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Virtutone (VFX.v) @ .18$ Ranks #1 on Branham300’s Top 10
Yesterday, profitable in the past (5) quarters, Virtutone(VFX.v) announced the following. And on April 10th, they announced signing a reselling agreement with one of Canada's largest Telecom company.
Virtutone Ranks #1 on Branham300’s Top 10
Growth Companies for 2011
April 25th, 2012 – Sherwood Park, Alberta – Virtutone Networks Inc.,(“Virtutone”) (TSX Venture: VFX.V) a leading provider of Internet-based business telephony services, announced today that it has ranked #1 on the Branham300 list of Top 10 ICT Growth Companies and 298th on the Branham300 list of Top Information and Communications Technology (ICT) Companies in Canada for 2011.
“We are pleased to have been recognized as the fastest growing ICT company in Canada last year by the Branham Group. Virtutone has enjoyed substantial growth over the past few years, and will strive to continue that growth in the years ahead,” said Jason Allen, Virtutone’s President and Chief Executive Officer.
About the Branham300
For nearly 20 years, the Branham300 has highlighted the top Canadian and Multinational ICT companies operating in Canada, as ranked by revenues. It illustrates the depth and breadth of innovative technologies developed in Canada and is widely considered to be a leading source of intelligence on Canada's ICT industry. The Branham300 list consists of the following major categories:
Top 250 Canadian ICT Companies
The Next 50 Canadian ICT Companies
Top 25 ICT Multinational Companies operating in Canada
Top 25 Up and Comer ICT Companies (category ranked on innovation/not
The Branham300 also recognizes the leaders within each of the sectors of the Canadian
Top 25 Canadian Software Companies
Top 25 Canadian ICT Professional Services Companies
Top 25 Canadian ICT Hardware and Infrastructure Companies
Top 10 Canadian xService Providers (xSP) - (includes ASP, ISP, Wireless SP,
Top 10 Canadian ICT Security Companies
Top 10 Canadian Wireless Solutions Companies
Top 5 Pure-Play Canadian Healthcare ICT Companies
Top 5 Mixed-Play Canadian Healthcare ICT Companies
Top 10 ICT Staffing Companies
Top 5 SaaS Companies
Top 5 Mobile Technologies Companies
Top 20 Movers and Shakers
Top 10 Growth Companies
The Branham300 is published annually on www.branham300.com, as well as in the April/May issue of Backbone Magazine (www.backbonemag.com). Keep up to date with the Branham300 and Branham Group on twitter at @branhamgroup, through Branham’s Newsletter, or RSS feed.
For further information, please contact:
Project Manager, Branham300 & Research Analyst
613-745-2282 Ext. 122
About Virtutone Networks Inc.
Virtutone Networks Inc. is a technology company based in Sherwood Park and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of managed telecommunication services, including: Voice over Internet Protocol, Fax over IP services, Hosted PBX services, DSL & T1 data circuits, wireless solutions for mobile work forces and SCADA networks, and network management and IT-related products.
Additional information can be found on the company's website at www.virtutone.com.
For further information, please contact:
President and Chief Executive Officer
Virtutone Networks Inc.
7807025777 Ext. 101
This document may contain certain forward-looking informational statements(“Forwardlooking statements”) as defined under applicable securities legislation that involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Forward-looking statements are any statements other than statements of historical fact. The use of any ”plan” “expect “ “project” “believe” “should” “anticipate” or other similar words or statements that contain events ”may” or “will” occur are intended to identify forward-looking statements. The forward-looking-statements contained herein are based on certain assumptions including, without limitation, assumptions regarding: global economic conditions; changes in laws and regulations. Although management believes the expectations reflected in the forward-looking statements contained herein are reasonable, no assurances can be given that any of the events anticipated in forward-looking statements will occur, or, if they do, what benefits Virtutone will derive therefrom. As such readers are cautioned not to place undue reliance on forward-looking statements, specifically indicated herein. Virtutone assumes no obligation to update forward-looking statements, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The metrics for Virtutone in Q3 were as follow:
- (5) profitable quarters in a row since signing the Cash Store contract
- Trailing 9 months net earnings(Q1/Q2/Q3) = +204k (+.011$/share)
- Recurring revenues
- No long term debt
- Gross Margin 49% in Q3
- Working capital = +251k
- No goodwill/intangibles
- Current Market cap about 3.2M$
- 18.1M outstanding including the the latest PP, close to 60% insider ownership
- Salaries are not a problem (very reasonable, <100k)
- Hired an IR firm for increased visibility