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iWeb Announces its Second Quarter Results

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^{Published in Science and Technology on Wednesday, May 19th 2010 at 15:55 GMT by Market Wire}  

 Financial Highlights: --------------------- - Revenues reached $7.4 M, a 7% year-over-year increase (a 22% increase at constant exchange rate) - Adjusted EBITDA of $2.1 M, representing 28.3% of revenue - Net profit jumped to $389,000, compared to the $246,000 loss reported a year ago - Operating profit nearly doubled, from $120,000 in 2009, to $234,000 for the same quarter of 2010 - Operating cash flow of $1.5 M 

 Financial Review: second quarter of 2010 ---------------------------------------- 

 Key Financial Data (in thousands of dollars, except per share amounts) ---------------------------------------------------------------------- Second quarter ended March 31 2010 2009 Revenues $7,419 $6,933 Operating Profit $234 $120 Net Earnings (loss) $389 $(246) Earnings (loss) per share - basic $0.0138 $(0.0088) Adjusted EBITDA(1) $2,100 $1,855 Adjusted EBITDA /revenue 28.3% 26.8% Cash flow from operations $1,520 $1,339 As at As at March 31, September 30, 2010 2009 Total assets $36,898 $32,990 Long term debt, including derivatives $19,990 $17,524 Shareholder's equity $7,116 $6,365 Cash and term deposits $4,441 $2,215 1- The Company defines Adjusted EBITDA as Earnings before interest expenses, income taxes, depreciation and amortization, stock-based compensation, unrealized exchange gain/loss and straight-line amortization of rental expense. 

 About iWeb Group Inc. (iWeb.com) --------------------------------