Uniserve Reports Results For Quarter Ended August 31, 2021

VANCOUVER, British Columbia, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Uniserve Communications Corporation (“Uniserve”) a provider of IT solutions and services to business and residential customers in Canada wishes to announce its first quarter fiscal 2022 financial results. Revenues for Q1 FY2022 were $1,801K as compared to $1,885K for Q1 of the prior fiscal year. The first quarter fiscal 2022 Operating Profit was $160K compared to an Operating Loss of $228K for Q1 in the prior fiscal year. Net Income for the first quarter of fiscal 2022 was $129K as compared to a Net Loss of $260K for Q1 of the prior fiscal year.

Uniserve Communications Corporation
Consolidated Statements of Comprehensive Income (Loss)
(Expressed in Canadian dollars)
	Three months ended
	August 31, 2021				August 31, 2020
Revenue	$	1,800,611			$	1,885,476
Cost of revenues		1,002,596				1,137,724
		798,015				747,752
Expenses
Operations and service delivery expenses		439,783				745,935
Sales and marketing		99,920				104,349
Amortization of property and equipment		83,455				105,427
Amortization of intangible assets		15,184				20,081
		638,342				975,792
Operating Profit (Loss)		159,673				(228,040	)
Other Expenses (Income)
Finance charges		44,852				59,489
Gain on foreign exchange		(2,358	)			(27,104	)
Gain on settlements and reversals of debts		(8,320	)			-
Finance Income		(3,311	)			-
		30,863				32,385
Net and Comprehensive Income (Loss) for the period	$	128,810			($	260,425	)

About Uniserve

Uniserve Communications Corporation is a 2018 TSX Venture top 50 performance company.

Uniserve is a unified communications company which has been in business for 30 years, combining voice, data and media services all into one seamless solution, one bill and one point of contact.

Uniserve prides itself on world class customer service based in Canada. When all else is equal, clients can trust Uniserve to have a great price, a great experience and to be a company that customers enjoy working with – we call it “ONE click, call, connect”.

This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.

Learn more at www.uniserve.com or at www.sedar.com.

Walter Schultz
Chairman of the Board

For more information please call 604-395-3961 or email corporate.relations@uniserveteam.com.

Neither TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Management has prepared this release and no regulatory authority has approved or disapproved the information contained herein. The statements contained in this news release that are not historical facts are forward looking statements. Such statements are based on management’s estimates, assumptions and projections using available information. Uniserve cautions that actual financial results could differ materially from the current expectations due to a number of factors.