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Cordia Corporation Announces Financial Results for Fiscal Year 2006.


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 wireline 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") technologies announced the results of operations for the fiscal year ended December 31, 2006.

The Company reported revenues of approximately $37.5 million for the twelve months ended December 31, 2006; a decrease of approximately $4.4 million from the approximately $41.9 million in reported revenues for the same period last year.

CORG reported an 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 $2.9 million 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
 for the year ended December 31, 2006, as compared to operating income Operating Income

The profit realized from a business' own operations.

Notes:
This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit.
 of approximately $1.1 million at December 31, 2005. The net loss for the year ended December 31, 2006 was approximately $3.1 million or ($0.55) per basic and fully diluted share, compared to net income of approximately $1.1 million or $0.23 per basic share and $0.20 per fully diluted share for the same period last year.

Joel Dupre, Chief Executive Officer of Cordia Corporation, stated, "Although we reported a net loss for the year, 2006 was a significant year of investment in Cordia's future. We established a presence in the Asia Pacific region through our acquisition of Triamis and the opening of our Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov.  office, and we expanded into South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere.  with our investment in Canal West, a Brazilian VoIP provider. We believe these investments will be significant for future revenue growth derived from our VoIP and Magellan products."

Mr. Dupre continued, "In addition, we have invested in the development of our global VoIP network which supports our Magellan product line. With Magellan, customers get their own personal international phone number which is routed through our VoIP network, to their mobile or landline phone allowing the customer to be contacted anywhere in the world at local rates. While this significant undertaking affected our financial results, it was necessary for the global launch of these services and to position Cordia for future growth and profitability."

Kevin Griffo, President of Cordia Corporation, stated, "Despite our loss for the fourth quarter and year end we have made significant operational progress during 2006. Our investment in sales and marketing expenditures resulted in increased revenues of approximately $9.7 million for the fourth quarter as compared to approximately $8.5 million reported in Q3. In addition, our bad debt and churn have been reduced from 2005, creating a more stable customer base for Cordia. The tools put in place to achieve this reduction have also allowed us to expand into the secondary credit market under our My Tel brand. Additionally, we have expanded our wire line services adding six new territories and we have extended our operating agreement An operating agreement is an agreement among limited liability company ("LLC") members governing the LLC's business, and Member's financial and management rights and duties. No state requires an LLC to have an Operating agreement.  with one of our underlying network providers through 2012."

Mr. Griffo continued, "A key focus for this year will be the successful launch of our call center in Cebu, Philippines during the second quarter of 2007, with the goal of further reducing our operating costs operating costs nplgastos mpl operacionales . We estimate that we can save approximately 50% on our costs of acquiring new customers, as well as other services, through this new call center. We believe that the call center is a key component of our plan to return Cordia to profitability."

Conference Call Reminder

A conference call to discuss our fiscal year 2006 results will take place at 10:00 a.m. Eastern, on Friday, March 30, 2007. Anyone interested in participating should call 800-936-9754 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 973-935-2048 if calling internationally approximately 5 to 10 minutes prior to 10:00 a.m. pass code for entrance into the conference is 8634450. There will be a playback available until April 13, 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 8634450.

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 June 30, 2007. 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, Cordia Communications Corp., CordiaIP Corp., My Tel Co, Inc. and Cordia International Corp. offers business, residential, and wholesale customers local and long distance telecommunications services 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 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.
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Publication:Business Wire
Article Type:Financial report
Date:Mar 29, 2007
Words:889
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