MONTREAL, Nov. 29 /CNW/ - Montec Holdings Inc. ("Montec" or the
"Company") (TSX-V : MTE), a holding company focused on acquiring and
developing a diversified portfolio of high-growth technology companies, today
announced its operational and financial results for the fiscal quarter ended
on September 30, 2007.
Third Quarter Highlights
- 46% revenue increase from the second quarter of 2007
- Generated revenues of $4.1 M in the first nine months of 2007 with a
9.7% normalized EBITDA
"During the third quarter our subsidiary Datex significantly increased
its sales, which resulted from the integration of business activities of
Contour Telecom Inc. and Angus Dortmans Associates Inc. We feel this increase
proves Datex's scalability which will spearhead our holding's growth," said
Myer Bentob, President and CEO of Montec Holdings Inc. "Our objective going
forward will be to drive business efficiencies and generate profits for the
benefit of our shareholders. In addition, we intend to pursue selected
acquisitions of private companies in the IT and high-tech sectors".
Montec Consolidated Financials
In the quarter ended September 30, 2006, the Company was a "capital pool
company" focused on identifying and evaluating opportunities to acquire shares
or businesses in order to complete a "qualifying transaction" (as defined in
Policy 2.4 of the TSX Venture Exchange). Thus, comparison of results for this
quarter and the nine-month period versus the same periods of 2006 will reveal
no pertinent information.
Total revenue for the third quarter ended September 30, 2007 was
$1,797,473 and $4,147,204 for the nine-month period.
Net loss for the quarter ended September 30, 2007 was $246,506 or $0.011
per basic and diluted share. Net loss for the nine-month period amounted to
$536,417 or $0.025 per basic and diluted share.
Normalized earnings before interests, taxes, depreciation and
amortization ("EBITDA") totalled $108,967, or 6.1% of revenues, and $402,920,
or 9.7% of revenues, for the three and nine-month periods respectively.
Working capital was negative at $831,557, a decrease of $246,587 from the
December 31, 2006 balance of $11,448.
As of September 30, 2007, there were 14,454,500 common shares issued and
outstanding and 7,294,118 Series A preferred shares issued and outstanding. Of
these, an aggregate of 2,538,000 common shares were held in escrow pursuant to
the policies of the TSX Venture Exchange relating to capital pool companies.
Datex Billing Services Inc. Financials
All Montec revenues are generated by its 51% owned subsidiary Datex
Billing Services Inc. During the nine-month period ending September 30, 2007,
Datex revenues totalled $4,147,204 with income before income taxes of
$663,965, or 17% of revenues, and $907,764 of normalized EBITDA, or 22% of
On November 16th, 2007, The Board of Directors accepted the resignation
of Mr. Albert Ho from his positions of Corporate Secretary of the Board of
Directors and Chief Operating Officer of Montec Holdings. The Company is
grateful for all his services rendered. Ms. Lisa Mercier is replacing Mr. Ho
as Corporate Secretary.
Additional information about the Company, including the management report
and financial results may be found on SEDAR at www.sedar.com.
About Montec Holdings Inc.
Montec Holdings Inc. is listed on the TSX Venture Exchange (TSX-V: MTE).
Montec's objective is to create shareholder value by building a profitable
technology entity with high-growth potential. Structured as a holding company,
it will acquire, in each case, at least 51% shareholdings of a number of
synergetic companies and it will develop a diversified portfolio of
high-growth technology companies. For more information about Montec Holdings,
please visit our website at www.montecholdings.com
Forward Looking Statements
This press release contains forward-looking statements which reflect the
Company's current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could differ
materially from those projected herein. The Company disclaims any obligation
to update these forward-looking statements.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Myer Bentob, Chairman & CEO, Montec Holdings
Inc., Tel: (514) 630-7262, Email: email@example.com; Matthieu
Cardinal, Investor Relations, The Equicom Group Inc., Tel: (514) 844-6054,