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SelectCore increases gross profit 874%. Reports first quarter results.
For Immediate Release 05/30/2007 TECUMSEH, ON: SelectCore Ltd., (TSX-V: SCG) Canada's 6th fastest growing company* and one of the nation's largest telecom distributors and service providers targeting the ever-growing credit challenged consumer market, announced today the company's financial results for the first quarter of 2007. By way of brief overview, revenue was $7,517,750, an increase of over 3% compared to Q1, 2006 which is seasonally typical for SelectCore's business. Gross profit was $286,107, an increase of 874% over Q1, 2006. Net earnings including stock-based compensation was ($289,372) and earnings per share was ($0.001). The Company's un-audited interim consolidated financial statements and management discussion and analysis for the period ending March 31, 2007 are available on SEDAR at www.sedar.com. Peter Burdon, CFO of SelectCore stated "This is our very first reporting period with results from all business segments in our newly integrated public company. We recently started to execute our multi-faceted growth strategy by investing in the launch of higher margin products and services as well as new business opportunities." Ryan Deslippe, President of SelectCore further commented "We are now positioned to begin capitalizing on our strategic efficiencies and legacy businesses. We have been making significant progress with both our distribution and service provider divisions and our focus is now on growing revenues, profitability and shareholder value." About SelectCore: SelectCore (TSX-V: SCG) is in the business of providing highly-valued telecommunication products and services to the ever-growing credit-challenged consumer market in Canada. Focused on launching new offerings in high-growth areas such as wireless and IP, SelectCore's mission is to aggregate a vast community of ultra-loyal users. The products and services are marketed through the company's nation-wide retail distribution channel. In addition to its long-term partnerships with the major telecom carriers, the company maintains its own network infrastructure. * In June of 2006, SelectCore was ranked Canada's 6th fastest-growing company by Profit 100.  This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.  View or download a printable version of this article |
