strengthening of the Company, in
future reporting periods."

    About Ivrnet Inc. - Ivrnet is a communications company that develops and
operates intelligent software applications, delivered through traditional
phone networks and over the Internet. These applications facilitate automated
interaction; personalized communication between people; mass communication for
disseminating information to thousands of people concurrently; and
personalized communication between people and automated systems. Ivrnet's
applications are accessible through nearly any form of communication
technology, at anytime from anywhere in North America via voice, phone, fax,
email, texting and the Internet.

    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.

    %SEDAR: 00013393E




For further information:

For further information: please visit our website at www.ivrnet.com, or
contact: David L. Snell, Ivrnet Inc., President and CEO, (403) 538-4540,
eMail: d.snell@ivrnet.com

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