CyPost Corporation Reports Preliminary Third Quarter EPS; Company Confident it Will Report First Profitable Quarter.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 9, 2001 CyPost Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :POST) today announced its estimated earnings per share for the three months ended September 30, 2001 should be approximately $0.07 earnings per diluted common share, compared to a loss of ($0.04) for the three months ended September 30, 2000, and earnings per share for the nine months ended September 30, 2001 should be approximately $0.01 earnings per diluted common share, compared to a loss of ($0.26) for the nine months ended September 30, 2000. These results are due to an extraordinary accounting event resulting in the elimination of the company's debt in the amount of $2,498,449.46 including interest charges of $44,450.27. CyPost will release its full third quarter financial results upon review by its auditors. "In light of the current economic condition in the technology sector, I am pleased with the steps CyPost has taken to position itself for future growth," stated Chairman J. Thomas Johnston For the Civil War soldier and US politician, see . Thomas Johnston CH (1882 – 5 September 1965) was a prominent Scottish socialist and politician of the early 20th century, a member of the Labour Party, a Member of Parliament (MP) and government minister – usually . "The third quarter has proven to be a pivotal point for CyPost as we improved operational efficiencies, implemented various policies and strengthened our leadership team. In addition, we commenced numerous initiatives intended to improve employee productivity, as well as customer satisfaction. I remain confident the improvements we have made to date, will enable us to achieve strong growth in the future and achieve our new mission statement of 'Employing the best staff pursuing the ultimate in customer service'." 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 See how to access the Internet. services and a broad selection of business services, both of which are offered regionally in the Pacific Northwest and nationwide in 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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