BURNABY, BC, Dec. 5 /CNW/ - Nicer Canada Corp. (TSX-V NC) ("Nicer" or the
"Company") today reported its results for the third quarter of 2007 ended
September 30, 2007; financial statements and management's discussion and
analysis reports have been filed with SEDAR accordingly. Nicer Canada Corp.
researches and develops a wide range of Internet Protocol (IP) networks,
applications and services for large and small companies and telecommunications
carriers. Since the Company's founding in 1994, Nicer Canada has developed
industry-leading expertise in delivering wired and wireless IP voice, data,
video and IPTV solutions, to customers worldwide.
Three months ended September 30, 2007, compared to three months ended
September 30, 2006
Q3 2007 Q3 2006
Revenues $ 126,430 $ 105,920
Cost of Sales $ 67,912 $ 77,008
Gross Profit $ 58,518 $ 48,980
Research & Development $ 47,895 $ 34,017
Operating Expenses $ 120,938 $ 88,680
Net Profit (Loss) $ (110,315) $ (73,717)
EPS basic and diluted $ (0.01) $ (0.01)
Nine months ended September 30, 2007, compared to nine months ended
September 30, 2006
Nine Months Nine Months
Revenues $ 402,711 $ 429,654
Cost of Sales $ 220,716 $ 281,884
Gross Profit $ 181,995 $ 147,770
Research & Development $ 141,186 $ 85,321
Operating Expenses $ 323,355 $ 319,674
Net Profit (Loss) $ (282,546) $ (257,225)
EPS basic and diluted $ (0.01) $ (0.01)
Revenue is comprised of sales, servicing and maintenance of IP-based
product and service, and other information technology related work. Generally,
revenue was maintained in the third quarter over the second quarter. Recurring
IP-based services revenues were up from the same quarter in 2006. Revenues
from the Company's IP-based products and services are expected to increase
dramatically in the future over the third quarter 2007. The Company expects to
receive new orders from strategic partnerships, distribution channels and
The Company's net loss for the quarter ended September 30th 2007 was
$110,315, which was $36,598 more than the same quarter in 2006. The increase
in net loss was largely attributable to the Company continuing to expend
research and development dollars on its IP-based line of products, and to a
lesser degree on the fact that, as a developer of IP products, there is a
requisite level of infrastructure required to advance and maintain IP
technology and to ensure continuing high quality of service for customers.
The Company has been finalizing its IP-product development and is
executing on initiatives that will set the stage for considerable sales growth
in the IP communications market starting in the next year, if not sooner.
"Currently, we are working to close our previously announced JMIT
acquisition in China, which is just one piece of our plan that we expect to
drive rather exciting progress for our Company over the next 12 to 15 months,"
remarked Paul Chen, CEO and Chief Technology Officer for Nicer.
Applications for devices with IP capability are still in their infancy.
Although computers, cell phones, PDA and gaming consoles - wired and wireless
- all use IP to do things that they never could before, they are just the tip
of the iceberg. Soon it will also be commonplace for devices as disparate as
the television, DVR, refrigerator, stove, home security system and baby
monitor to hold IP capability so that they can be run via computer networks.
Other devices have IP capable sensors that activate or deploy them at
appropriate times, temperatures or conditions, from lowering and raising
blinds to sensing a gas leak and shutting off the supply. Collectively, these
IP run, networked devices form the core of what is coming to be known as part
of Smart Home and Smart Buildings technologies.
"The key that makes them all possible is IP integration that can connect
any device, anytime, anywhere in a seamless connection of the mechanical,
electrical and user," explained Mr. Chen. "Expertise in developing products,
services and infrastructure supporting IP integration is the heart of Nicer's
value - and the reason behind its enormous growth potential."
Nicer's flagship products and solutions have proven themselves with
consumer and business customers in North America, Asia and the Caribbean in
three vertical markets: (I) Consumer GPS; (II) Industrial RFID and GPS
equipment and applications; and (III) Communications for IP Telephony and
Internet Protocol TV (IPTV).
Management has identified near-term goals to create growth:
a) Leverage distributor and dealer relationships to build new business;
b) Make 50% of Glopex sales outside Canada;
c) Achieve double digit growth rates in Asia and North America; and
d) Acquire local brands and manufacturing to complement organic
An additional source of capital, using a combination of government grants
(i.e. National Research Council) and either debt or equity financing, is
anticipated to achieve these objectives and provide for a smooth growth
transition on a condensed timeline. Management makes forward-looking
determinations of its cash flow needs on a quarterly basis.
The outlook for the fourth quarter and for 2008 is for significant
positive impact on revenues and income with potentially rapid growth to come
dependent upon progress in the acquisition program and adequate financing.
Headquartered in Burnaby, British Columbia, Nicer Canada Corp. became a
publicly-traded company in 2003, and is now listed on the TSX Venture Exchange
under the symbol "NC". Currently there are 21,263,334 common shares issued and
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For further information:
For further information: visit the website at www.nicertech.com; or call
(604) 299-2385 or contact Nicer Canada Corporation: Anne H. Chen, Tel: (604)
299-2385 ext. 118, Email: firstname.lastname@example.org; CHF Investors Relations: Barry
Leung, Tel: (416) 868-1079 ext. 247, Email: email@example.com; Chris Haldane,
Tel: (416) 868-1079 ext. 237, Email: firstname.lastname@example.org