Glenbriar Reports 2014 Q3 Results

July 22, 2014 12:54 PM EDT | Source: Glenbriar Technologies Inc.

Calgary, Alberta--(Newsfile Corp. - July 22, 2014) - Glenbriar Technologies Inc. (CSE: GTI) today released its unaudited financial results for the 9 months ended June 30, 2014:

Glenbriar Technologies Inc.   9 months ended June 30  
    2014     2013  
Revenue $ 4,560,923   $ 4,610,619  
Gross profit   1,321,191     1,110,182  
Income from operations   441,483     48,680  
Net income and comprehensive income   416,686     28,146  
Net income per share (basic and diluted) $  0.01   $  -  
Average Common Shares (basic and diluted)   48,421,510     48,026,257  
              

Results from Operations

Revenue decreased 1% for the 9 months ended June 30, 2014 from the prior year period, reflecting the sale of the Peartree Dealership product in the first quarter. Net income increased 1,469% to $441,483 from $48,680 for the prior year period, due to improved margins and the inclusion of a $107,000 gain on sale of the Peartree Dealership product. See the 2014 Q3 Report for details.

About Glenbriar

Glenbriar Technologies Inc. (CSE: GTI) is a leading provider of Cloud-enabled business technology solutions. Glenbriar's IT professionals and software developers design, manage and support solutions that include IT Services, Cloud Services, Portals & Collaboration, Unified Communications, Security and Software Services. See www.glenbriar.com for more details.

For further information call:  Robert Matheson
  Glenbriar Technologies Inc.
  +1 (403) 450-7410
   

The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond Glenbriar's control. Some of these risks and uncertainties may be described in Glenbriar's corporate filings (posted at www.sedar.com). Glenbriar has no intention or obligation to update or revise any forward looking statements due to new information or events.

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