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iWeb reports 2010 third quarter results

^{Published on 2010-08-24 15:15:34 - Market Wire}
 

 - Revenues increased to $7.5M, from $7.2M in Q3 2009 - $2M Adjusted EBITDA, or 27% of revenue - Operating loss of $152,000, down from an operating profit of $261,000 one year prior - Net loss of $645,000, compared to net earnings of $1M in Q3-2009, due mostly to exchange rate variations on long-term debt in USD 

 Key Financial Data (in thousands, except "per share" amounts) ------------------------------------------------------------- Third Quarter ended June 30, 2010 Q3 - 2010 Q3 - 2009 Revenues $7,494 $7,179 Operating Profit (Loss) $(152) $261 Net Earnings (Loss) $(645) $1,023 Earnings (Loss) per share - basic $(0.0229) $0.0366 Adjusted EBITDA(1) $2,043 $1,629 Adjusted EBITDA / Revenues 27.3% 22.7% Cash flows from operations $263 $2,066 As at As at June 30, September 30, 2010 2009 Total Assets $38,854 $32,990 Long-term debt, including derivatives $20,775 $17,524 Shareholders' equity $6,637 $6,365 Cash and cash equivalent and term deposits $1,609 $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, loss on write-off of assets and straight-line amortization of rental expense. Third Quarter 2010 Financial Review: ------------------------------------