MONTREAL, Nov. 29 /PRNewswire-FirstCall/ - Aptilon
Corporation ("Aptilon" or the "Company") (TSX-V: APZ), a leader in
online marketing to physicians and healthcare professionals, today
announced its financial results for the nine months ended
September 30, 2010. Financial
references are in CDN dollars unless otherwise indicated. Complete
financial statements and MD&A are available on SEDAR at
www.sedar.com.
Q3 2010 Summary
- Revenues reached $8.52 million,
compared to $3.72 million in Q3 2009;
YTD revenue $24.8 million
- Gross margin of $5.21
million compared to $2.34
million in Q3 2009; YTD gross margin $14.9 million
- Operating income of $0.61 million
reversed an operating loss of ($0.27
million) in Q3 2009 and YTD operating income totaled
$2.55 million compared to a loss of
($1.17 million) in 2009
- Net income of $65,418 for the
quarter compared to a loss of ($613,760) in Q3 2009 and YTD net loss of
($184,039) compared to a loss of
($1,528,389) in 2009
- Generated positive net cash flow from operations of
$1.18 million for the third quarter
of 2010 and $4.37 million YTD (before
net change in non cash working capital items of ($0.95 million) and $4.9
million respectively.)
Financial Review
For the third quarter of 2010, revenues
increased 129% to $8,518,849 compared
to $3,719,750 for the same period a
year ago. Revenues for the first nine months of 2010 totaled
$24,779,708 compared to $9,597,386 for the first nine months of 2009, an
increase of 158%. Revenue in the period reflects a broader base of
customers, growth in the size of enterprise customer initiatives
and contribution from the assets purchased ("DMD") in fiscal
2009.
Gross margin for the three-month period ended
September 30, 2010 was $5,210,865 compared to $2,342,169 for the three months ended
September 30, 2009, an increase of
$2,868,696 or 122%.
Operating income for the three months ended
September 30, 2010 reached
$612,582 reversing an operating loss
of ($275,282) for the comparable
period a year ago. For the nine-month period ended September 30 2010, the operating income reached
$2,549,569 reversing an operating
loss of ($1,173,172) for the same
period in 2009.
Net income for the three months ended
September 30, 2010 was $65,418 or $0.0003
per share compared to a net loss of ($613,760) or ($0.00376) per share for the comparable period a
year ago.
Sales and marketing expenses for the third
quarter of 2010 totaled $2,014,045
compared to $1,259,905 for the third
quarter of 2009. General and administrative ("G&A") expenses
for the third quarter of 2010 increased to $1,477,335 compared to $724,927 in the third quarter of 2009. Increases
in expenditures were primarily driven by the integration of DMD and
non-recurrent charges for legal fees.
In the third quarter ended September 30, 2010, the Company generated
positive cash-flow from operations of $1,179,725, before net change in non cash working
capital item of ($946,328). In the
year prior period, cash flows used in operating activities totaled
($28,202), before net change in non
cash working capital items of $63,231.
As at September 30,
2010, the Company's working capital position included the
short-term portion of a promissory note payable in connection to
the DMD acquisition completed in 2009. Working capital totaled
($1,309,340) including cash and cash
equivalents and restricted cash of $2,515,879 compared to ($3,501,970) in working capital, which included
cash and cash equivalents and restricted cash of $2,056,741, at December
31, 2009.
The Company had 211,288,365 common shares
outstanding (fully diluted) at September 30,
2010.
AxcelRxSM and ReachNetSM
are service marks of Aptilon Corporation.
About Aptilon Corporation
Aptilon enables pharmaceutical, biotech and medical device
companies to effectively reach, advertise to and interact with more
than 500,000 US physicians via the Internet through its innovative
AxcelRxSM service offering including video detailing,
ReachNetSM Physician Access Channel and the DMD database
and permission-based email services. Top ten US pharmaceutical
companies and respected healthcare organizations have adopted
Aptilon's solutions to market to and engage leading physicians. For
more information, visit www.aptilon.com.
Forward-looking statements
This news release contains forward-looking information. These
statements relate to future events or future performance and
reflect management's current expectations and assumptions. Such
forward-looking statements reflect management's current beliefs and
are based on information currently available to management of
Aptilon. A number of factors could cause actual events, performance
or results to differ materially from the events performance and
results discussed in the forward-looking statements. These
forward-looking statements are made as of the date hereof and
Aptilon does not assume any obligation to update or revise them to
reflect new events or circumstances.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Aptilon Corporation
Copyright . 29 PR Newswire
