Glenbriar Reports 2015 Q2 Results

May 15, 2015 2:01 PM EDT | Source: Glenbriar Technologies Inc.

Calgary, Alberta--(Newsfile Corp. - May 15, 2015) - Glenbriar Technologies Inc. (CSE:GTI) today released its unaudited financial results for the 6 months ended March 31, 2015:

Glenbriar Technologies Inc.

6 months ended March 31

2015

2014

Revenue

$2,231,513

$3,100,560

Gross profit

642,635

931,826

Income from operations

15,826

363,654

Net income and comprehensive income

(3,656)

349,164

Net income per share (basic and diluted)

        $ 0.01

$ 0.01

Average Common Shares (basic and diluted)

48,421,510

48,421,510

   

Glenbriar began updating its entire suite of back office applications in October 2014. This project is now approaching completion as the final modules go live in May and June 2015. These new tools automate Glenbriar's business workflow through its entire cycle, from sales process through invoicing and monitoring.

This project has been rolled out in parallel with our new Cloud data centre infrastructure to completely redefine how we do business and what products and services we offer to end users. The process will continue to be tweaked and optimized for the rest of this fiscal year.

Net income decreased to $(3,656) for the 6 months ended March 31, 2015 from the similar 2014 period due to reduced revenue. These changes reflect shifting of resources from traditional break-fix clients into construction and commissioning of our new Cloud data centre, as well as reduced economic activity in Alberta.

About Glenbriar
Glenbriar Technologies Inc. (CSE: GTI) is a provider of innovative Cloud-enabled business technology solutions.  From its offices in Calgary, Vancouver and Waterloo, Glenbriar delivers solutions that include IT Services, Cloud Services, Portals & Collaboration, Unified Communications 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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