In this second quarter, iWeb Group more than doubled its consolidated revenues to $1,378,125, an increase of $712,585 or 107% more than the same period last year when revenues were $665,540.
Gross profit increased by $ 432,814 or 127%, from $339,732 in the second quarter of 2005 to $772,546 in the second quarter of 2006. EBITDA went from $95,322 to $359,709, an increase of 277%. Net earnings grew by $163,767, from $25,381 to $189,057.
At March 31, 2006, Shareholders Equity was $972,255. "We are very happy with these results! With sales of $2,520,234 for the first six months of our 2006 financial year, we have met our objectives. From June 1st, with our second data center coming on line, we are very confident for the balance of the year." said Eric Chouinard, President and CEO.
"This sales increase of 107% is due to the exceptional commitment and hard work of our team and I thank them. Our biggest challenge is to manage this rapid internal growth and I think we have been successful" adds Martin Leclair, Cofounder and COO.
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 stock symbol IWB. 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 March 31, 2006, which may be found on www.SEDAR.ca. iWeb's MD&A will be filed timely as required.
Readers are cautioned to refer to such financial statements for complete information, as the information in this release is a summary only.
For complete details, refer to the investors section of our site at http://iweb.ca/en/doc/sedar-2006Q2.pdf
"The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release."
Questions and comments about this press release:
Read the article about the second quarter results and post comments on our blog (http://blog.iweb.ca/en/2006/05/financial-results-for-the-second-quarter-of-20052006-revenues-increase-by-107-and-ebitda-by-277/388.html)
For further information:
Marc Guindon
Chief Financial Officer
(514)286-4242
http://investors.iweb.ca
Press Contact: Marc Guindon
Company Name: iWeb technologies Inc.
Email: mg@iweb.ca
Phone: 1-514-286-4242
Website: investors.iweb.ca
AndhraNews.net News for May 25, 2006