02/06/2013
[ACCESSWIRE]
CALGARY, AB, February 6, 2013 -- Glenbriar Technologies Inc. (CNSX:GTI) today released its unaudited financial results for the 3 months ended December 31, 2012:
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|Glenbriar Technologies Inc.| 3 months ended December|
| |31 |
|---------------------------------------------------------|
| | 2012 | 2011 |
|---------------------------------------------------------|
| Revenue |$1,493,538 |$1,669,734 |
|---------------------------------------------------------|
| Gross profit |421,378 |459,732 |
|---------------------------------------------------------|
| Income from operations |59,984 |84,680 |
|---------------------------------------------------------|
| Net income and | 54,456 | 79,494 |
|comprehensive income | | |
|---------------------------------------------------------|
| Net income per share |$ - |$ - |
|(basic and diluted) | | |
|---------------------------------------------------------|
| Average Common Shares |47,512,290 |47,314,060 |
|(basic and diluted) | | |
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Results from Operations
Revenue decreased 11% for the quarter ended December 31, 2012 from the prior year period, made up of a 9% rise in services and a 38% decrease in equipment and software sales. These changes reflect a quarterly spike in equipment sales in the prior year period which was not repeated in the current period. Profitability remained relatively flat despite the lower revenue due to improved margins on both service and equipment revenue, and the inclusion of a $25,000 gain on sale of related entities in 2012.
About Glenbriar
Glenbriar Technologies Inc. (CNSX:GTI) has supported the IT needs of some of Canada's largest manufacturing and distribution companies for over 20 years. From its offices in Calgary, Vancouver and Waterloo, Glenbriar's staff of IT professionals manage and support the IT needs of over 300 companies. From its early roots in developing and supporting ERP systems, Glenbriar has branched out to support all things technical under a client's roof, from complete infrastructure and business applications to telephony solutions. See www.glenbriar.com for more details.
For further information call:Robert MathesonChristine Padaric
Glenbriar Technologies Inc.Glenbriar Technologies Inc.
+1 (403) 450-7410+1 (519) 743-2444 x207
The CNSX has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.
This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond Glenbriar's control. Some of these risks and uncertainties may be described in Glenbriar's corporate filings (posted at www.sedar.com). Glenbriar has no intention or obligation to update or revise any forward looking statements due to new information or events.
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