Mount Real Announces Third Quarter Results and Other Important News.MONTREAL -- Mount Real Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :MRF MRF Markov Random Field MRF Material Recovery Facility MRF Materials Recycling Facility MRF Motorcycle Riders Foundation MRF Medium Range Forecast (weather forecasting model) MRF Movement for Rights and Freedoms )("Mount Real") today announced its financial results for the third quarter ended September 30, 2005 Revenue for the nine-months ended September 30, 2005 were $19.5 million compared to $27.6 million for the same period in 2004. Net earnings were $3.6 million for the nine-months ended September 30, 2005 as compared to $8.2 million for the same period in 2004. Earnings per share were $0.41 for September 2005, compared to $0.92 in 2004. Revenue for the three-months ended September 30, 2005 decreased to $3.3 million compared to $12.0 million for the same period in 2004. During the last six months, payment processing issues have resulted in lower volumes for certain TMI TMI Too Much Information TMI Three Mile Island TMI TRMM Microwave Imager TMI Transactions on Medical Imaging TMI Texas Military Institute TMI Teen Missions International TMI Tauber Manufacturing Institute programs. As the payment processing issues are being rectified, Mount Real is continuing to test new TMI programs which will produce increased volume in the upcoming quarters. Net earnings for the three months ended September 30, 2005 were $0.6 million compared to $3.1 million for the same period in 2004. Resignation of Joseph Pettinicchio Mount Real also announced today that Joseph Pettinicchio has tendered his resignation as President, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , and board member in order to dedicate his time to other business interests. Lino Matteo, 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 Mount Real, will assume the role of President until such time that a suitable replacement is hired. "I would like to thank Joseph for his dedication and service over the past 5 years. We wish him success with his future endeavors." said Lino Matteo, CEO, Mount Real. About Mount Real Mount Real provides information management services to the media and technology sector. Mount Real uses a business intelligence system, Tactics Marketing Intelligence (TMI), to enable its clients to more efficiently manage their business. Mount Real is listed under the stock-trading symbol MRF on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . For the complete Third Quarter Report including the Management Discussion and Analysis, Financial Statements and Notes, please consult the company website at www.mountreal.com or the company's SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review filings at www.sedar.com. MOUNT REAL CORPORATION (TSX:MRF) |
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