(in thousands of Canadian dollars except per share data)
| 3 Months Ended
March 31, 2012
| 3 Months Ended
March 31, 2011
|EPS (Basic and fully diluted)||(0.02)||0.02|
|EPS (Fully diluted)||(0.02)||0.02|
CALGARY, May 30, 2012 /CNW/ - iMarketing Solutions Group Inc. (TSX Venture Exchange: XDM) a North American specialty events and relationship marketing company, today reported its financial results for the three months ended March 31, 2012.
Net loss for the three months ended March 31, 2012 amounted to 676 or $0.02 per share on a fully diluted basis. This compares to the net earnings for the three months ended March 31, 2011 of 580 or $0.02 per share on a fully diluted basis. EBITDA for the three months ended March 31, 2012 amounted to (515). This compares to EBITDA for the three months ended March 31, 2011 of 1,406.
The Company's complete unaudited condensed interim consolidated financial statements have been filed and are available on SEDAR.
The Company is in the process of a complete restructuring, rationalization and technology upgrade during which time there will be significant transformation of the Company operations. Until that process is complete later this year it will be necessary to maintain parallel information technology platforms together with the associated duplication of costs.
Management believes that its restructuring, rationalization and upgrade plans will yield significant cost reductions and much greater operating efficiencies into the future.
Effective immediately the Board of Directors of the Company has appointed B. Andrus Wilson to the position of Chairman.
iMarketing Solutions Group Inc. is one of North America's leading relationship-marketing concerns and producers of cause related entertainment events. The Company's success is attributable to proprietary sales tools including technologically advanced teleservices and sophisticated customer databases.
Certain statements in this press release may constitute "forward looking statements" reflecting our current beliefs, plans, estimates and expectations. These forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or the combined companies to be materially different from any performance or achievement expressed or implied by such "forward looking statements". Except as required by applicable securities laws, we undertake no obligation to update any forward looking statements for any reason after the date hereof to conform these statements to actual results or to changes in our expectations.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information:
3710 Westwinds Dr NE, Unit 24
Calgary, AB T3J 5H3
Tel: 403-537-1001 Fax:403-270-4398