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StatusiWeb Group Inc. announces its results for the third quarter of 2006.
Sales Doubled and EBITDA increases by 183%
MONTREAL, QC, August 10 – iWeb Group Inc. (TSX-V : IWB) today announced the financial results of its third quarter ended June 30, 2006.
In this third quarter, iWeb Group recorded consolidated revenues of 1 538 969 $, an increase of 761 485 $ that doubles last year’s revenues of 777 484 $ for the same period.
Gross profit increased by 454 410 $ or 106 %, from 427 510$ in the third quarter of 2005 to 881 920$ in the third quarter of 2006. EBITDA went from 142 650 $ in the third quarter of 2005 to 403 825 $ in the third quarter of 2006, an increase of 183%. Net earnings grew by 96 565 $, from 45 371$ to 141 936 $ in the same 2006 quarter.
At March 31, 2006, Shareholders Equity was 1 118 692 $.
« We are very happy with the results of the first three quarters of the year and to successfuly have supported our growth according to our objectives. We will continue in the same direction for the months to come and will maintain our efforts to solidify our place as leader of our market. ” said Eric Chouinard, President and CEO.
About iWeb Group Inc.
Founded in 1996, iWeb offers a full line of advanced web hosting either through shared hosting, dedicated servers or collocation in its own data centers featuring the latest technological equipments. Its services are rendered in English, French or Spanish to clients in more than 95 countries.
iWeb Group Inc. is listed on the TSX Venture Exchange under the IWB stock symbol. For more information, visit the Company’s website at investors.iweb.ca.
The financial information in this news release is taken from iWeb’s financial statements for the quarter ended December 31, 2005.
Readers are cautioned to refer to such financial statements for complete information, as the information in this release has been selectively drawn from the full documents and is not complete. iWeb’s MD&A will be filed in the time period provided for in the rules. They can be found on: www.sedar.com
FINANCIAL INFORMATION
| Third quarter ended June 30 | ||
|---|---|---|
| 2006 | 2005 | |
| Revenue | 1 538 969 $ | 777 484 $ |
| Cost of goods sold | 657 049 $ | 349 974 $ |
| Total assets | 6 531 158 $ | *3 213 627 $ |
| Net earnings | 141 936 $ | 45 371 $ |
| Net income per share | 0,006 $ | 0,002 $ |
| Shareholder equity | 1 118 692 $ | *701 716 $ |
| EBITDA | 403 825 $ | 142 650 $ |
| Earnings per share | 573 696 $ | *42 933 $ |
*At September 30, 2005
|
TICKER SYMBOL IWB (TSXV) |
SOURCE Éric Chouinard, President and CEO |
INFORMATION Marc Guindon, Chief Financial Officer Tel.: (514) 286-4242 http://investisseurs.iweb.ca Dan Brennan |
« The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. »
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