Cordia Announces Financial Results for Third Quarter 2007.Reports Increased Revenues of 20% from Second Quarter 2007 and Reduction in Operating Loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of approximately $700,000 WINTER GARDEN, Fla. -- Cordia Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CORG CORG Combat Operations Research Group ), a global communications service provider A Communications Service Provider or CSP is a company that transports information electronically. The term encompasses public and private companies in the wireline, wireless, Internet, cable, satellite, and managed services businesses. of traditional CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) and Voice over Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. ("VOIP (Voice Over IP) A digital telephone service that uses the public Internet as well as private backbones instead of the traditional telephone network. Many companies, including Vonage, 8x8 and AT&T (CallVantage), typically offer calling within the country for a ") technologies announced the results of operations for the third quarter ended September 30, 2007. The Company reported revenues of approximately $11.9 million for the quarter ended September 30, 2007, representing an increase of approximately $2 million from the previous quarter ended June 30, 2007, and an increase of approximately $3.4 million for the same period ended September 30, 2006. CORG reported a net loss of approximately $(304,000) or ($0.05) per basic and fully diluted share for the three-month period ended September 30, 2007, compared to a net loss of approximately $(1,032,000) in the previous quarter, and to net loss of approximately $(932,000) or $(0.17) per basic and fully diluted share for the same period ended September 30, 2006. Joel Dupre, Chief Executive Officer of Cordia Corporation stated, "We're pleased with the progress we've made towards our goal of profitability. We have reduced our operating loss by approximately $700,000 from the previous quarter, and we continue to maintain our cost management programs to eliminate these losses completely." Mr. Dupre further stated, "Our VoIP and International businesses are growing with an increase of approximately 70% quarter over quarter and we expect this trend to continue in the 4th quarter. While the outlook for the company is turning positive, we believe the stock price has not been a reflection of our progress. Therefore, we have engaged the services of Source Capital Group, Inc. to offer advice with regard to strategic alternatives in an effort to enhance the value of the Company for the benefit of the shareholders." Kevin Griffo, President of Cordia Corporation stated, "We closed our acquisition of Midwest Marketing Group in August and the integration of that entity and its subsidiary, Northstar Telecom, Inc., into our existing businesses is going very smoothly. The synergies achieved in this transaction have had a positive impact on our results and we will continue to look for similar type transactions in the future." Mr. Griffo further stated, "With our call centers in the Philippines and Nebraska, we are now benefiting from a lower cost per sale as we anticipated, and will look to further reduce costs in other areas. We will continue to focus on the growth of our CLEC unit by promoting our different brands and look forward to further sales expansion into the small business market and other markets with beneficial margins in the future." Conference Call Reminder A conference call to discuss our third quarter 2007 results will take place at 4:30 p.m. Eastern, on Thursday, November 15, 2007. Anyone interested in participating should call 1-800-430-2053 if calling within the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. or 1-973-935-8769 if calling internationally approximately 5 to 10 minutes prior to 4:30 p.m. The pass code for entrance into the conference is 9447905. There will be a playback available until November 29, 2007. To listen to the playback, please call 877-519-4471 if calling within the United States or 973-341-3080 if calling internationally. The pass code for the replay is 9447905. This call is being webcast by ViaVid Broadcasting and can be accessed at ViaVid's website at www.viavid.net. The webcast can be accessed through February 15, 2008. To access the webcast, you will need to have the Windows Media Player Digital jukebox software for Windows from Microsoft that plays a variety of audio, video and streaming formats including MP3, WMA, CD audio and MIDI. Starting with Version 6.2 in 1999, the Windows Media Rights Manager was added for securing copyrighted content. on your desktop. For the free download of the Media Player, please visit: www.microsoft.com/windows/windowsmedia/en/download/default.asp. About Cordia Corporation Cordia Corporation, through its operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Cordia Communications Corp., CordiaIP Corp., My Tel Co, Inc., Northstar Telecom, Inc., and Cordia International Corp. offers business, residential, and wholesale customers local and long distance telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. in more than sixty (60) countries utilizing traditional wireline and Voice over Internet Protocol ("VoIP") technologies. In addition, Cordia develops and provides a suite of proprietary web-based billing software and outsourced services to local, long distance and VoIP telecommunications providers. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Cordia's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, availability of management; availability, terms, and deployment of capital; Cordia's ability to successfully market its services to current and new customers, generate customer demand for its product and services in the geographical areas in which Cordia can operate, access new markets, all in a timely manner, at reasonable cost and on satisfactory terms and conditions, as well as regulatory, legislative and judicial developments that could cause actual results to vary in such forward-looking statements. [TABLE OMITTED] [TABLE OMITTED] |
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