TORONTO — Online ad pioneer Cyberplex Inc. announces a stellar second quarter, with total revenues up 172% for the three months ended June 30, 2009.
Cyberplex provides web advertising solutions, online customer acquisition strategies and technology development to clients across Canada and the US.
As well as the large increase in revenue, to $26 million, the quarter also saw a $17.2 million public financing in June, a 40% increase in the company sales force to contend with increased business opportunities, and a doubling of international business to more than 10% of company revenue. The bottom line for the quarter: Ebitda of $2.5 million, net income of $1 million and a net cash balance of $22 million, as well as $7 million in available credit facilities.
"We are very pleased with our performance during the second quarter in what is typically a slower time for our industry", says Geoffrey Rotstein, president and CEO. "Our team has continued to execute according to the plan developed at the beginning of the year [and] we are excited about the opportunities for the remainder of the year."