BRANCHEZ-VOUS! Discloses its Results for the Third Quarter Ended September 30, 2004.MONTREAL Montreal (mŏn'trēôl`), Fr. Montréal (môNrāäl`), city (1991 pop. 1,017,666), S Que., Canada, on Montreal island, surrounded by St. Lawrence River and Rivière des Prairies. -- BRANCHEZ-VOUS! inc. (TSX-V:BZV BZV Brazzaville (Republic of Congo) ) - The quarter ended September September: see month. 30, 2004 showed strong results for BRANCHEZ-VOUS! inc., due to a general increase in advertising sales. Compared to Q3 2003, sales increased by 56 % and gross margin increased by 64 %. Because of a non-recurring charge of $ 50,000 for corporate fees related to a projected reorganization, net income increased by only 39 %. Earnings per share remained nil. These results helped the corporation strengthen its balance sheet. As at September 30, 2004, shareholder's equity grew to $ 650,000 - 42 % of which related to the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. investment of $ 274,000 held by the corporation in Passeport Media International ("PMI See Private Mortgage Insurance. "), a Montreal-based media company offering electronic advertising in airports. For the third quarter 2004, BRANCHEZ-VOUS! had revenues of $ 420,000, compared to revenues of $ 270,000 for Q3 2003. This increase of $ 150,000 or 56 % is due to increased advertising sales. On a sequential basis, compared to revenues of $ 490,000 in Q2 2004, revenues decreased by $ 70,000 or 14 %, due to softer advertising sales than in the previous quarter. For the first nine months of 2004, BRANCHEZ-VOUS! had revenues of $ 1,217,000, an increase of $ 325,000 or 36 % compared to revenues of $ 892,000 for the first nine months of 2003. This increase is due to increased advertising sales. On a quarterly basis, Income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the increased by $ 28 000 or 43 %, from 47,000 $ in Q3 2003 to $ 75,000 in Q3 2004. This is mostly due to increased advertising sales. As a percentage of sales, income from operations remained stable, from 17% in Q3 2003 to 18% in Q3 2004. On a sequential basis, Income from continuing operations decreased by $ 86,000 or 43 %, compared to $ 161 000 in Q2 2004. This is mostly due to lower advertising sales than in the previous quarter. For the nine-month period, Income from operations increased by $ 140,000 or 109 %, from $ 128,000 for the first nine months of 2003 to $ 268,000 for the first nine months of 2004. This is mostly due to increased advertising sales. On April 1st, 2004, the Corporation entered into the final phase of a projected corporate reorganization initiated in 2002. In Q3 2004, $50,000 was registered as non recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. extraordinary expenses, including provisions, for non-recurring fees to accountants, legal advisers, sponsor and securities commissions related to this projected reorganization. Corporate fees related to a projected reorganization registered as non recurring extraordinary expenses were $ 24,000 in Q3, 2003, $ 80,000 in Q2, 2003, $130,000 of the first nine months of 2004 and $ 24,000 for the first nine-months of 2003. Management expects additional such fees to be incurred in Q4, 2004, if the corporate reorganization project is continued. In Q3 2004, the net income increased by $ 7,000 or 39 %, from $ 18,000 for Q3 2003 to $ 25,000 in Q3 2004. As a percentage of sales, net income remained stable, from 7% in Q3 2003 to 6% in Q3 2004. On a sequential basis, the net income increased by $ 26,000 or 51 %, compared to $ 51,000 in Q2 2004. This is mostly due to a decrease in sales. For the nine-month period, the net income increased by $ 22,000 or 23 %, from $ 96,000 in the first nine months of 2003 to $ 118,000 in the first nine months of 2004. This is mostly due to an increase in sales, partly offset by the registration of corporate fees for the projected corporate reorganization. On a per share basis, the earnings per share was essentially nil in Q3 2004, in Q3 2003, in Q2 2004, in the first nine months of 2003 and in the first nine months of 2004. As at September 30, 2004, the Corporation had 28,935,117 issued and outstanding common shares. In 2002, the Corporation entered into a long-term corporate reorganization project, as detailed in the Financial statements, which would include the sale of its Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the operations to three founding shareholders and the acquisition for stock and cash of 100 % of PMI. Such acquisition would be considered as a Reverse take-over of the Corporation by PMI. Management is now planning to obtain the TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture Exchange's, regulatory and shareholders' approvals which are still required for these transactions before the end of the first quarter of 2005. About BRANCHEZ-VOUS! inc. BRANCHEZ-VOUS! is a leading Montreal-based new media company. It currently derives most of its revenues from advertising on proprietary web sites, including the BRANCHEZ-VOUS.com portal, and on third-party Web sites, including sites owned by Astral (language) Astral - A programming language based on Pascal, never implemented. ["ASTRAL: A Structured and Unified Approach to Database Design and Manipulation", T. Amble et al, in Proc of the Database Architecture Conf, Venice, June 1979]. Media. The company also owns 5,236 preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. (convertible into common shares representing 25% of the capital-stock) of Passeport Media International, a media company offering electronic advertising in airports. PMI currently operates electronic billboards within the Montreal-Trudeau International Airport and the Calgary International Airport Calgary International Airport, (IATA: YYC, ICAO: CYYC), is the main airport that serves Calgary, Alberta, Canada and the surrounding region; It is located 17 km from the downtown core. It is one of Canada's busiest airports by passenger traffic, serving 11. . Additional information on the Corporation can be obtained on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review (www.sedar.com). BRANCHEZ-VOUS! INC. (TSX VENTURE:BZV) |
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