MPVC Inc. Releases December 31, 2007 Annual Audited Financial Statements
April 29 2008 - 8:00PM
Marketwired
TORONTO, ONTARIO (the "Company") released its audited annual
statements today. The Company reported that its wholly-owned
subsidiaries, One Contact Inc. (US) and One Contact (Canada) Inc.
("OCI"), which are reflected in its consolidated statements,
reported record interim Canadian GAAP financial results for the
three month period ended December 31, 2007.
For the year ended December 31, 2007 the Company posted revenues
of $6,745,850 and a net loss of ($1,386,022) , compared to
$2,589,393 sales and a loss of ($1,359,219) for the year ended
December 31, 2006. The per share loss for 2007 is ($0.11) compared
to per share of ($0.13) reported for the year end December 31,
2006.
The Company also reported cash and short-term investments of
$43,294, for the year ended December 31, 2007. Accounts receivable,
net of an allowance for doubtful accounts, totaled $508,176 and
other current assets, composed primarily of prepaid items, were
$67,831.
"Our 2007 year was more difficult than anticipated, however we
are pleased with the progress overall. MPVC is now an established
player in the mid-market business process outsourcing space with
strong pricing and exceptional quality across many industry
verticals. Our strengths in telecommunications, energy, financial
Services and other areas are yielding profitable growth. The
significant one-time expenditures are behind us and our
capabilities are established and known to the market. We are
planning the launch of several new customers through 2008. We will
continue to review acquisitions as the opportunities present
themselves and look forward to fulfilling our strong organic
pipeline as our primary source of growth." - commented Michael
Hilmer, CEO.
About MPVC Inc.
The Company, through its wholly owned subsidiary OCI, is
committed to providing and managing specialized inbound and
outbound customer care, sales and marketing, technical support and
many other centralized contact center services to its clients. The
Company's focus is on providing single source solutions for all
clients' contact center needs from its growing base of delivery
centers. The Company is dedicated to providing a quality and
breadth of service that exceeds client expectations.
This press release contains forward-looking statements. The
Corporation is subject to significant risks and uncertainties which
may cause the actual results, performance or achievements of the
Corporation to be materially different from any future results,
performance or achievements expressed or implied in such
forward-looking statements. Such risk factors include, but are not
limited to, risks associated with public markets, competition, lack
of available acquisition opportunities, market price of the
Corporation's shares, failure to obtain additional financing,
dilution, customer credit risk, reliance on key personnel, changes
in legislation, environmental matters, potential conflicts of
interest and risk of loss of key contracts. The Corporation cannot
assure investors that actual results will be consistent with any
forward-looking statement and the Corporation assumes no obligation
to update or revise such forward-looking statements to reflect
actual events or new circumstances.
The TSX Venture does not accept responsibility for the adequacy
or accuracy of this release.
Contacts: MPVC Inc. Graham Kemp Chairman of the Company (480)
575-9481 MPVC Inc. Michael Hilmer CEO of the Corporation (416)
420-5529 Email: mhilmer@onecontactinc.ca
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