Guest-Tek Interactive Entertainment Ltd
			Symbol			GTK
			Shares Issued			15,825,852
			Close 2009-11-12			C$ 0.49
			Recent Sedar Documents

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Guest-Tek Interactive loses $540,522 in second quarter

2009-11-13 07:46 ET - News Release

Mr. Arnon Levy reports

GUEST-TEK(TM) ANNOUNCES RESULTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2009

Guest-Tek Interactive Entertainment Ltd. released results today for the three months ended Sept. 30, 2009, the company's second quarter of fiscal 2010. The company has recorded a net loss of $541,000 and recorded a negative adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). Adjusted EBITDA decreased to negative $321,000 in the first quarter of 2010 from $160,000 in the second quarter of 2009. The company's interim consolidated financial statements for the second quarter of fiscal 2010, along with the related notes and management's discussion and analysis can be found on SEDAR.

Arnon Levy commented, "I am very disappointed that we have had our first negative EBITDA quarter in seven quarters, the company is working hard to rectify this in the next quarter."

The company's performance for the three months ended Sept. 30, 2009, showed significant improvement over the three months ended Sept. 30, 2008. Revenue for the second quarter of 2010 was $9.12-million compared with $9.14-million for the second quarter of 2009. In spite of slightly lower revenue, the company saw an increase in gross margin in the second quarter of 2010 compared with the second quarter of 2009 due to a reduced cost of revenue. Operating expenses increased in the second quarter of 2010 compared with the second quarter of 2009. Gross margin as a percentage of sales increased to 41.94 per cent in the second quarter of fiscal 2010 compared with 32.2 per cent in the second quarter of fiscal 2009. Operating expenses increased to $4.66-million in the second quarter of fiscal 2010 compared with $3.43-million in the second quarter of 2009. Net loss decreased to $541,000 for the second quarter of 2010 compared with a net loss of $1.14-million for the second quarter of 2009. Adjusted EBITDA decreased to negative $321,000 in the second quarter of 2010 from $160,000 in the second quarter of 2009.

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