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Urban Communications Inc. Reports Record Revenue in Q1 2017


FOR: URBAN COMMUNICATIONS INC.

VANCOUVER, British Columbia, April 20, 2017 (GLOBE NEWSWIRE) — Urban Communications Inc. (TSX-V:UBN) one of the country’s first telecommunications companies to deliver Gigabit Internet service to the home, today announced preliminary financial results and a record increase in revenue for the month of March 2017 and the three month period ending March 31, 2017. Financial results for the three month period ending March 31, 2017, will be released in May 2017. The information contained herein may change based on final results.

Highlights:

  • March revenue reached an all time high of $268,000
  • First quarter 2017 revenue saw a 32% increase over the three months ending Dec 31, 2016
  • First quarter 2017 revenue saw a 190% increase over the same period in 2016.

Revenue increase during the period is primarily attributable to strong growth in Urban’s commercial service offering which represented 80% of the first quarter’s revenue.  Financial results for the three month period ending March 31, 2017, will be released in May 2017. The information contained herein may change based on final results.

“Our current revenue growth is a direct result of the success of our sales team in growing our sales funnel,” said John Farlinger, Urban CEO.  “We continue to focus on new monthly recurring revenue opportunities in our commercial segment, particularly in the downtown core.”

Urban’s carrier grade fibre optic network is the ultimate choice in high performance and reliable data network services for any business. With the most competitive pricing, the highest speeds and data transfer limits on Internet plans, guaranteed SLAs, and a legacy-free, congestion-free network architecture, our Internet, Ethernet, private and managed MPLS network services are the best performing services in our market.

For more information about Urbanfibre Gigabit Internet for business or residential customers, please visit www.urbanfibre.ca

ABOUT URBAN COMMUNICATIONS INC.

Urban Communications Inc. (TSX-V:UBN) is a telecommunications company providing a full suite of Internet, voice, video and broadband application products over its 300 km. state-of-the-art carrier grade fibre optic network in Metro Vancouver and Victoria to commercial, residential and public sector customers.  Urban has recently launched high-speed Internet service to residential and commercial subscribers on its network at 1,000 Mbps (1 Gbps).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:

CONTACT INFO: John Farlinger, Chief Executive Officer Phone:  (604) 763-7565 jafarlinger@urbanfibre.ca

INDUSTRY:

Telecom – Telecommunication Services

SUBJECT: MIS

NEWS RELEASE TRANSMITTED BY Globe Newswire

Information: CONTACT INFO: John Farlinger, Chief Executive Officer Phone:  (604) 763-7565 jafarlinger@urbanfibre.ca

Globenewswire



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