|By Marketwired .||
|September 2, 2014 04:46 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 09/02/14 -- DealNet Capital Corp. ("DealNet" or the "Company") (CSE: DLS)(PINKSHEETS: GAIMF) is pleased to report financial and operating results for the three and six months ended June 30, 2014. The Company's unaudited consolidated interim financial statements and related management's discussion and analysis for the three and six months ended June 30, 2014 have been filed and are available on SEDAR at www.sedar.com.
"We are very pleased with the period over period revenue progression relating to the significant growth in OCCGI, our division servicing the North American outsourcing industry," stated Bob Cariglia, President and CEO of DealNet Capital. "With the acquisition of Impact Mobile and the continued growth of our consumer finance division, we expect continual improvement to our financial results over the second half of fiscal 2014," he added.
Revenues from operations during the three month period ended June 30, 2014 were $1,527,000 compared to $851,000 for the three month period ended June 30, 2013. The Company's business process outsourcing division, OC Communications Group Inc. ("OCCGI"), contributed $409,000 in gross profit for the three months ended June 30, 2014 compared to $253,000 in gross profit for the three months ended June 30, 2013.
Revenues from operations during the six month period ended June 30, 2014 were $3,849,000 compared to $1,481,000 for the six month period ended June 30, 2013. OCCGI contributed $1,625,000 in gross profit for the six months ended June 30, 2014 compared to $507,000 in gross profit for the six months ended June 30, 2013. These results reflect a 160% increase in revenue and a 221% increase in gross profit for the June 30, 2014 period over period results of operation. Selling and administrative expenses increased by 6% when comparing the June 30, 2014, period over period results.
About DealNet Capital Corp.
DealNet Capital Corp. is a public company that trades under the symbol DLS on the Canadian Securities Exchange. DealNet Capital has an investment mandate to acquire and develop investee companies focused on generating high margin recurring revenue through innovative customer engagement models. The Company has focused its investments towards two key industry verticals: the thriving North American business process outsourcing ("BPO") market through its wholly-owned subsidiaries, OC Communications Group Inc. ("OCCGI") and Impact Mobile Inc. ("Impact Mobile"); and the consumer financing market through its wholly-owned subsidiary, One Dealer Inc. ("One Dealer").
ON BEHALF OF DEALNET CAPITAL CORP.
For additional information please visit www.sedar.com.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements with respect to the Corporation. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. These statements involve risks and uncertainties including, without limitation, DealNet Capital's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
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