Yak Communications Inc (fka YAKC)

[01Miami]

YAK Communications Announces Best Quarterly Results To Date; Sixth Profitable Quarter in a Row

TORONTO--(BUSINESS WIRE)--Nov. 18, 2002--YAK Communications (USA),
Inc. (OTCBB:YAKC), a provider of dial-around long distance discount
services to consumers, today announced its best ever first-quarterly
revenue and operating earnings results. For the quarter ended
September 30, 2002, YAK announced sales of (US) $8,179,000, an
increase of 55 per cent compared to the same period last year.
-0-
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Three months Three months
ended ended
in thousands of dollars except
per share amounts September 30, September 30,
2002 2001
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Net Revenue $ 8,179 $ 5,277
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Gross Profit 2,780 1,172
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Income Before Income Tax 826 166
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Income Taxes 181 -
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Net Income 645 166
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Basic Earnings Per Share 0.13 0.04
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Diluted Earnings Per Share 0.11 0.03
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"The increased figures over last year are due in large part to the
growth in our existing markets and the addition of eight new markets
from last year," said YAK Communications President and CEO Charles
Zwebner. "YAK's recent listing on the Nasdaq OTC:Bulletin Board, the
signing of a strategic Marketing and Services agreement with TELUS
Corporation (TSE:T, T.A; NYSE:TU) and expansion into the United
States, positions us for continued growth."
Income before tax increased to $826,000, an increase of $660,000
or 397 per cent over the same period last year. This increase is after
an operating loss in the United States of $656,000, of which $482,000
was related to advertising and promotion to develop the Company's new
markets in the United States. In the same period last year, there were
no advertising and promotion expenditures in the United States.
ABOUT YAK COMMUNICATIONS INC.
YAK Communications (USA), Inc. (OTCBB:YAKC) was incorporated in
December 1998 in Florida with the objective of providing international
long distance discount services to both business and residential
customers. Yak Communications specializes in offering these services
to consumers by way of a dial-around (in the United States this is
commonly known as "10-10"). The Company is a facilities based
reseller, which utilizes its own switching systems. Visit www.yak.com.
Statements contained in this news release not strictly historical
are forward looking within the meaning of the safe harbor clause of
the Private Securities Litigation Reform Act of 1995. The Company
makes these statements based on information available to it as of the
date of this News Release and assumes no responsibility to update or
revise such forward-looking statements.
Editors and investors are cautioned that forward-looking
statements invoke risk and uncertainties that may cause the Company's
actual results to differ materially from such forward-looking
statements.
These risks and uncertainties include, without limitation, demand
for the Company's services, competition from larger and/or more
experienced telecommunications providers, the Company's ability to
continue to develop its market, general economic conditions,
government regulation, and other factors that may be more fully
described in the Company's literature and periodic filings with the
Securities and Exchange Commission.
--30--as/na*
CONTACT: TCG PR
Media:
David Eisenstadt/Danny Roth, 416/696-9900
[e-mail]/[e-mail]
or
YAK Communications (USA) Inc.
Investors:
Larry Turel, 954/938-8391 ext. 132
[e-mail]

TodINDUSTRY KEYWORD: TELECOMMUNICATIONS EARNINGS
SOURCE: YAK Communications (USA) Inc.
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Monday, 18 November 2002 14:15:22
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I like to keep my DD close to the vest..BTW guys I can only post 3 times so I cant waste time talking about sports