dba Telecom Announces Third Quarter Results
dba Telecom Corporation
News Release
For Immediate Release
Trading Symbol: DBA
Canadian Venture Exchange
dba Telecom Announces Third Quarter Financial Results
November 29, 2000; North Vancouver, Canada - dba Telecom Corporation announced its financial results for the third quarter ending September 30, 2000. Total revenues for the third quarter were $1,239,909 million, as compared with $510,790 for the previous quarter, a 142% increase.
Operating expenses continue to be reduced as dba maintains its focus on managing costs in an increasingly competitive environment. For the third quarter of 2000, expenses were $1,030,872 compared to $1,213,947 for the previous quarter, a cost reduction of 15%. The net loss for the quarter was $735,906 ($0.02 per common share), compared to a net loss of $857,725 ($0.04 per common share) in the same period in 1999. The net loss for the nine month period in 2000 was $2,742,439 ($0.06 per common share), compared to the same period in 1999 when the net loss was $1,700,503 ($0.08 per common share).
“The third quarter marks the commencement of dba’s transformation from a telecommunications equipment company into a leading telephony solutions provider; this will be accomplished through corporate alliances and development partnerships,” said Garry Hines, dba’s President and CEO. “The Company recently repositioned its Asia Pacific division, which will result in cost savings and better position us towards achieving our goal of becoming highly competitive in the telecom market. Initial customer reaction to our corporate strategy has been positive.”
Known internationally as “The SmarTalk Company”, dba Telecom provides a unique range of intelligent network handsets for use in a variety of applications in the Centrex, Computer Telephony and Communication Server markets. dba Telecom has sales and support offices in Canada and the U.S. with engineering, marketing and administration located in Vancouver. The Company’s shares are traded on the Canadian Venture Exchange under the symbol DBA.
The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.
Contact:
dba Telecom Corporation
1225 E. Keith Road, Unit 1
North Vancouver, BC, Canada V7J 1J3
Tel: (604) 903-3900; 1(800) 663-4476
Fax: (604) 985-4128
invest@dbatele.com
www.dbatele.com
The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management’s estimates, assumptions, and projections using available information. The Company cautions that actual financial results could differ materially from the current expectations for a number of factors. |
