ST. ALBERT, ALBERTA--(Marketwire - March 19, 2013) - Enterprise Group, Inc. (News - Market indicators) is pleased to announce the Company's fourth quarter results, and its sixth consecutive quarter of profitability. The Company recorded a consolidated net income from operations of $1.4 million for the three months ended December 31, 2012, compared to $0.9 million for the three months ended December 31, 2011, an increase of 56%. Revenue was $6.6 million for the three months ended December 31, 2012, compared to $6.2 million for the same period in the prior year, an increase of 6.5% and EBITDAS increased by 60.1% to $2.0 million compared to $1.3 million for the fourth quarter of 2011.

NOTE: Changes in percentage are representative of whole unrounded numbers

President and CEO of Enterprise, Leonard Jaroszuk is also very pleased to announce the appointment of Doug Bachman to the position of Chief Operating Officer. Doug brings in excess of 25 years experience of Corporate Finance and Management from a major financial institution. This experience has provided him with extensive knowledge in credit, team building and leadership. During his financial career Doug has attained numerous top performance and achievement awards across Canada.

Doug has gained valuable experience and insight in H/R consulting, marketing, strategic planning and business planning, along with experience in corporate credit and investment strategies. Over the past number of years, Doug has been actively involved in continuous improvement and has had the opportunity to impact quality management by initiating ISO 9001 quality standards.

Mr. Jaroszuk welcomes Mr. Bachman and looks forward to the expertise in finance and strategic integration that he brings to Enterprise. 

The Company's annual yearend audit is currently under way however it has not yet been completed. The financial figures presented in this release are reported in Canadian dollars, have been prepared in accordance with International Financial Reporting Standards and are subject to audit verification and adjustments. The Company expects to release its audited consolidated yearend financial statements and MD&A no later than March 28, 2012. 

(1) EBITDAS = Earnings Before Interest, Tax, Depreciation, Amortization and Stock Based Compensation 

Forward Looking Information

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company's future performance. The use of any of the words "could", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, statements with respect to the completion of the proposed acquisition, the terms and conditions of the transaction, the completion of an asset-based debt financing and financial information relating to the private company include forward-looking information. The proposed acquisition may not be completed on the terms and conditions contemplated herein or at all. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

Non-GAAP Measures

This news release contains references to EBITDA. The Company uses accounting principles that are generally accepted in Canada (the issuer's "GAAP"), which includes without limitation, International Financial Reporting Standards ("IFRS"). EBITDA is not a measure that has any standardized meaning prescribed by IFRS and is therefore referred to as a non-GAAP measure. This non-GAAP measure used by the Company may not be comparable to a similar measure used by other companies. Management believes that in addition to net income, EBITDA is a useful supplemental measure as it provides an indication of the results generated by the Company's principal business activities prior to consideration of how those activities are financed or how the results are taxed. EBITDA is calculated as net income excluding depreciation, amortization, interest and taxes.