jason-also, a BREAKEVEN OR PROFITABLE COPI (1st qtr of 2008)is much much better than the majority of pink or bb stocks...and i like this last PR very much!>>>Compliance Systems Corporation Announces Increased Revenues of 28.2% for Q2 2007
Last Update: 7:30 AM ET Sep 14, 2007Print E-mail Subscribe to RSS Disable Live Quotes
GLEN COVE, N.Y., Sep 14, 2007 (BUSINESS WIRE) -- Compliance Systems Corporation (OTC/BB: COPI) a provider of Do Not Call compliance solutions, announces the results of the quarter ended June 30, 2007.
Revenues for the three months ended June 30, 2007 were $476,674 compared to revenues for the corresponding period in 2006 of $371,942. This increase of $104,732 or 28.2% was principally attributable to increased revenues from VeriSign, its principal TeleBlock distributor. An increase of 65 million in call counts for its TeleBlock service increased the Company's revenues by $165,526. The Company also generated additional revenue of $36,753 from other revenue sources including its online guides, VoIP services, and its new product, Enhanced Caller ID. This substantial increase in revenues for the quarter was partially offset by reduced revenues of $97,547 earned from a former TeleBlock distributor, as compared to the 2nd quarter 2006.
The Company's quarterly net loss increased by $67,684, or 23.8%, to $351,396 in the 2007 second quarter from $283,912 in the 2006 quarter. The 2007 second quarter net loss included $90,436 due to amortization of deferred loan costs. These costs were deferred until the Registration Statement became effective on February 13, 2007. As a percentage of sales, the net loss decreased slightly by 2.6% to 73.7% for the quarter.
Please refer to the Company's quarterly report on Form 10QSB for the quarter ended June 30, 2007 for more complete information on the company's operations.
Call Compliance, Inc. ( www.callcompliance.com), located in Glen Cove, NY, is a developer of technology-based compliance solutions for the teleservices industry. For further information on TeleBlock(R), visit www.teleblock.com; for more information on the Regulatory Guide(SM), visit www.cci.regulatoryguide.com or call 888-674-6774. Call Compliance Inc. is a wholly owned subsidiary of Compliance Systems Corporation (COPI.BB).
Statements contained in this news release regarding expected financial results of the Company and Compliance Systems Corp., are forward-looking statements, subject to uncertainties and risks, many of which are beyond the Company's control, including, but not limited to, market conditions, interest rate and currency fluctuations, dependence on key personnel, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Factors Affecting Forward Looking Statements" in the Company's Form 10-QSB for the quarter ended June 30, 2007, as filed with the Securities and Exchange Commission. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above. The Company cautions that historical results are not necessarily indicative of the Company's future performance.
SOURCE: Compliance Systems Corporation
Compliance Systems Corporation
Bill White, 516-656-4133
Copyright Business Wire 2007
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