(NewsDirect)
Nerds On Site Inc.(CSE: NERD) (OTCQB: NOSUF) (“Nerds” or the “Company”), amobile IT solutions company servicing Small- and Medium-SizedEnterprise (SME) marketplaces in Canada and the USA, today announcedits financial results for the fiscal year 2021, ended May 31,highlighted by a stable revenue of $10,121,480. All amounts expressedare in Canadian dollars.
2021Financial Highlights:
- Total Revenue of $10,121,480 as compared to$10,143,336 for the year ended May 31, 2020
- Gross Profit of$2,627,954 as compared to $2,639,410 for the year ended May 31, 2020,maintaining a gross margin of 26%
- Cash used in operatingactivities was ($289,860) for the year ended May 31, 2021, compared to($1,605,328) for the year ended May 31, 2020, reflecting animprovement in cash used in operations of $1,315,468.
- Netloss for the year ended May 31, 2021, was ($1,387,768) as compared to($2,034,711) for the year ended May 31, 2020, a decrease of $646,943or 32%. This is in line with the Company’s cost-reductionstrategy
Full details of the Company’s 2021 financial results can befound in the Audited Consolidated Financial Statements andManagement’s Discussion and Analysis (MD&A) for the year endedMay 31, 2021, both of which are available at www.sedar.com .
2021 StrategicPartnership with Staples Canada:
OnMarch 1, 2021, Staples Canada (“Staples”) and Nerds On Site Inc.announced an exclusive partnership to launch Nerds On Site forBusiness, that will support small business customers with IT and cybersecurity services as they continue to navigate the new way of working.A trusted provider in the managed IT and cyber security space, NerdsOn Site for Business can help SMEs across Canada with remote andonsite solutions for everything from setting up a company'sworkforce to work from anywhere to managing an entire IT network. Withdata, cyber security, and managed IT services in demand more than everbefore, one of the key services that Nerds On Site for Business willprovide to SME customers is a no-commitment, no-obligation cybersecurity assessment scorecard of their business, with custom solutionsto combat any findings. Properly managing and protecting businesssystems has become a pivotal step to remain secure in theever-evolving digital world.
Charlie Regan, CEO of Nerds On Site,commented : “The COVID-19 pandemic has established anunprecedented environment for business, particularly small- andmedium-sized businesses that are the primary customers of Nerds. Weare extremely pleased with having maintained our revenue level whileincreasing our business activities on the online security andtechnology field, that we expect will play a highly-important role inthe new enterprise normal. We are looking forward to ramping up ourbusiness operations and expansion into the US in the upcomingyear.”
Investor Webinar
NERD will host an investor webinar on Wednesday,September 29 at 1:30 pm ET, where CEO Charlie Regan will discussthe 2021 financial results and answer any questions investors mayhave. Investors can join the call by clicking HERE, then enter the passcode: 614624
About Nerds On SiteInc.
NerdsOn Site Inc., a company founded in 1995 in London, Ontario,specializes in providing cost-effective, leading-edge solutions toSmall- and Medium-Sized Enterprises (SMEs), serving as the completeSME IT solution specialist. NERD currently has annual revenues ofapproximately $10,000,000 and growing. The Company services more than12,000 clients per year with a superb 96.5% customer-satisfactionrating (more than 90,000 five-star ratings). NERD’s business modelis based on sub-contracts in Canada and a franchise model for USexpansion. Visit the website to learn more: www.nerdsonsite.com
Forward-Looking Statements
Certain information setforth in this material may contain forward-looking statements thatinvolve substantial known and unknown risks and uncertainties. Allstatements other than statements of historical fact areforward-looking statements, including, without limitation, statementsregarding future financial position, business strategy, use ofproceeds, corporate vision, proposed acquisitions, partnerships, jointventures and strategic alliances and co-operations, budgets, cost andplans and objectives of or involving the Company. Such forward-lookinginformation reflects management's current beliefs and is based oninformation currently available to management. Often, but not always,forward-looking statements can be identified by the use of words suchas "plans", "expects", "is expected","budget", "scheduled", "estimates","forecasts", "predicts", "intends","targets", "aims", "anticipates" or"believes" or variations (including negative variations) ofsuch words and phrases or may be identified by statements to theeffect that certain actions "may", "could","should", "would", "might" or "will"be taken, occur or be achieved. A number of known and unknown risks,uncertainties and other factors may cause the actual results orperformance to materially differ from any future results orperformance expressed or implied by the forward-looking information.These forward-looking statements are subject to numerous risks anduncertainties, certain of which are beyond the control of the Companyincluding, but not limited to, the impact of general economicconditions, industry conditions and dependence upon regulatoryapprovals. Readers are cautioned that the assumptions used in thepreparation of such information, although considered reasonable at thetime of preparation, may prove to be imprecise and, as such, unduereliance should not be placed on forward-looking statements. TheCompany does not assume any obligation to update or revise itsforward-looking statements, whether as a result of new information,future events, or otherwise, except as required by securities laws Neither the Canadian Securities Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the CanadianSecurities Exchange) accepts responsibility for the adequacy oraccuracy of this release.
ContactDetails
NERDS ON SITE INC.
Charles Regan,CEO
+1 877-778-2335
CHFCAPITAL MARKETS
Thomas Do
+1 416-868-1079
CompanyWebsite
https://investors.nerdsonsite.com
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