Business intelligence products for the Corporate Human
Capital Management sector continue to gain traction.
- Revenue of $1,510,548 for the
third quarter of fiscal 2012, a gain of 19.4%, compared to
$1,264,699 in the third quarter of
fiscal 2011.
- Positive EBITDA of $138,882, a
gain of $271,861, compared to a
negative EBITDA of $132,979 in the
third quarter of fiscal 2011.
- Net income of $17,094,
compared to a net loss of $250,729 in
the third quarter of fiscal 2011, a gain of $267,823.
- Gain of 24 percent overall in the recurring revenue base of
$5.7 million in Canadian dollars as
of March 31, 2012, from $4.6 million in the third quarter of fiscal
2011.
QUEBEC CITY,
May 23, 2012 /CNW Telbec/ - WANTED
Technologies (TSXV: WAN), the leading source of business
intelligence for the talent marketplace, reported today a 19
percent increase in revenues and a return to profitability in the
third quarter of fiscal 2012. The Company's annualized recurring
revenue base also increased 24%, reaching $5.7 million in Canadian dollars as of
March 31, 2012. This compares to
$4.6 million one year ago. All
amounts are in Canadian dollars, unless otherwise indicated.
The Company reported $1,510,548 in total revenues for the quarter, a
gain of $245,849 over the prior year.
EBITDA of $138,882 represented a
positive variation of $271,861 over
the prior year.
The Company, which has been investing in product
development over the past 12 months as part of its new entry into
the Corporate Human Capital Management sector, returned to
profitability in the third quarter with a net income of
$17,094 compared to a net loss of
$250,729 in the third quarter of
fiscal 2011, a positive variance of $267,823.
"The strong financial results we saw in Q3 are
the result of a focused, long-term strategic effort to grow
WANTED's business across a diverse set of clients in the
marketplace for talent," said Bruce
Murray, President and CEO. "The investments we made over the
past year to create a new category of business intelligence
products are starting to pay off."
In 2011, WANTED launched a new product platform
designed to give Corporate Human Resource organizations real-time
insight into the supply and demand for talent. These products make
workforce planning, recruiting and competitive intelligence
gathering more efficient.
"The new clients we signed during the quarter
are some of the world's leading global employers," said Murray. "We
are dedicated to helping them make relevant, informed human capital
decisions, based on insight into the market."
Among the clients signed during the quarter are
companies across many business sectors. They include IBM, Intel,
UPS, Liberty Mutual, BP, Phillips and Booz
Allen Hamilton.
As of March 31,
2012, contracts in hand, in Canadian dollars, represented
approximately $5.7 million dollars in
annualized recurring revenues. This compares with contracts in hand
totalling approximately $4.6 million
dollars as of March 31, 2011,
an increase of 24 percent.
WANTED's decision to diversify its client base
beyond Media clients has succeeded in replacing some of the lost
recurring revenue. Gains have come from the Corporate, Staffing and
Government sectors leading to a more stable recurring revenue base.
These three sectors, represented together, at the end of the third
quarter of fiscal 2012, approximately 58% of the total recurring
revenue base compared to 46% a year ago. The Company's partnership
with The Conference Board positively contributed to this
diversification.
|
Three-month periods |
|
Nine-month periods |
|
ended
March 31, |
|
ended
March 31, |
|
2012 |
|
2011 |
|
2012 |
|
2011 |
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
(unaudited) |
|
$ |
|
$ |
|
$ |
|
$ |
Revenues |
1,510,548 |
|
1,264,699 |
|
4,213,524 |
|
3,890,884 |
Cost of
sales |
(132,967) |
|
(143,700) |
|
(363,115) |
|
(470,307) |
Gross
margin |
1,377,581 |
|
1,120,999 |
|
3,850,409 |
|
3,420,577 |
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
|
|
|
|
Research and development, net of
tax credits |
(492,372) |
|
(481,002) |
|
(1,534,708) |
|
(1,308,699) |
|
Marketing and selling |
(551,720) |
|
(548,439) |
|
(1,699,691) |
|
(1,506,216) |
|
Administrative |
(265,621) |
|
(300,207) |
|
(863,671) |
|
(872,849) |
|
Other financial expenses |
(8,024) |
|
(10,483) |
|
(17,750) |
|
(19,397) |
|
Other losses-net |
(183) |
|
|
|
(183) |
|
(2,297) |
|
(1,317,920) |
|
(1,340,131) |
|
(4,116,003) |
|
(3,709,458) |
Operating income
(loss) |
59,661 |
|
(219,132) |
|
(265,594) |
|
(288,881) |
|
|
|
|
|
|
|
|
|
Finance income |
2,452 |
|
2,014 |
|
7,221 |
|
6,602 |
|
Finance costs |
(30,474) |
|
(33,358) |
|
10,107 |
|
(92,537) |
Finance
costs-net |
(28,022) |
|
(31,344) |
|
17,328 |
|
(85,935) |
|
|
|
|
|
|
|
|
Income (loss) before
income taxes |
31,639 |
|
(250,476) |
|
(248,266) |
|
(374,816) |
|
|
|
|
|
|
|
|
Current Income
taxes |
(34,114) |
|
(19,822) |
|
(97,511) |
|
(57,315) |
Deferred Income
taxes |
19,569 |
|
19,569 |
|
58,707 |
|
58,707 |
|
|
|
|
|
|
|
|
Net income (loss) and
comprensive income (loss) |
17,094 |
|
(250,729) |
|
(287,070) |
|
(373,424) |
|
|
|
|
|
|
|
|
Basic and diluted net
income (net loss) per share |
0.001 |
|
(0.010) |
|
(0.012) |
|
(0.016) |
Operating costs went from $1,329,648 in the third quarter of fiscal 2011 to
$1,309,713 for the third quarter of
fiscal 2012, a decrease of almost 2 percent. For the first nine
months of fiscal 2012, operating costs totalled $4,098,070, compared to $3,687,764 for the first nine months of the
previous fiscal year, an increase of $410,306 or 11 percent. The increase in the
nine-month period mostly results from increases in research and
development and in marketing and selling expenses.
EBITDA for the third quarter of fiscal 2012
totalled $138,882, up $271,861 from a negative EBITDA of $132,979 for the third quarter of fiscal 2011.
For the first nine months of fiscal 2012, EBITDA totalled
$71,190, an increase of $120,332 over last year. EBITDA represents the
net income before finance costs-net (excluding gain or loss due to
variation in foreign exchange), income taxes on net income, and
amortization and impairment of property, plant and equipment and
intangible assets. As International Financial Reporting Standards
do not provide a standardized definition for this measure, it may
not be comparable to similar measures used by other companies.
Net income for the quarter ended March 31, 2012 amounted to $17,094 (net income of $0.001 per share) compared to a net loss of
$250,729 (loss of $0.010 per share) for the corresponding quarter
of the previous year, a positive variation of $267,823.
For the first nine months of fiscal 2012, the
net loss was $287,070, compared to a
net loss of $373,424 for the first
nine months of the previous fiscal year, a positive variation of
$ 86,354.
Financial position
As of March 31,
2012, WANTED had a cash position (cash and investments) of
$1,517,857 and a working capital of
$1,065,507. This compares with a cash
position of $1,426,715 and a working
capital of $1,183,931 as at
June 30, 2011, representing an
increase of $91,142 in the cash
position and a decrease of $118,424
in the working capital. The increase of $91,142 in the Company's liquidity is mainly the
result of positive cash flows of $216,444 generated by the operating activities,
partially offset by negative cash flows of $23,385 and $104,938 from investing and financing activities
respectively.
Total assets stood at $5,959,927 at March 31,
2012, down $195,838 from
$6,155,765 at June 30, 2011. The total assets variance is
mainly due to decreases of $92,133 in
property, plant and equipment and $122,310 in intangible assets, offset by an
increase of $18,605 in current
assets.
Those interested will be able to access the
information on the March 31, 2012
unaudited interim consolidated financial statements, the notes
thereto and the management discussion and analysis via the Internet
at www.sedar.com and at the Company's website, www.wantedtech.com,
as of Wednesday, May 23rd,
2012.
About WANTED Analytics™
WANTED Analytics™ helps recruiting
organizations make better decisions faster with real-time business
intelligence on jobs, employers, and talent. Analytics™
brings together, for the first time, years of hiring demand and
talent supply data to create a true talent intelligence platform
for hard-to-fill positions.
Clients in the staffing, HR, RPO, media, and
government sectors use WANTED Analytics™ to find sales
leads, analyze employment trends, gather competitive intelligence,
forecast economic conditions, and source hard-to-fill
positions.
About WANTED Technologies Corporation
WANTED Technologies (TSX-V:WAN) provides
real-time business intelligence for the talent marketplace. Founded
in 1999, the Company's headquarters are in Quebec City, Canada, and it maintains a
US-based subsidiary with primary offices in New York City. WANTED began collecting
detailed Hiring Demand data in June
2005, and currently maintains a database of more than 600
million unique job listings. For more information or to sample
WANTED's services, visit www.wantedanalytics.com.
WANTED is also the exclusive data provider for
The Conference Board's Help Wanted OnLine Data Series®, the monthly
economic indicator of Hiring Demand in the United States.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release. Any
statement that appears prospective shall not be interpreted as
such.
SOURCE WANTED TECHNOLOGIES CORP.