BRANCHEZ-VOUS! registers its second consecutive profitable quarter
Montréal, November 26, 2002 -- For the third quarter of 2002, ended September 30, 2002, BRANCHEZ-VOUS! inc. (TSX Venture: BZV) registered a net profit of $32,042, compared to a net consolidated loss of $134,088 for the same period in 2001. The company had registered a net profit of $29,570 in the second quarter of 2002. A one-time drop in expenses, related to special agreements with past creditors, contributed $18,044 to the net profit registered in Q3 2002.For the first nine months of 2002, BRANCHEZ-VOUS! had a net profit of $39,805, including a contribution of $ 27,904 in a non recurring drop in expenses, compared to a consolidated net loss of $610,677 for the first nine months of 2001. On a per share basis, for the third quarter and for the first nine months of 2002, the profit was essentially nil, compared to a loss of 1 cent per share for the third quarter 2001, a profit essentially nil for the second quarter of 2002, and a loss of 2 cents per share for the first none months of 2001.
The improvement in the bottom line was parallel to an increase in the top line for continued operations. For the third quarter 2002, BRANCHEZ-VOUS! had revenues of $203,660, compared to consolidated revenues of $298,259 for the third quarter 2001. This decrease is entirely due to the ceasing of e-commerce activities, which accounted for $131,771 in the third quarter of 2001, relative to $166,488 during the same period for continued activities, mostly related to advertising sales. Consequently, revenues derived from continued operations have grown 22% from the third quarter of 2001 to the third quarter of 2002.
For the first nine months of 2002, BRANCHEZ-VOUS! had revenues of $627,235, a decrease of 31% compared to consolidated revenues of $914,178 for the first nine months of 2001. This decrease is mostly due to the discontinuation of e-commerce activities, which contributed $300,031 to revenues for the first nine months of 2001, relative to a contribution of $614,147 for advertising sales during the same period. Consequently, revenues derived from continued operations increased 2% from the first nine months of 2001 to the first nine months of 2002. As of September 30, 2002, BRANCHEZ-VOUS! held $63,450 in cash and equivalents. This amount compares to $51,834 as for June 30, 2002, and to $137,320 as of September 30, 2001. Management expects to maintain breakeven results for its continued media-based operations in the coming quarter.
About BRANCHEZ-VOUS! Inc.
Based in Montreal, BRANCHEZ-VOUS! inc. is a Quebec leader in New Media. BRANCHEZ-VOUS! owns and operates BRANCHEZ-VOUS.com, the largest independent portal in Quebec. The Company also manages the largest French-language Internet network in North America, the BRANCHEZ-VOUS! Network, which consists of over 40 sites reaching in excess of one million French Canadian users. BRANCHEZ-VOUS! is an official representative in Canada for the MaxOnline network, the largest network of Web sites in North America, and the Altavista search engine. BRANCHEZ-VOUS! shares are traded on the TSX Venture Exchange 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: 514 831-6200
nicholaspowell@sympatico.ca
Send | Print this press release
