Glenbriar Reports 2015 Q3 Results

Calgary, Alberta--(Newsfile Corp. - August 31, 2015) - Glenbriar Technologies Inc. (CSE:GTI) today released its unaudited financial results for the 9 months ended June 30, 2015:

Glenbriar Technologies Inc. 9 months ended June 30 
   2015  2014  
Revenue $3,233,679 $4,560,923  
Gross profit  903,561  1,321,191  
Income from operations  (54,213) 441,483  
Net income and comprehensive income  (87,385) 416,686  
Net income per share (basic and diluted) $ 0.00 $ 0.01  
Average Common Shares (basic and diluted)  48,421,510  48,421,510  

Glenbriar went live with its updated back office applications in June 2015. These new tools automate Glenbriar's business workflow through its entire cycle, from sales process through invoicing and monitoring.

This project has been rolled out in parallel with our new Cloud data centre infrastructure to completely redefine how we do business and what products and services we offer to end users. The process will continue to be tweaked and optimized for the rest of this fiscal year.

Net income decreased to $(87,385) for the 9 months ended June 30, 2015 from the similar 2014 period due to reduced revenue. These changes reflect shifting of resources from traditional break-fix clients into construction and commissioning of our new Cloud data centre, as well as reduced economic activity in Alberta.

About Glenbriar
Glenbriar Technologies Inc. (CSE: GTI) is a provider of innovative Cloud-enabled business technology solutions. From its offices in Calgary, Vancouver and Waterloo, Glenbriar delivers solutions that include IT Services, Cloud Services, Portals & Collaboration, Unified Communications and Software Services. See www.glenbriar.com for more details.

For further information call:Robert Matheson
  Glenbriar Technologies Inc.
  +1 (403) 450-7410
  
  

The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond Glenbriar's control. Some of these risks and uncertainties may be described in Glenbriar's corporate filings (posted at www.sedar.com). Glenbriar has no intention or obligation to update or revise any forward looking statements due to new information or events.

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