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Article Excerpt
M2 PRESSWIRE-31 May 2004-Cybersurf Corp.: Cybersurf Corp. announces results for three months ended March 31, 2004(C)1994-2004 M2 COMMUNICATIONS LTD
RDATE:05282004
Calgary, Alberta CANADA /FSC/ - Cybersurf Corp. (CY - TSX Venture), ("Cybersurf") one of Canada's leading Internet technology and service companies, today reported financial results for the three-month interim period ended March 31, 2004, being the third quarter of Cybersurf's fiscal year 2004.
During this period, Cybersurf continued to roll out its broadband services in Eastern Canada, adding subscribers to its large dial-up subscription base and further realizing synergies and cost efficiencies between the parent company, Cybersurf Corp., and its wholly-owned subsidiaries, Comnet Corporation, Cybersurf Technologies Corp., and 3web Corp.
The Corporation's net loss of $300,692 was a reduction of $806,290 (73%) over the third quarter of the previous fiscal year. Included in this loss, however, is an accrual for costs arising from an Ontario and B.C. court-approved class action settlement. Cybersurf's Board and Management are satisfied that this settlement avoids greater...
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