TORONTO, ONTARIO -- (Marketwire) -- 03/20/13 -- Cyberplex Inc. (TSX: CX) a leader in mobile, social and online audience targeting and customer acquisition, today announced its financial results for the fiscal year ended December 31, 2012. Total revenue from continuing operations for the year was $13.5 million, a slight increase from the $13.4 million recorded in 2011, and the adjusted EBITDA loss for the year was $2.4 million as compared to a $2.8 million loss in the prior year.
"The financial results reported today are disappointing, but reflect a year of rebuilding for the future," said Geoffrey Rotstein, Chief Executive Officer. "Our priority during the year was to re-establish a foundation for Cyberplex based on areas of strength, quality and where there are considerable growth opportunities. These efforts involved shedding business units that were volatile and lacked longevity, and investing in an exciting future for the company and our shareholders. We now have an innovative technology platform in one of the fastest growing segments of digital advertising and expect to once again establish ourselves as a leader in this dynamic industry."
The Company's core advertising platform enables leading agencies and brands to achieve the most targeted and efficient real-time mobile, social, video and web advertising. The system combines powerful data, advanced analytics and automated algorithms to determine the best advertising placements for any given campaign and to bid the optimal price for those placements through leading advertising exchanges, all in real-time. This highly sophisticated and scalable system analyzes up to 200,000 potential advertising placements every second, with access to tens of billions of advertising placements every day.
"While our rebuilding efforts continued into the first quarter of 2013, we are now emerging a stronger company with no debt and with a more attractive and sustainable value proposition," added Rotstein. "We expect the second quarter and the remainder of the year to be less about investments in the platform and more focused on sales and marketing to agencies and brands across North America. We are already driving better results than many of the largest players in the industry and with a powerful and disruptive technology, we believe we have a core advertising platform to drive Cyberplex for the years ahead."
Non-IFRS Financial Measures
This press release includes a discussion of "Adjusted EBITDA," which is a non-IFRS financial measure. The Company defines Adjusted EBITDA as net loss from operations before; (a) depreciation of property and equipment and amortization of domain properties and other intangibles; (b) share-based payments, (c) restructuring and acquisition costs, (d) impairments of goodwill and intangible assets and other items, net. Management uses Adjusted EBITDA as a measure of the Company's operating performance because it provides information related to the Company's ability to provide operating cash flows for acquisitions, capital expenditures and working capital requirements. The Company also believes that analysts and investors use Adjusted EBITDA as a supplemental measure to evaluate the overall operating performance of companies in its industry.
Most Popular Stories
- Apple Wants Samsung to Pay $22M for Patent Dispute Legal Bills
- NASA Fellowships, Scholarships Bring Diversity to Workforce
- Twitter Coming to Phones Without Internet
- Dish Network Leads 2013 Top 50 Advertisers List
- Networks Vie for U.S. Hispanic TV Viewers
- Ad Counts Rise in 2013 for Hispanic Magazines
- Jobs Report Brings Cheer As Unemployment Drops to Five-year Low
- Starbucks Gets Grinchy; No Gingerbread Lattes for Tampa Customers
- Entravision Initiates Quarterly Cash Dividend
- Warner Bros. Unleashes 'Hobbit: Desolation of Smaug' Merchandise