CyPost Corporation Reports Results for Third Quarter 2002.Business Editors/High-Tech Writers DOVER, Del.--(BUSINESS WIRE)--Nov. 15, 2002 CyPost Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :POST) today announced its earnings per share for the three months ended September 30, 2002 of a loss of ($0.02) per common share, compared to a gain of $0.08 for the three months ended September 30, 2001. Revenues for the third quarter ending September 30, 2002 were $716,798 compared with $856,644 for the third quarter of 2001, a decrease of approximately 16%. The reduction in revenue was in part due to prevailing economic conditions and 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. "For the second straight quarter we have been successful in reducing our direct costs by either canceling or renegotiating inefficient telecommunication agreements", 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 are continually evaluating the efficiency of our operations with the intent of maximizing the return of our core assets and divesting non-core businesses, in an effort to effectively execute our business model within the Internet service industry." 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, 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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