Ivrnet Inc. Reports Continued Profits in Third Quarter of 2010

(TSX Venture Exchange: "IVI")
Issued Common Shares: 30,625,126

CALGARY, Nov. 23 /CNW/ - Ivrnet Inc. (TSX Venture: IVI) is pleased to report financial results for the quarter that ended September 30, 2010. In this period, the Company generated revenues of $1,013,275. This represents a 45% increase over the equivalent quarter in 2009 and is the second quarter in the company's history that has consecutively generated over one million dollars in revenue.  Net income for Q3 of 2010 was $53,261, compared to a net loss of $98,925 in the second quarter of the previous fiscal year.

Comparative results are summarized below.

Quarter over Quarter Summary of Selected Financial Results

													2010					2009
$ CAD			Q3					Q2					Q1					Q4					Q3
Revenues			1,013,275					1,019,392					824,712					625,225					696,489
Cost of Sales			(279,990)					(284,973)					(184,951)					(197,231)					(159,654)
Gross Margin			733,285					734,419					639,761					427,995					536,835
Expenses			590,066					597,357					559,996					564,545					(447,939)
EBITDA (1)			143,219					137,062					79,765					(136,550)					88,896
Net Income (Loss)			53,261					47,772					(6,958)					(234,058)					(98,925)
Earnings (Loss) Per Share			0.00					0.00					(0.00)					(0.01)					(0.00)
Total Assets			1,884,900					1,779,394					1,631,721					1,593,392					1,660,086

(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.

"Building on a record second quarter, Ivrnet's third quarter has continued to surpass $1,000,000 in revenue. As we enter Q4, historically our weakest quarter, we feel Ivrnet is stronger than it has ever been and is developing positive momentum." stated David Snell, Ivrnet's President and CEO.

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

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