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180 Connect Inc. (1323639) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2007

180 Connect Inc.

CIK: 1323639
 

Exhibit 99.1
Stock Symbols: OTCBB: CNCT.OB, CNCTU.OB, CNCTW.OB
November 13, 2007
 
180 CONNECT INC. ANNOUNCES THIRD QUARTER 2007 RESULTS
Revenue increases to a record $102 million, representing a 14% increase from the prior year
Completion of merger with Ad. Venture Partners, Inc. significantly de-leverages balance sheet
 
Toronto, Ontario and Englewood, CO — November 13, 2007 — 180 Connect Inc. (“180 Connect” or the “Company”) (OTCBB: CNCT.OB, CNCTU.OB, CNCTW.OB), one of North America’s largest providers of installation, integration and fulfillment services to the home entertainment, communication, and home integration service industries, today released its financial results for the third quarter ended September 30, 2007.
Certain information contained in this news release constitutes forward-looking information, including anticipated growth and financial performance. See “Forward-Looking Information”.
Selected Financial Highlights — Third Quarter Ended September 30, 2007
For the three months ended September 30, 2007 as compared to the three months ended September 30, 2006:
Third Quarter Highlights
    Revenue grew to $102.5 million, an increase of $12.6 million, or 14.0%, compared to revenue of $89.9 million in 2006.
 
    EBITDA from continuing operations(2) was $8.4 million, an increase of $1.9 million or 30% compared to $6.5 million in 2006.
 
    Total cash provided by operating activities was $0.8 million, an increase of $7.1 million from the cash used by operating activities of $6.3 million in 2006.
 
    Loss from continuing operations was $8.8 million, a decrease of $13.8 million compared to income from continuing operations of $5.0 million in 2006.
 
    Net loss was $8.8 million, a decrease of $13.3 million compared to net income of $4.5 million in 2006.
 
    Net income (loss) per share is as follows:
    Net income (loss) from continuing operations was a loss of $(0.43) per share basic and diluted, respectively, compared to net income from continuing operations of $0.34 and $0.32 per share basic and diluted, respectively in 2006.

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The following information was filed by 180 Connect Inc. on Tuesday, November 13, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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180 Connect Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2007 10-K Annual Report includes:

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SEC Filing Tools
CIK: 1323639
Form Type: 10-Q Quarterly Report
Accession Number: 0000950144-07-010449
Submitted to the SEC: Wed Nov 14 2007 3:36:31 PM EST
Accepted by the SEC: Wed Nov 14 2007
Period: Sunday, September 30, 2007
Industry: Electrical Work

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