Welcome!

.NET Authors: Trevor Parsons, Peter Silva, Yeshim Deniz, Pat Romanski, Adine Deford

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.

@ThingsExpo Stories
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Focused on this fast-growing market’s needs, Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of IC solutions to advance "Ethernet Everywhere" in Carrier, Enterprise and Internet of Things (IoT) networks, introduced its IStaX™ software (VSC6815SDK), a robust protocol stack to simplify deployment and management of Industrial-IoT network applications such as Industrial Ethernet switching, surveillance, video distribution, LCD signage, intelligent sensors, and metering equipment. Leveraging technologies proven in the Carrier and Enterprise markets, IStaX is designed to work ac...
C-Labs LLC, a leading provider of remote and mobile access for the Internet of Things (IoT), announced the appointment of John Traynor to the position of chief operating officer. Previously a strategic advisor to the firm, Mr. Traynor will now oversee sales, marketing, finance, and operations. Mr. Traynor is based out of the C-Labs office in Redmond, Washington. He reports to Chris Muench, Chief Executive Officer. Mr. Traynor brings valuable business leadership and technology industry expertise to C-Labs. With over 30 years' experience in the high-tech sector, John Traynor has held numerous...
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
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.
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world. The next @ThingsExpo will take place November 4-6, 2014, at the Santa Clara Convention Center, in Santa Clara, California. Since its launch in 2008, Cloud Expo TV commercials have been aired and CNBC, Fox News Network, and Bloomberg TV. Please enjoy our 2014 commercial.