Uniserve Third Quarter Results For Period Ending Feb 28

Uniserve Communications Corporation (TSX:USS.V), one of Canada’s premier providers of technology solutions in voide, data and media services announced their third quarter 2018 fiscal results.

The company said that the Q3 revenues increased by 36 per cent as compared to Q2 revenues with 2018 year to date revenue up 33 per cent from same quarter last year.

As quoted in the press release:

The Company finished the third quarter with:

• Consolidated Gross Revenues for nine months year-to-date of $7.189M CAD vs $5.64M CAD or a 27% increase over same period last year.
• Q3 gross margin increased $797K (89%) from Q2, with an increase of $808,974 from the same period in 2017. Gross margins as a percentage of sales equaled 58% in the current quarter vs 42% last quarter and 40% from the same quarter in 2017.
• Consolidated overhead costs were $1,626K for Q3 of 2018 (2018 Q2 – $1,364K, 2017 Q3 – $588K). The increase in costs was associated with increased travel costs, an increase in staff to support increasing revenue and for payroll costs associated with termination of staff after integrating new acquisitions.
• Q3 2018, EBITDA loss of $105K CAD, vs Q2 2018 loss of $644K CAD, this loss was primarily due to the increase in salary and operational costs.

Key highlights in third fiscal quarter of 2018:

• Q3 saw Uniserve shift from integration of two newly acquired businesses to lead generation and sales.

• New Director of Sales and Channels hired and has started to build out the sales, product management team and account management team to support new combined client class.

• The indirect sales channels progressed well with a consolidation of the previous partners into two groups, the larger and more tech savvy being offered storage and security solutions.

• The company continues to win cryptocurrency opportunities from around the world, with a clear strategy of co-locating these servers (rigs) in third party facilities, keeping the Vancouver data center primarily for Enterprise clients.

• Uniserve’s social media and general marketing efforts are now far more quantifiable, helping make lead generation increases directly reflect returns on investment.

• Overall sales pipelines appear buoyant and churn in Residential and Enterprise segments is significantly below industry accepted norms.

• Senior Management is pleased with how smoothly the integration of recent acquisitions has progressed.

• New coax cable connectivity offering is now complete throughout Alberta with significant increases in new clients.

• Smart City practices was launched servicing cities in the Lower Mainland.

• With the significant new Glenbriar Managed Services client increase, the Company has ramped up customer service and tier 1 & 2 support teams, doubling the size of its telesales and field sales team in both BC and Alberta.

Click here for the full text release.