Welcome!

News Feed Item

Cyberplex Reports Third Quarter 2012 Results

TORONTO, ONTARIO -- (Marketwire) -- 11/14/12 -- Cyberplex Inc. (TSX:CX) a leader in data-driven advertising and targeted media platforms, today announced its financial results for the third quarter ended September 30, 2012. Total revenue from continuing operations for the quarter was $3.5 million, an increase from the $3.1 million recorded in the same quarter of 2011, and adjusted EBITDA loss for the quarter was approximately $332,000 as compared to a loss of $593,000 in the same period of 2011. The loss from continuing operations for the period was $522,000 as compared to a net loss of $596,000 for the same quarter of 2011.

Highlights for the Third Quarter ended September 30, 2012


--  At September 30, the Company had cash on hand of $5.4 million and no
    debt 
--  Third quarter revenue from continuing operations increased by 12% as
    compared with the same period of 2011 
--  Key investments were made in the core advertising platform, resulting in
    two large agency clients added in the quarter 
--  Exclusive content and data partnerships were established to further the
    Company's mobile and social media capabilities 

"With a stronger balance sheet, we were able to make meaningful investments in the quarter that will help accelerate our growth," said Geoffrey Rotstein, President and CEO of Cyberplex. "Our experience in building and operating large scale advertising platforms that analyze and process massive amounts of data has made our core advertising platform among the most innovative and high performing in the industry," added Rotstein. "We are already winning key accounts away from some of the larger players, and with the investments we are making, we will continue to innovate and lead this market."

Normal Course Issuer Bid and Automatic Share Purchase Plan:

On April 24, 2012, the Company announced a Normal Course Issuer Bid ("Issuer Bid") under which it could purchase up to 11,913,232 of its common shares, representing approximately 10% of the "public float" of common shares, commencing on May 14, 2012 for a period of one year. The daily limit for repurchases under the Issuer Bid is 40,721 shares, in accordance with Toronto Stock Exchange approval of the Issuer Bid. As of the date of filing, the Company has repurchased and cancelled 667,047 of its common shares under the Issuer Bid.

Today, the Company also announced receipt of TSX approval with respect to its request to establish an automatic share purchase plan (the "Plan") for its common shares. The Plan was established to provide standard instructions regarding how the Company's common shares are to be purchased under the Issuer Bid, subject to pre-established parameters. During the term of the Plan, the Company will not communicate any material undisclosed information to the trading staff of the broker appointed under the Plan; accordingly, the broker may make purchases regardless of whether a trading blackout period is in effect or whether there is material undisclosed information about the Company at the time that purchases are made under the Plan. Pursuant to the terms of the Plan, provided that the Company is neither in possession of material undisclosed information relating to the Company nor in a trading blackout period, the Company shall have the ability to authorize the broker to make purchases outside of the pre-established price limits. The Plan will commence on November 19, 2012 and terminate together with the Issuer Bid on May 13, 2013.

The Plan constitutes an automatic plan for the purposes of applicable Canadian securities legislation and has been reviewed and approved by the TSX. In the event that the Plan is materially varied, suspended or terminated, the Company will issue a press release advising of such variation, suspension or termination, as applicable.

Non-IFRS Financial Measures

This press release includes a discussion of "Adjusted EBITDA," which is a non-IFRS financial measure. The Company defines Adjusted EBITDA as net loss from operations before; (a) depreciation of property and equipment and amortization of intangible assets; (b) stock-based payments, (c) restructuring and acquisition costs, (d) impairments of goodwill and intangible assets and other items, net. Management uses Adjusted EBITDA as a measure of the Company's operating performance because it provides information related to the Company's ability to provide operating cash flows for acquisitions, capital expenditures and working capital requirements. The Company also believes that analysts and investors use Adjusted EBITDA as a supplemental measure to evaluate the overall operating performance of companies in its industry.

The non-IFRS financial measure is used in addition to and in conjunction with results presented in accordance with the Company's consolidated financial statements prepared in accordance with IFRS and should not be relied upon to the exclusion of IFRS financial measures. Management strongly encourages investors to review the Company's consolidated financial statements in their entirety and to not rely on any single financial measure. Because non-IFRS financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-IFRS financial measures having the same or similar names. In addition, the Company expects to continue to incur expenses similar to the non-IFRS adjustments described above, and exclusion of these items from the Company's non-IFRS measures should not be construed as an inference that these costs are unusual, infrequent or non-recurring.

The table below reconciles net loss from continuing operations and Adjusted EBITDA for the periods presented:


----------------------------------------------------------------------------
                                   Three months ended   Nine months ended   
                                     September 30,        September 30,     
(In thousands of Canadian dollars)     2012      2011       2012       2011 
----------------------------------------------------------------------------
                                                                            
Net (loss) from operations         $   (716) $ (1,210) $  (2,930) $  (4,402)
Add:                                                                        
Depreciation of property and                                                
 equipment                               62       105        213        295 
Amortization of intangible assets       285       491        839      1,492 
Restructuring expenses                    -         -          -         50 
Stock based payments                     37        21         39        118 
----------------------------------------------------------------------------
Adjusted EBITDA                    $   (332) $   (593) $  (1,839) $  (2,447)
----------------------------------------------------------------------------

About Cyberplex

Cyberplex Inc. (www.cyberplex.com) is a leader in data-driven advertising and targeted media platforms that provide a smarter way to buy media and reach audiences. The Company, through its subsidiaries, empowers advertisers by combining powerful data with proprietary and best-of-breed technology to target and monetize their most relevant audiences. Cyberplex Engage leverages unique data sets and real-time advertising technology to identify and target relevant audiences across online, mobile and social media channels. Cyberplex Brand increases the value of online, mobile and video content by building loyal audiences and deploying leading strategies that turn media assets into brands. Cyberplex is a key partner for leading agencies, advertisers and networks across North America who are looking to get more value out of advertising and media initiatives.

Forward-Looking Statements

This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Cyberplex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.


Cyberplex Inc.                                                              
Unaudited Interim Condensed Consolidated Statements of Financial Position   
(In thousands of Canadian dollars)                                          
                                                                            
September 30, 2012 and December 31, 2011                                    
                                                                            
                                     September 30, 2012    December 31, 2011
----------------------------------------------------------------------------
                                                                            
Assets                                                                      
                                                                            
Current assets:                                                             
Cash and cash equivalents              $          5,358     $          4,050
Accounts receivable                               2,658                8,769
Income taxes recoverable                              -                   31
Other current assets                                533                6,907
----------------------------------------------------------------------------
                                                  8,549               19,757
                                                                            
Non-current assets:                                                         
Restricted cash                                       -                2,357
Long-term investment                                 50                    -
Property and equipment                              525                1,998
Intangible assets                                 3,156               22,069
Goodwill                                            353                  365
----------------------------------------------------------------------------
                                                  4,084               26,789
                                                                            
----------------------------------------------------------------------------
Total assets                           $         12,633     $         46,546
----------------------------------------------------------------------------
                                                                            
                                                                            
Liabilities and Shareholders'                                               
 Equity                                                                     
                                                                            
Current liabilities:                                                        
Accounts payable and accrued                                                
 liabilities                           $          2,616     $         13,707
Current portion of loans and                                                
 borrowings                                           -                4,634
Current portion of finance lease                    126                   63
Current portion of deferred lease                                           
 inducements                                         63                   71
Deferred revenue                                    425                  498
Income taxes payable                                  -                  348
----------------------------------------------------------------------------
                                                  3,230               19,321
                                                                            
Non-current liabilities:                                                    
Loans and borrowings                                  -               20,732
Finance Lease                                       252                  104
Deferred lease inducements                            2                  114
Deferred tax liabilities                            438                  603
----------------------------------------------------------------------------
                                                    692               21,553
                                                                            
Shareholders' Equity                              8,711                5,672
                                                                            
----------------------------------------------------------------------------
Total liabilities and                                                       
 Shareholders' equity                  $         12,633     $         46,546
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            
Cyberplex Inc.                                                              
Unaudited Interim Condensed Consolidated Statements of Comprehensive Income 
 (Loss)                                                                     
(In thousands of Canadian dollars, except per share amounts)                
Three and nine months ended September 30, 2012 and 2011                     
                                                                            
                         Three months ended          Nine months ended      
                           September 30,               September 30,        
                             2012          2011          2012          2011 
                                                                            
----------------------------------------------------------------------------
Continued operations:                                                       
                                                                            
Revenue                $    3,508    $    3,123    $   10,930    $    9,317 
                                                                            
Expenses:                                                                   
 Publishing and                                                             
  advertising costs         1,939         1,557         6,276         5,091 
 Employee                                                                   
  compensation and                                                          
  benefits                  1,237         1,316         3,996         4,418 
 Other operating                                                            
  expenses                    701           864         2,536         2,373 
 Depreciation of                                                            
  property and                                                              
  equipment                    62           105           213           295 
 Amortization of                                                            
  intangible assets           285           491           839         1,492 
 Restructuring costs            -             -             -            50 
 ---------------------------------------------------------------------------
                            4,224         4,333        13,860        13,719 
----------------------------------------------------------------------------
                                                                            
Loss from operations         (716)       (1,210)       (2,930)       (4,402)
                                                                            
Finance income               (220)         (491)          (54)         (991)
Finance cost                   10             7            63            10 
----------------------------------------------------------------------------
                                                                            
Loss before income                                                          
 taxes                       (506)         (726)       (2,939)       (3,421)
                                                                            
Income tax expense                                                          
 (recovery):                                                                
 Current                       70             -            18             - 
 Deferred                     (54)         (130)         (163)         (390)
----------------------------------------------------------------------------
                                                                            
Loss for the period                                                         
 from continuing                                                            
 operations                  (522)         (596)       (2,794)       (3,031)
                                                                            
Discontinued                                                                
 Operations:                                                                
Income (loss) for                                                           
 the period from                                                            
 discontinued                                                               
  operations, net of                                                        
  tax of nil                    -         1,642         4,076        (1,548)
----------------------------------------------------------------------------
                                                                            
                                                                            
Income (loss) for                                                           
 the period                  (522)        1,046         1,282        (4,579)
                                                                            
Other comprehensive                                                         
 income (loss):                                                             
 Net change in fair                                                         
  value of                                                                  
 available-for-sale                                                         
  financial assets              -           (21)            -           761 
 Amount reclassified                                                        
  to income                     -          (187)            -          (753)
 Foreign currency                                                           
  translation                                                               
  adjustments to                                                            
   equity                    (327)          657           886           296 
 ---------------------------------------------------------------------------
 Other comprehensive                                                        
  income (loss)                                                             
 for the period, net                                                        
  of tax                     (327)          449           886           304 
                                                                            
----------------------------------------------------------------------------
                                                                            
Total comprehensive                                                         
 income (loss) for                                                          
 the period            $     (849)   $    1,495    $    2,168    $   (4,275)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Income (loss) per                                                           
 share:                                                                     
 Basic                 $     0.00    $     0.01    $     0.01    $    (0.03)
 Diluted                     0.00          0.01          0.01         (0.03)
                                                                            
Loss per share from                                                         
 continuing                                                                 
 operations:                                                                
 Basic                       0.00          0.00         (0.02)        (0.02)
 Diluted                     0.00          0.00         (0.02)        (0.02)
                                                                            
----------------------------------------------------------------------------


                                                                            
                                                                            
                                                                            
Cyberplex Inc.                                                              
Unaudited Interim Condensed Consolidated Statements of Cash Flows           
(In thousands of Canadian dollars)                                          
Nine months ended September 30, 2012 and 2011                               
                                                                            
                                                                            
----------------------------------------------------------------------------
                                                         2012          2011 
----------------------------------------------------------------------------
                                                                            
Cash flows from operating activities:                                       
    Income (loss) for the periods                  $    1,282    $   (4,579)
    Adjustments to reconcile net loss to net                                
     cash flows                                                             
    from operating activities:                                              
          Depreciation of property and equipment          481         1,041 
          Amortization of intangible assets             3,012         6,564 
          Amortization of deferred lease                                    
           inducements                                    (56)          (87)
          Share-based payments                             39           276 
          Foreign exchange loss                            83            30 
          Finance cost, net                               496          (939)
          Deferred income tax recovery                   (164)         (390)
          Gain on sale of Tsavo                        (6,349)            - 
          Restructuring costs                             221           263 
    Change in non-cash operating working capital       (3,540)          986 
    ------------------------------------------------------------------------
    Cash generated from operating activities           (4,495)        3,165 
    Income taxes received (paid)                          (57)          389 
    ------------------------------------------------------------------------
    Net cash from (used in) operating activities       (4,552)        3,554 
                                                                            
Cash flows from financing activities:                                       
    Finance lease                                         264           200 
    Repurchase of common shares under NCIB (note                            
     11(a))                                               (29)            - 
    Repayment of promissory note                         (100)            - 
    Repayment of term loans                                 -        (5,749)
    Repayment of finance lease                            (53)          (18)
    Interest paid                                        (272)       (3,155)
    ------------------------------------------------------------------------
    Net cash used in financing activities                (190)       (8,722)
                                                                            
Cash flows from investing activities:                                       
    Purchase of Long-term investment                      (50)            - 
    Sale of short-term investments                          -         1,546 
    Interest income received                               34            30 
    Net proceeds from sale of available-for-sale                            
     investments                                          300           401 
    Acquisition of EQADS, net of cash acquired              -          (100)
    Decrease in restricted cash and short-term                              
     investments                                          201           734 
    Proceeds on sale of Tsavo, net of cash                                  
     disposed of                                        6,293             - 
    Additions to property and equipment                  (492)         (341)
    Additions to intangible assets                       (153)          (21)
    ------------------------------------------------------------------------
    Net cash from investing activities                  6,133         2,249 
                                                                            
Foreign exchange gain on cash held in foreign                               
 currency                                                 (83)          (30)
----------------------------------------------------------------------------
                                                                            
Increase in cash and cash equivalents                   1,308        (2,949)
                                                                            
Cash and cash equivalents, beginning of period          4,050         5,192 
                                                                            
----------------------------------------------------------------------------
Cash and cash equivalents, end of period           $    5,358    $    2,243 
----------------------------------------------------------------------------
----------------------------------------------------------------------------

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
StackIQ has announced the release of Stacki 3.2. Stacki is an easy-to-use Linux server provisioning tool. Stacki 3.2 delivers new capabilities that simplify the automation and integration of site-specific requirements. StackIQ is the commercial entity behind this open source bare metal provisioning tool. Since the release of Stacki in June of 2015, the Stacki core team has been focused on making the Community Edition meet the needs of members of the community, adding features and value, while ...
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
ReadyTalk has expanded the capabilities of the FoxDen collaboration platform announced late last year to include FoxDen Connect, an in-room video collaboration experience that launches with a single touch. With FoxDen Connect, users can now not only engage in HD video conferencing between iOS and Android mobile devices or Chrome browsers, but also set up in-person meeting rooms for video interactions. A host’s mobile device automatically recognizes the presence of a meeting room via beacon tech...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Deploying applications in hybrid cloud environments is hard work. Your team spends most of the time maintaining your infrastructure, configuring dev/test and production environments, and deploying applications across environments – which can be both time consuming and error prone. But what if you could automate provisioning and deployment to deliver error free environments faster? What could you do with your free time?
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Choosing the right cloud for your workloads is a balancing act that can cost your organization time, money and aggravation - unless you get it right the first time. Economics, speed, performance, accessibility, administrative needs and security all play a vital role in dictating your approach to the cloud. Without knowing the right questions to ask, you could wind up paying for capacity you'll never need or underestimating the resources required to run your applications.
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
On Dice.com, the number of job postings asking for skill in Amazon Web Services increased 76 percent between June 2015 and June 2016. Salesforce.com saw its own skill mentions increase 37 percent, while DevOps and Cloud rose 35 percent and 28 percent, respectively. Even as they expand their presence in the cloud, companies are also looking for tech professionals who can manage projects, crunch data, and figure out how to make systems run more autonomously. Mentions of ‘data science’ as a skill ...