CyPost Corporation Reports EPS for First Quarter 2002.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 15, 2002 CyPost Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :POST) today announced its earnings per share for the three months ended March 31, 2002 of a loss of ($0.03) per common share, compared to a loss of ($0.03) for the three months ended March 31, 2001. Revenues for the first quarter ending March 31, 2002 were $772,750 compared with $1,063,823 for the first quarter of 2001, a decrease of 27%. The decrease in revenue was primarily due to a decrease in marketing related activities, attrition as a result of the consolidation of ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. operations, and the prolonged slowdown of technology related sector spending. "We are focused on improving the performance of our business by gaining market share and implementing intelligent cost controls, specifically the deployment of a new billing system scheduled to be implemented by the end of the third quarter of 2002" stated CyPost 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. , Javan Khazali. "We have also reduced our telecommunication expenses without compromising quality of service or coverage. Management believes revenue from ISP services will grow as corporate demand grows over the latter half of the calendar year." The company's complete financial results can be found by visiting www.cypost.com or www.sec.gov. About CyPost Corporation Founded in September 1997, CyPost Corporation, via its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , offers a full range of consumer Internet access services and a broad selection of business services, both of which are offered nationwide throughout the United States and Canada. These services are tailored to the specific demands of both its business and residential customers and include connectivity, server co-locations, e-mail, Web hosting, high-speed Internet access and other value-added services. CyPost is also positioning its business to enter the managed security service provider market (MSP (1) (Management Service Provider or Managed Service Provider) An organization that manages a customer's computer systems and networks which are either located on the customer's premises or at a third-party datacenter. ) to provide its Network of Service Providers additional privacy and protection solutions such as managed anti-virus, firewall, VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. , intrusion detection and filtering services. Except for historical matter contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the 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. provisions of 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. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect CyPost Corporation's business and prospects and cause actual results to differ materially from these forward looking statements. |
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