MISSISSAUGA, ONTARIO (TigerTel), announced today its operating
results for the three-month period ending April 30, 2008. TigerTel
reported revenue of $5,784,906, direct costs of $3,105,721 and a
gross profit of $2,679,185. Operating expenses amounted to
$2,132,022. Net earnings before interest, taxes and amortization
for the period was $547,164. Interest, amortization, provision for
current income taxes and recovery of future income taxes amounted
to $114,113, $216,156, $200,347 and $300,000 respectively resulting
in net earnings for the period of $316,548.
For the corresponding period last year the Company reported
revenue of $5,324,482, direct costs of $2,718,444 and a gross
profit of $2,606,038. Operating expenses amounted to $1,888,564.
Net earnings before interest, taxes and amortization for the period
was $717,474. Interest, amortization, provision for current income
taxes and recovery of future income taxes amounted to $141,095,
$281,411, $165,058 and $59,575 respectively resulting in net
earnings for the period of $189,485.
For the year-ended April 30, 2008, TigerTel reported revenue of
$22,320,188, direct costs of $11,595,930 and a gross profit of
$10,724,258. Operating expenses amounted to $7,651,130. Net
earnings before interest, taxes and amortization for the year was
$3,073,128. Interest, amortization, provision for income taxes and
recovery of future income taxes amounted to $527,565, $1,131,882,
$641,480 and $330,000 respectively resulting in net earnings for
the year of $1,102,201.
For the previous year the Company reported revenue of
$19,294,443, direct costs of $9,937,399 and a gross profit of
$9,357,044. Operating expenses amounted to $6,941,121. Net earnings
before interest, taxes and amortization for the year was
$2,415,923. Interest, amortization and provision for current and
future income taxes amounted to $559,779, $1,043,577, 171,835 and
$107,425 respectively resulting in net earnings for the year of
$533,307.
Douglas D. Swift, President and CEO, commented, "We have just
completed another record breaking year. The company achieved
organic revenue growth of over 15% and was able to maintain its
operating efficiencies. Most importantly we saw our net earnings
more than double from last year. These impressive results were
achieved while, at the same time, we were involved with the
installation and implementation of our new call centre operating
platform. This is a major project for the Company and one that will
continue well into the new fiscal year. It has been a major
expenditure but we are extremely excited by the opportunities that
this new feature rich, robust platform will afford us and our
growing customer base in the coming years."
"Looking forward to the new fiscal year, we are confident in our
ability to sustain historical growth patterns. Our team is poised
to deliver increased revenue and net earnings, while maintaining
service levels demanded by our clients. Fiscal '09 will be our most
exciting year yet."
About TigerTel
TigerTel, a Canadian call center organization, specializes in
inbound and outbound call center solutions and services for clients
throughout North America. With multiple call centers across Canada,
TigerTel has built an infrastructure that provides personalized
services to our clients while at the same time delivering
world-class results at every level. Tigertel's vision is to provide
interactive communication solutions for our clients and their
customers by a team focused on service excellence, personal
integrity and technical innovation.
This news release contains forward-looking statements that
involve risks and uncertainties and are based on current
expectations. Consequently, actual results could differ materially
from the expectations expressed in forward-looking statements.
TIGERTEL COMMUNICATIONS INC.
Douglas D. Swift, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content on this
news release.
Contacts: TigerTel Communications Inc. P. Livingstone (905)
629-7190
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