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Home > Investor Relations > Financial Information

Financial Information

6. SUMMARY OF QUARTERLY RESULTS

The following table sets out selected financial information for the Company for the eight most recently completed quarters up to October 31, 2007, prepared in accordance with Canadian GAAP and expressed in Canadian currency:

	Oct 2007	Jul 2007	Apr 2007	Jan 2007
Change in subscriber base	4,300	3,500	2,700	2,400
	$	$	$	$
OPERATIONS:
Total revenue	6,662,915	6,447,655	6,177,635	5,847,920
Income before taxes	641,545	129,278	433,167	901,101
Net income	358,626	81,278	274,167	566,101
Basic earnings per share	0.03	0.01	0.02	0.05
Fully diluted earnings per share	0.03	0.01	0.02	0.05
FINANCIAL POSITION:
Total assets	25,251,571	25,825,876	24,712,357	23,421,288
Shareholders’ equity	16,839,675	16,481,050	16,361,972	16,087,805

	Oct 2006	Jul 2006	Apr 2006	Jan 2006
Change in subscriber base	2,200	2,500	2,300	2,300
	$	$	$	$
OPERATIONS:
Total revenue	5,544,640	5,315,435	5,055,508	5,049,295
Income before taxes	838,200	358,232	854,731	458,533
Net income	440,839	224,232	546,126	281,138
Basic earnings per share	0.04	0.02	0.05	0.02
Fully diluted earnings per share	0.04	0.02	0.05	0.02
FINANCIAL POSITION:
Total assets	23,880,550	22,376,117	22,144,185	20,064,909
Shareholders’ equity	15,521,703	15,080,864	14,856,631	14,063,920

7. DISCUSSION OF FOURTH QUARTER 2007

In the fourth quarter, total revenues amounted to approximately $ 6.6 Million up by 20% from the 2006 corresponding quarter. Income before taxes in the fourth quarter amounted to approximately $641,000. This increase again reflects the consistent growth in the subscriber account base. Operating results for the fourth quarter were impacted by the same factors as the full year, which mainly consists of rapid growth plans of the Company, tight controls over cost of sales and increased marketing expenditures to facilitate the Company’s growth.