Cyberplex Inc. (TSX : CX), one of North America's leading technology solutions firms, today announced financial results for its first quarter ended March 31, 2005.

Revenue for the first quarter was $2.26 million, consistent with the $2.29 million in the previous quarter, and up from the $2.20 million recorded during the same period a year ago. 

Earnings before amortization and interest income of $299,000 were positive for the tenth consecutive quarter.  While this was down from the $361,000 generated last quarter and the $466,000 realized during the same period a year ago, it is in line with the Company's expectations as we invest in the growth of our emerging application management business.  The Company posted positive net income for the eighth consecutive quarter of $255,000, or $0.01 per share. 

Gross margin for the quarter was 50% and the Company's top 5 clients accounted for approximately 70% of the quarterly revenue with 53% of the revenue derived from clients in the United States.  Cyberplex ended the quarter with over $5 million in cash and its DSO's were at 84 days.

Application management is a rapidly growing sector that addresses the difficulty that many organizations have with ensuring that their application portfolios are properly monitored and maintained.  Outsourcing an entire application has proven ineffective, and as a result companies are looking for alternatives.  "We are excited to be providing a solution to this growing problem and are encouraged by the customer response.  We believe that the recurring nature of the revenue is an excellent compliment to our professional services base", said Dean Hopkins, Chief Executive Officer of Cyberplex.   

"After a strong year in 2004 and a good start to 2005, we are excited about the opportunities that lie ahead." said Geoffrey Rotstein, Chief Financial Officer of Cyberplex.  "As we continue to enhance our business model and invest in our marketing and brand recognition efforts, we will continue to seek out value creating acquisitions to help expand our value proposition."

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For more information please contact
Investor Relations, Cyberplex
416-597-8889
1-888-597-8889
investor@cyberplex.com