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TelePlus Q3 Results - Turns a Profit From Operations; Sales Climb 104% to $6.81M; YTD Sales Now Reach $13.2M (62% Increase)16 November 2005
TelePlus Enterprises, Inc. (OTC BB: TLPE)
(Frankfurt: YT3) (http://www.teleplus.ca) is pleased to announce its
results for the 3rd quarter and YTD 2005.
TELECOM RESULTS - PULLS OVER $557,785 IN EARNINGS
Telecom sales for the 3rd quarter reached $3,704,267. Telecom EBITDA
(defined as earnings before depreciation, amortization, interest expenses
and taxes) was positive $597,642 and net profit (before corporate overhead)
was $557,785 (which is 15% of sales) as compared to no EBITDA and no net
earnings contribution for the same period a year ago. Total number of
subscriber lines at the end of the quarter reached 25,500. Telecom results
include full quarter of operations of Freedom Phone Lines, Avenue
Reconnect, Inc and Telizon, Inc.
WIRELESS RESULTS - IMPROVES OPERATIONAL EFFICIENCY
Wireless sales for the 3rd quarter reached $3,101,927 as compared to
$3,339,948 for the same period a year ago. The decrease in wireless sales
results from the recent consolidation in the number of TelePlus stores
which was done to increase operational efficiency of the retail division.
Wireless EBITDA was negative $173,058 and net loss (before corporate
overhead) was $270,380 as compared to a negative EBITDA of $165,434 and a
net loss of $222,986 for the same period a year ago. Total number of
wireless handset sales for the 3rd quarter reached 10,921 handsets, an
increase of 2.5%, compared to 10,652 handsets for the same period a year
ago. On the other side, same-store-count handset sales increased by 8.8%
for the quarter reflecting the increased efficiency generated through the
recent store count consolidation.
CONSOLIDATED RESULTS - EARNINGS (FROM OPERATIONS) REACH $287,058 FOR Q3
Sales for the 3rd quarter increased by $3,465,884 (or 104%) to $6,805,832
as compared to $3,339,948 for the same period a year ago. Gross profit
remained unchanged for the 3rd quarter at 29.6%. Removing Corporate
costs(1) which equaled $485,753 for the quarter the Company had a positive
EBITDA from Operations of $424,217 (including Corporate costs, EBITDA was
positive $83,877) and net profit from Operations of $287,058 (including
Corporate costs net loss was $198,695) for the 3rd quarter as compared to a
negative EBITDA of $162,434 and a net loss of $222,986 for the same period
a year ago.
Sales revenues for the year to date ended September 30th, 2005 increased by
$5,040,597 (or 62%) to $13,224,633 as compared to $8,184,034 for the same
period a year ago. Gross profit as a percentage of sales increased to 30.2%
versus 26.6% for the same period a year ago. The Company had a negative
EBITDA of $823,572 and net loss of $1,524,545 for the year to date, as
compared to a negative EBITDA of $684,523 and net loss of $836,472 for the
same period a year ago. The Company's EBITDA loss as a percentage of sales
decreased to 6.2% from 8.4% a year ago. The Company also generated $294,570
in positive Cash Flow from operating activities versus using $710,061 in
cash for the same period a year ago.
Q3 A TURNING POINT
"Third quarter results are a turning point for our company as we
successfully achieved a positive EBITDA for the company overall and
achieved positive earnings from operations for the first time in over two
years. It is important to note that all expenses not included in EBITDA
results (which equaled $282,572 for the third quarter) are all non-cash
items and do not affect or relate to our operations. In particular
amortization and interest expenses which equaled $143,227 for the third
quarter are related to the debt we raised to finance our acquisitions. As
we pay our debt off, these non-cash expenses will not reoccur and therefore
improve our results in future quarters," stated Robert Krebs, Company CFO.
"Another important indication of the strength of our operation is the
generation of positive cash flow from operations. On this I am pleased to
announce that we generated a positive cash flow from operations of over
$294,570 as of the third quarter of 2005 as compared to using $710,061 in
cash flow for the same period a year ago. This is the second quarter in a
row that we generate positive cash flow from operations," added Krebs.
For more Q3 analysis and description of the Company's business investors
may download the latest CEO letter from the following address:
http://www.teleplus.ca/download/CEO_news%20letter_Q3%2005.pdf
This press release is available on the TelePlus' Investor Relation's site
for investor questions, commentary and feedback. Investors are asked to
visit http://www.agoracom.com and select the TelePlus Investor Relations
HUB. Alternatively, investors can e-mail their questions or comments
directly to TLPE@agoracom.com or asked to be placed on the TelePlus
investor e-mail list to receive all future press releases directly.
(1) Corporate costs include certain executive compensation, lease cost for
the corporate office, corporate travel and entertainment, accounting,
certain legal and Investor Relations related costs.
About TelePlus http://www.teleplus.ca
TelePlus Enterprises, Inc. ("TelePlus") is a provider of Wireless and
Telecom products and services across North America. TelePlus Connect, Corp.
-- is a reseller of a variety of Telecom services including landline, long
distance and internet services. TelePlus Wireless, Corp. -- operates a
virtual wireless network selling cellular network access to distributors in
the United States. TelePlus Retail Services, Inc. -- owns and operates a
national chain of TelePlus branded stores in major shopping malls, selling
a comprehensive line of wireless and portable communication devices.
The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties, including but not limited to risks associated with the
uncertainty of future financial results, additional financing requirements,
development and acquisition of new product lines and services, government
approval processes, the impact of competitive products or pricing from
technological changes, the effect of economic conditions and other
uncertainties, and the risk factors set forth from time to time in the
Company's SEC reports, including but not limited to its annual report on
Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form
8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct
forward-looking statements.
CONTACT:
Institutional IR Inquiries
Investor Relations
514-344-0778 ext. 222
http://www.teleplus.ca
info@teleplus.ca
Retail IR Inquiries
AGORA Investor Relations
866-699-3388
http://www.agoracom.com
TLPE@agoracom.com
SOURCE: TelePlus Enterprises, Inc.
Source: Marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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