Microsoft Cloud Authors: Jim Kaskade, Lori MacVittie, Andreas Grabner, Janakiram MSV, Pat Romanski

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
--  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)
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
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'                                               
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 
(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 
 Publishing and                                                             
  advertising costs         1,939         1,557         6,276         5,091 
  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                                                          
 Current                       70             -            18             - 
 Deferred                     (54)         (130)         (163)         (390)
Loss for the period                                                         
 from continuing                                                            
 operations                  (522)         (596)       (2,794)       (3,031)
Income (loss) for                                                           
 the period from                                                            
  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                                                                  
  financial assets              -           (21)            -           761 
 Amount reclassified                                                        
  to income                     -          (187)            -          (753)
 Foreign currency                                                           
  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                                                           
 Basic                 $     0.00    $     0.01    $     0.01    $    (0.03)
 Diluted                     0.00          0.01          0.01         (0.03)
Loss per share from                                                         
 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.

@ThingsExpo Stories
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue an...
SYS-CON Events announced today that Streamlyzer 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. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Donna Yasay, President of HomeGrid Forum, today discussed with a panel of technology peers how certification programs are at the forefront of interoperability, and the answer for vendors looking to keep up with today's growing industry for smart home innovation. "To ensure multi-vendor interoperability, accredited industry certification programs should be used for every product to provide credibility and quality assurance for retail and carrier based customers looking to add ever increasing num...
The Open Connectivity Foundation (OCF), sponsor of the IoTivity open source project, and AllSeen Alliance, which provides the AllJoyn® open source IoT framework, today announced that the two organizations’ boards have approved a merger under the OCF name and bylaws. This merger will advance interoperability between connected devices from both groups, enabling the full operating potential of IoT and representing a significant step towards a connected ecosystem.
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
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.
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...