Welcome!

.NET Authors: Pat Romanski, Srinivasan Sundara Rajan, Jayaram Krishnaswamy, Elizabeth White, Nitin Bandugula

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
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP and chief architect at BSQUARE Corporation; Seth Proctor, CTO of NuoDB, Inc.; and Andris Gailitis, C...
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. He discussed opportunities and challenges ahead for the IoT from a market and technical point of vie...
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...
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science from the University of California, Berkeley.
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness, and in-car entertainment and this excitement will bleed into other areas. On the commercial side, m...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
The 3rd International Internet of @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 its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the technology industry and how do they see opportunities for other women in their area of expertise.
DevOps Summit 2015 New York, 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 widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
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 Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!