Printer Friendly
The Free Library
5,674,334 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

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.
:EBITDA = Operating Revenue – Operating Expenses + Other Revenue
 (EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) of approximately $650,000 (neutral of foreign exchange adjustments), up 51% from EBITDA of $430,000 (neutral of foreign exchange adjustments) in the second quarter of 2006. Excluding all non-cash expenses and neutral of foreign exchange adjustments, EBIDTA EBIDTA Earnings Before Interest Depreciation Taxes and Amortization  in the second quarter of 2007 is expected to reach $800,000, up 43% from $560,000 in the second quarter of 2006. As in prior quarters, the net income and EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format.  results are expected to be affected substantially by non-cash adjustments related to the Company's capital structure. These include quarterly revaluations of the Company's warrant liabilities,which change in value inversely to the price of its stock. For that reason, the Company believes EBITDA provides a useful tool, in conjunction with GAAP GAAP

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.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Article Type:Financial report
Date:Jul 26, 2007
Words:727
Previous Article:Golfsmith International Holdings, Inc. Announces Earnings Release Date and Webcast for Second Quarter 2007 Results.
Next Article:Autobytel to Report 2007 Second Quarter Financial Results and Host Conference Call on Wednesday, August 8, 2007.



Related Articles
In2Books: Epals.(New Products: THE LATEST OFFERINGS IN HARDWARE, SOFTWARE and THE INTERNET)
Telepresenter M3-Series 2: NCAST.(New Products: THE LATEST OFFERINGS IN HARDWARE, SOFTWARE and THE INTERNET)
Mimio Interactive: Mimio.(New Products: THE LATEST OFFERINGS IN HARDWARE, SOFTWARE and THE INTERNET)
mCLASS: Rtl: Wireless Generation.(New Products: THE LATEST OFFERINGS IN HARDWARE, SOFTWARE and THE INTERNET)
Callrex: Telrex.(New Products: THE LATEST OFFERINGS IN HARDWARE, SOFTWARE and THE INTERNET)
WorkStations: Proximity Systems.(New Products: THE LATEST OFFERINGS IN HARDWARE, SOFTWARE and THE INTERNET)
Vision 5.0: Dyknow.(New Products: THE LATEST OFFERINGS IN HARDWARE, SOFTWARE and THE INTERNET)
Renzulli learning systems: Renzulli Learning.(New Products: THE LATEST OFFERINGS IN HARDWARE, SOFTWARE and THE INTERNET)
NINTENDO'S OLD GEM 'BOULDER DASH,' NEW 'PANZER TACTICS' COMING IN FALL.(LA.COM)
ValueClick facing lead-generation gap: stock takes a tumble as Wall Street reacts to FTC probe.(INTERNET)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles