Creative Vistas, Inc. Expects Over 25% Increase in Revenues and Over 50% Increase in EBITDA for Second Quarter 2007, Both New Records.WHITBY, Ontario Whitby (2006 population 111 184) is a town located east of Toronto on the north shore of Lake Ontario, and is the seat of Durham Region, Ontario, Canada. History -- Creative Vistas, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CVAS CVAS Controlled Vehicle Access System CVAS Configuration Verification Accounting System (NASA) ), a leading provider of advanced video security and surveillance solutions as well as broadband-related services, today announced its guidance on revenues and other financial results for the second quarter ending June 30, 2007. The Company announced it expects second-quarter 2007 revenues to range from $8.9 million to $9.2 million, up 25% to 28%, from revenues of $7.16 million reported in the second quarter of 2006. On a sequential basis, 2007 second-quarter revenues would be up 14% to18% from revenues of $7.8 million reported in the first quarter ended March 31, 2007. For the second quarter of 2007, the Company expects earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). reporting, for gauging the ongoing performance of its operating units. Sayan Navaratnam, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Creative Vistas, Inc., commented, "Today's guidance reflects the continued strong revenue and EBIDTA growth within the organization. We are continuously growing our business while consistently investing in strategic initiatives, including technologies, which will strengthen the long-term prospects of the Company. All of our current growth is organic and the growth in revenue is strongly complemented by a higher level of growth in EBIDTA. This is a testament to the strong management team that makes up our organization." The Company expects to show a net loss in the second quarter of approximately ($700,000), or ($0.02) per fully diluted share, compared to net income of $690,000, or ($0.01) per fully diluted share, in the second quarter of 2006. Quarterly net income figures and comparisons for 2007 and 2006 were affected by non-cash and non-operating factors. For the second quarter of 2007, the Company expects non-cash stock compensation, amortization and depreciation and a non-cash interest payment of approximately $950,000. In the second quarter of 2006, it reported non-cash stock compensation, amortization and depreciation of $455,000 along with derivative instrument Noun 1. derivative instrument - a financial instrument whose value is based on another security derivative legal document, legal instrument, official document, instrument - (law) a document that states some contractual relationship or grants some right income and translation adjustment income of $1,073,000. On a sequential basis, the expected net loss in the second quarter of 2007 is higher than the loss of ($532,000) reported for the first quarter of 2007, which was mainly due to an increase of approximately $200,000 in non-cash interest payments. For further information on Creative Vistas please visit www.creativevistasinc.com. If you would like to be added to Creative Vistas' investor email lists or have additional questions, please contact Haris Tajyar with Investor Relations Investor relations The process by which the corporation communicates with its investors. International at htajyar@irintl.com or info@creativevistasinc.com. About Creative Vistas Creative Vistas, Inc. is a leading provider of security-related technologies and systems, it also provisions the deployment of broadband services. Operating through its wholly-owned subsidiaries AC Technical Systems Ltd and Iview Digital Video Solutions Inc., it offers integrated electronic security and surveillance solutions. Its systems are used by numerous high-profile clients including government, school boards, retail outlets, banks and hospitals. Through its subsidiary Cancable Inc., the company also provisions the deployment and servicing of broadband technologies to the commercial and residential market. Creative Vistas is based in Ontario, Canada. Forward-Looking Statements: Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The Company's actual results could differ materially from expected results for reasons described from time to time in the Company's public filings. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events. |
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