Urban Communications Inc. Announces Record Revenue in Second Quarter of 2017

VANCOUVER, British Columbia, July 17, 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 second quarter ending June 30, 2017.  Financial results for the three month period will be released in August.  The information contained herein may change based on final results.

Highlights:

  • Revenue for the three months ended June 30, 2017 was $658,222, an increase of $84,389, or 14.7%, compared with the first quarter of 2017, and an increase of $261,757, or 66%, compared with the same period in the prior year
  • Revenue for the six months ended June 30, 2017, was $1,232,055, an increase of $637,914, or 107%, compared with the same period in the prior year
  • Total year end revenues for 2016 were $1,464,026

“We are pleased with the performance we have delivered in the first half of 2017,” said John Farlinger, Urban’s CEO. “Overall growth continues at an accelerated pace with a 15% revenue increase in Q2 over Q1 and a 107% increase over the first half of 2016.  We are on track to meet our objectives for the year and are focused on winning new monthly recurring revenue opportunities as well as delivering new products and services to increase average revenue per user and market share.”

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.

CONTACT: CONTACT INFO:

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