November 17, 2009
FARMINGDALE, NY (August 13. 2009) – Juma Technology Corp. (OTC: JUMT), a leading IP Convergence firm specializing in managed services, today reported financial results for the quarter ended September 30, 2009.
Third Quarter 2009 Highlights
- Research and development expenses decreased 75% over Q3 2008- General and administrative expenses decreased 47% over Q3 2008- Selling expenses decreased 17% over Q3 2008 - Q3 2009 Revenue $1,896,250Operating Results Revenues for the three months ended September 30, 2009 decreased $3,929,059 or 67% to $1,896,250, compared with revenues of $5,825,309 for the three months ended September 30, 2008. Cost of goods sold for the three months ended September 30, 2009 decreased $2,961,135 or 75% to $1,004,817, compared to $3,965,952 for the three months ended September 30, 2008. The Company incurred a net loss of $2,751,311 for the three months ended September 30, 2009 compared to a net loss of $2,712,221 for the comparable period in 2008.”Our company is not immune to the economic storm that has wrecked havoc on the marketplace, but we are certainly weathering the storm and continuing to build a solid foundation for future growth,” said Anthony M. Servidio, Chief Executive Officer for Juma. “The silver lining is our future potential, and it is significant. We continue to sign on reseller partners for our Nectar services, which will grow our monthly recurring revenue stream and enable us to execute on our business plans. That’s our focus. That’s our goal. And that is what will drive our company to new sales, additional revenue and business success,” said Servidio.Anthony Fernandez, Chief Financial Officer for Juma added, “We are steadfast in our commitment to improving operational efficiencies and reducing expenses while we live through this poor economy and plan to capitalize on what we believe will be a market rebound in the near future.”
About Juma (www.jumacorp.com) Juma Technology Corp. provides advanced IP Convergence solutions that integrate voice, data and video applications. Juma’s IP Convergence solutions enable companies to increase productivity, enhance mobility and create significant cost savings. Juma has been recognized as an industry leader in providing integrated business communications and services, helping customers leverage network convergence to achieve their business goals. Nectar Services Corp., an IP communications and management services provider, is a wholly owned subsidiary of Juma and represents the company’s services division. The Nectar suite of services delivers real business solutions to help companies mitigate risk, centralize systems management and dramatically reduce telecom expenses. Follow us on Twitter: www.twitter.com/jumatech.
Forward-Looking StatementsHistorical results and trends should not be taken as indicative of future operations. Management’s statements contained in this report that are not historical facts may be forward-looking statements under the Private Securities Litigation Act of 1995. Actual results may differ materially from those included in the forward-looking statements. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” “prospects,” or similar expressions. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse affect on the operations and future prospects of the Company on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, significant restructuring and acquisition activities, and generally accepted accounting principles. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Further information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included herein and in the Company’s other filings with the SEC.
