BRANCHEZ-VOUS! almost breakeven in First Quarter 2002
Montréal, May 27, 2002 -- BRANCHEZ-VOUS! Inc. (TSX Venture: BZV) almost reached breakeven during the first quarter of 2002, ended March 31, 2002. The company registered a net loss of $21,797 (unaudited) for the period, a reduction of 93% from the $301,464 net consolidated loss for the first quarter of 2001."Continued reduction of our costs has permitted us to come very close to our objective of reaching breakeven", pointed out Patrick Pierra, President and CEO of BRANCHEZ-VOUS! Inc. "We should meet this goal in the coming quarters." In the first 3 months of 2002, revenues for BRANCHEZ-VOUS! Inc. from continued advertising-related operations totaled $169,177. Despite the decrease from the revenues of $260,259 registered for same period in 2001, revenues from core activities of Internet advertising sales were approximately flat. The first quarter of 2001 included $31,715 of revenues attributable to e-commerce activities. These activities were abandoned on March 29 of 2002, with the closure of Microson. (Conforming to the 2001 financial statements, where a provision of $25,000 for the loss relating to these activities in the first quarter of 2002 were included, no revenues or expenses for discontinued operations are included in the financial statements for the 1st quarter of 2002.) Another portion of the decline in revenues can be explained by decreased interest revenues and the non renewal of a contract related to marketing over a mobile telephone network. As of March 31, 2002, liquidity (cash and equivalents) for BRANCHEZ-VOUS! Inc. totaled $72,323. Financial results, the Annual report and additional information are available on SEDAR (www.sedar.com).
About BRANCHEZ-VOUS! Inc.
Based in Montreal, BRANCHEZ-VOUS! Inc. is a Quebec leader in New Media. BRANCHEZ-VOUS! owns and operates the largest independent portal in Quebec as well as manages the largest French-language Internet network in North America. The BRANCHEZ-VOUS! network consists of over 30 sites reaching in excess of one million users in French Canada. BRANCHEZ-VOUS! is also the official representative in Canada of the DoubleClick Network, the largest network of Web sites in North America, and Hi-Media, the principal Internet ad network in France and second largest in Europe. BRANCHEZ-VOUS! shares are traded on the TSX Venture Exchange (ex-CDNX) under the symbol BZV. For more information, go to : www.branchez-vous.com/inc/english
Contact:
Patrick Pierra
CEO
Phone: (514) 842-3838 ext. 249
ppierra@branchez-vous.com
Nicholas Powell
Director, Investor Relations
Phone: (514) 937-4686
nicholaspowell@att.net
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