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Technology Stocks : Q/Media Software Corp (QMS.T) -- Ignore unavailable to you. Want to Upgrade?

To: Marc who wrote (482)	6/18/1999 12:04:00 PM
From: Marc	Read Replies (1) \| Respond to of 568

Q-Media Service Corp.'s results for the third quarter ended April 30, 1999, included revenue growth of 98 per cent and an earnings before interest, taxes, depreciation and amortization increase of 28 per cent. The company also announced its inclusion in Profit magazine's list of Canada's fastest growing companies, with a five-year growth rate of 2,605 per cent. Third Quarter Highlights Revenues were $23.5-million, compared with $11.9-million, an increase of 98 per cent. Earnings before interest, taxes, depreciation and amortization were $2.0-million, compared with $1.6-million, an increase of 28 per cent. Net earnings were $800,000, compared with $900,000. Net earnings per share were eight cents basic and five cents fully diluted, compared with nine cents basic and five cents fully diluted. Nine Months Highlights Revenues were $77.8-million, compared with $31.1-million, an increase of 151 per cent. Earnings before interest, taxes, depreciation and amortization were $7.8-million, compared with $3.7-million, an increase of 114 per cent. Net earnings were $3.8-million, compared with a net loss of $5.8-million. Net earnings per share were 36 cents basic and 22 cents fully diluted, compared with a net loss per share of 66 cents basic and fully diluted. Robert M. Lawrie, president, said that after two exceptional quarters at the beginning of fiscal 1999, the company's third quarter revenues returned to budgeted levels, as anticipated. Year-to-date results are well ahead of the previous year, with strong revenue growth of 151 per cent and a corresponding increase in profitability, with EBITDA growth of 114 per cent. He said that the reduced net earnings for the third quarter reflect the integration of Q-Media's most recently added operation in Irvine, Calif. Mr. Lawrie added that this division is making progress with its new information system and has now launched and commenced customer trials with its new Internet-based fulfilment system. During the fourth quarter, Q-Media will move its Vancouver operation to a new facility and add CD-ROM manufacturing to that location, raising the company's annual CD-ROM manufacturing capacity to more than 30 million CD-ROMs from 27 million. As was the case for the company's three other CD-ROM facilities, the addition in Vancouver is being driven by customer demand for this service. Mr. Lawrie said that he was pleased with the company's high ranking in Profit magazine's recent survey of the fastest growing companies in Canada. Q-Media's five-year growth rate of 2,605 per cent placed it as the 33rd fastest growing company in Canada and sixth in the province of British Columbia. Mr. Lawrie remarked he is particularly gratified that at the current year's run rate, Q-Media would rank 10th in Canada and second in British Columbia. The outlook is for record revenues and earnings for fiscal 1999.