(.03) eps IPC (INTERNATIONAL PLAY COMPANY)
Posted: Friday Feb 29 7:46:04PM 2008
Released 11th hour today....... IPlayco Releases Financial Statements for First Quarter 2/29/2008 LANGLEY, BRITISH COLUMBIA, Feb 29, 2008 (Marketwire via COMTEX News Network) -- IPlayco Corporation Ltd. (TSX VENTURE:IPC) announces the release of its unaudited consolidated financial statements for the three months ended December 31, 2007. The consolidated financial statements of the Company can be accessed at Sedar website. Sales for the three months ended December 31, 2007 were $1,803,782, a decrease of $554,206 or 24% over the comparable period in the prior year. The decrease was attributable primarily to an absence of European sales, coupled with the downturn in the United States economy. Gross profit during the three months ended December 31, 2007 decreased to $497,887 from $785,893 in 2006, due to the lower sales volume, and increased salaries and wages arising primarily from employee bonuses paid during the quarter. Operating costs of $786,071 were $138,489 (21%) higher than the three month period in the prior year, due primarily to an increase in foreign exchange losses, and higher salaries and benefits due to an increase in stock compensation. The Company incurred a net loss for the three month period of $288,184 ($0.03 loss per share), as compared to a profit of $91,297 ($0.01 earnings per share) in the same period last year. The results of the consolidated financial statements discussed above reflect the three months period ended December 31, 2007, as compared with the comparable period in 2006. The fiscal year end for IPlayco Corporation Ltd. (IPC) is September 30; for full details please refer to the most recent annual and interim statements which can be accessed at the Sedar website.