Phonetime Inc.: Financial Results for the Six Months of 2012
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 07/24/12 -- Phonetime Inc. (TSX: PHD) announced today the financial results for the first six months of 2012. Net income was $0.6 Million compared to $1.5 Million in 2011. EBITDA(1) was $1.3 Million compared to $0.3 Million for the same period in 2011. Net Income in 2012 included a $0.3 Million one-time non-cash gain on retirement of debt, while net income in 2011 included a one-time non-cash gain on retirement of derivative warrants of $2.0 Million.
Revenue in the first six months of 2012 was $48 million compared to $60 Million in 2011. The decrease in revenue is primarily a result of continued price decreases in the markets in which the Company operates; this is part of the ongoing trend in international long distance rate declines that has existed for a number of years. In 2011, Pakistan, India and Mexico experienced the most significant prices decreases.
At June 30, 2012, the Company had a cash balance of $0.5 million, no debt and $2.5 million of available borrowings under its senior lending facility. Shareholder's equity was $9.7 million, compared to $9.1 million at December 31, 2011.
Outlook for 2012
"We are executing on our business plan, and we remain profitable. We are pleased that we have been able to retire all of the Company's debt and put in place a new bank operating facility," said Gary Clifford, Executive Chairman.
The Company's annual audited consolidated financial statements and unaudited interim financial statements have been filed on SEDAR.
About Phonetime Inc.
Established in 1994, Phonetime is a leading provider of international and domestic switched voice services to the world's telecommunication operators and voice service providers. Phonetime's customers and suppliers include, fixed line operators, mobile operators, retail and VoIP service providers, who buy and sell voice and IP telecommunications services. Phonetime has traders in Europe, Asia and the Americas using its proprietary trading platform with embedded intelligence, which includes profitability benchmarking, call routing, credit management, network quality visibility and loss prevention. As voice technology evolves Phonetime has commoditized its trading philosophy and along with its platform is positioned to emerge as a leading clearing house. Phonetime is a public company listed on the Toronto Stock Exchange (TSX).
Caution Regarding Forward Looking Information:
This press release contains forward-looking statements, which may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. These statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. Phonetime's actual results could differ materially from those currently anticipated due to a number of factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time. See which contains all securities files.
(1) EBITDA is non-GAAP financial measure. It is defined as income from continuing operations excluding depreciation and amortization expense, stock based compensation, interest expense, gain on retirement of debt and mark to fair value of common stock warrants.
Contacts:
Phonetime Inc.
Gary Clifford
Executive Chairman
+416-418-9802
Phonetime Inc.
Michael Vazquez
President and COO
+954-608-5058
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Datum: 24.07.2012 - 07:15 Uhr
Sprache: Deutsch
News-ID 1135874
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