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Creative
Vistas > Investor Relations
> Headlines > November 14, 2008 |
Press Release
Creative Vistas Reports Record Revenues for Third Quarter 2008
Company's Expansion of U.S. Broadband-Related Services Drives 25% Revenue Growth for Quarter and 31% for Nine Months
Company Expects Positive EBITDA for the fourth quarter
Creative Vistas Inc.
today reported strong financial results for its third quarter and nine months ended September 30, 2008. Following are highlights of that report:
- Revenues rose 25% year-over-year for the third quarter and 31% for the first nine months
- U.S. revenues continue rapid growth, nearing annual run-rate of $10 million plus.
- Petroleum prices and a softening Canadian dollar had a short term negative impact on the results
- EBITDA loss and operating loss narrow from second quarter
- July 2008 sale of stake in 180 Connect Inc. adds $5.6 million in cash
- Company has secured contracts for three largest cable providers in the US, all based on organic growth
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