Call Genie announces fourth quarter and year-end results for fiscal 2005
3 April 2006
Call Genie Inc. (TSX-V: GNE), a provider of enhanced voice directory services, today reported fourth quarter results for the three months and fiscal year ended December 31, 2005.
Revenues for the three month period ended December 31, 2005 increased to $95,027 from $Nil for the same three month period in 2004. Revenues for the fiscal year ended December 31, 2005 increased to $190,378 from $Nil in the fiscal year ended December 31, 2004. The increase in revenues over both periods was as a result of starting the commercial HelloYellow(TM) service in the Greater Toronto Area in the first quarter of 2005 and selling the services through a joint operating agreement with the Yellow Pages Group. Fourth quarter revenues increased 84% over the third quarter as the YPG sales force took on responsibility for sales and began to successfully introduce HelloYellow(TM) to merchants in Ontario.
"Fiscal 2005 was a break-through year for Call Genie as the company began to monetize its relationship with YPG. We are pleased with the growth in our revenues as merchants recognize the added value of this new and innovative product." said Mr. Michael Durance, the company's Chief Executive Officer. "We will step-up our plans for international expansion while continuing to build upon the solid foundation we've established in Canada."
The net loss for the company for the fourth quarter of 2005 was $755,785 compared to $475,535 for the same period in 2004. The net loss for Call Genie for the fiscal year ending December 31, 2005 was $2,148,166 compared to $1,895,160 for the same period in 2004.
For the fourth quarter ended December 31, 2005, the cash used in operating activities was $549,458 compared to cash used in operating activities of $453,193 for the fourth quarter of the previous year. For the year ended December 31, 2005, cash used in operating activities was $1,859,254 compared to $1,569,655 for the same period in 2004. The increase in cash flows used in operating activities for the year ended December 31, 2005 is primarily attributable to increased personnel and operating costs used in further developing the product software and processes and supporting the commercial launch.
As at December 31, 2005, Call Genie had a positive working capital of $2,341,328.
The preceding Annual Results for Call Genie should be read in conjunction with Call Genie's audited financial statements and the accompanying notes for the year ended December 31, 2005 and the related Management Discussion and Analysis ("MD&A"), which have been filed on SEDAR (www.sedar.com) and on the Call Genie website at www.callgenie.com
For a report on Call Genie's progress, refer to the Outlook section of the MD&A.
About Call Genie
Call Genie is a provider of enhanced voice directory services. Call Genie's services include the development of interactive voice recognition applications, marketing and sales planning, operational support, as well as management of related technologies and network operations center components. Call Genie is a leader in the voice sector of the interactive, local directory services market - the business of bringing together consumers and merchants. Please visit our website at www.callgenie.com
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contents of this news release.
Certain statements regarding Call Genie Inc. and its business contained herein are forward-looking statements. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "anticipate" or "will" and similar expressions) may include estimates, plans, expectations, opinions, guidance or other statements that are not statements of fact. Although Call Genie Inc. believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties that could cause actual outcomes to differ materially from those anticipated or implied in the forward-looking statements. Call Genie Inc. does not assume responsibility for the accuracy and completeness of the forward-looking statements and does not undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Call Genie Inc.'s forward-looking statements are expressly qualified in their entirety by this cautionary statement.
%SEDAR: 00021051E
For further information: Investor Relations and Media: Alex W. Blodgett, Call Genie Inc., Tel: (403) 410-6875, Email: alex.blodgett@callgenie.ca; CHF Investor Relations: Cathy Hume, CEO, Tel: (416) 868-1079, Ext. 231, Email: cathy@chfir.com; Linda Armstrong, Vice President, Tel: (416) 868-1079, Ext. 229, Email: Linda@chfir.com
Source: newswire
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