Business News

Nstein Technologies announces improved 2009 Q2 results

Friday 14. August 2009 - Nstein Technologies inc. (TSX-V: EIN), today announced its results for the second quarter of 2009 ending on June 30, 2009.

Nstein 2009 Q2 revenues were $6.2 million, up 3% compared to $6 million a year earlier. The Company posted earnings before financial charges, income tax, depreciation, amortization, exchange loss and restructuring charges (EBITDA) of $335,182 compared to a negative EBITDA of $1,176,642 for the second quarter of 2008. The net loss amounted to $258,841 or $0.005 per share, compared to a net loss of $1,551,727 or $0.03 per share for the same period the previous year.

“These results demonstrate the positive impact of the cost-cutting measures introduced by the company over the last twelve months. Because of the uncertain economic climate, the cost structure was reduced significantly, thereby making it possible to post a positive EBIDTA in the second quarter. This earnings level meets our expectations and again confirms the appeal of Nstein solutions to content publishers seeking avant-garde tools to drive their digital strategy. Our current and potential clients are still affected by the sharp decline in their advertising revenues during this recessionary period but signs of improvement encourage us to approach the second half of the year with cautious optimism. The financial situation of the company is sound, and we will be in a good position to profit from the coming recovery,” said Luc Filiatreault, President and CEO of Nstein Technologies.

At June 30, 2009, the company had cash of $6 million, working capital of $7.6 million and long-term debt of $0.4 million.