Online Advertising Revenue More than Triples Year-Over-Year
TORONTO, Wednesday, May 7, 2008/CNW/-Cyberplex Inc. (TSX: CX) a leader in web advertising solutions, online customer acquisition strategies and technology development, today announced its financial results for the first quarter ended March 31, 2008.

Highlights

• Revenue of $7.9 million increases 160% from the previous year
• Earnings before amortization, interest and other items increased by approximately $375,000 to $221,000
• Positive net income of $52,000
• In February 2008, the Company closed a $5.0 million private placement

"By any measure, this was a blow out quarter,” said Geoffrey Rotstein, Chief Executive Officer of Cyberplex.  “Revenue from our performance-based online advertising division set a new record and together with the technology services division, the company generated positive net income.  Despite the general market conditions, we continue to see rapid growth while delivering value to all of our clients.”
Operational Results:
For the quarter ended March 31, 2008, the Company generated revenue of $7.9 million, an increase of $4.9 million or 160% when compared to the $3.0 million generated in 2007.  This increase resulted directly from our online advertising division, which generated $6.5 million in revenue resulting in a year-over-year revenue growth of 221%.  Revenue generated from the technology services division increased 40%, totaling $1.4 million in the first quarter of 2008 as compared to $1.0 million in 2007.
Gross profit for the quarter ended March 31, 2008 was $2.6 million resulting in a gross margin of 32% compared to $1.1 million or 36% for the same period last year.  During the quarter, the Company implemented diverse revenue models and executed new initiatives to build and strengthen the network.  Moving forward, the Company expects margins to trend upward as some of these programs gain traction and more value is delivered to advertisers and publishers.  Earnings before amortization, interest and other items was $221,000 as compared to a loss of $153,000 incurred in the first quarter of 2007 and the net income of $52,000 is the first positive quarter of net income for the Company since 2004. 
In February 2008, the Company closed a $5.0 million private placement resulting in the issuance of 8,333,334 common shares of the Company.  Various members of the Board of Directors and employees of the Company participated in the private placement purchasing a total of 833,333 common shares.  This private placement helped strengthen the balance sheet and enabled the Company to continue its path of aggressive growth.

“With the results that we delivered in the first quarter in 2008, we are confident in our ability to achieve aggressive growth and profitability during the remainder of 2008,” concluded Geoffrey Rotstein.
Conference Call Details:
In conjunction with this announcement, Cyberplex will host a conference call Thursday, May 8, 2008 at 10:00am EST to discuss the results and the financial performance.  To access the call, please dial 888-892-3255. Please call five minutes prior to the call.

A replay of the conference call will be available as of 12:00 p.m. the same day, until midnight May 15, 2008. To access the replay dial 1-800-937-6305 followed by the passcode 281442.
About Cyberplex

Cyberplex Inc. (www.cyberplex.com) is a leader in providing web advertising solutions and online customer acquisition strategies, as well as application expertise, to its clients. 

The Company, through its subsidiaries, has developed a proprietary affiliate network which combined with advertising relationships and teams of technology consultants and design, usability and solutions specialists, assist customers with all aspects of their web-based programs as they design, develop and promote solutions that deliver results. 

With over 14 years of experience serving Fortune 1000 clients including FTD, Xerox, Sony Canada, IAC, Atlantic Lottery Corporation, Vista Print, Aecon, Ontario Power Generation, Scotia Bank and the Royal Bank of Canada.  Cyberplex is frequently the firm of choice for business leaders looking for reliable solutions.  Cyberplex serves clients across Canada and the US, and is headquartered in Toronto, Canada with offices in San Diego and Halifax.

Forward-Looking Statements
This news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements.  Cyberplex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

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For more information please contact
Susie Ibbotson, Media Relations, Cyberplex
416-260-4763
1-888-597-8889 ext. 4763
susie.ibbotson@cyberplex.com