Maximizer Software Announces Increased Revenues for the First Quarter of 2006
Maximizer April 15th, 2007VANCOUVER , BRITISH COLUMBIA – April 13, 2006 – Maximizer Software Inc. (TSX: MAX), a leading provider of proven and affordable customer relationship management (CRM) and contact management solutions, today announced financial results for its first quarter ended February 28, 2006. The Company has once again recorded a profit in the first quarter of 2006 – building on its three consecutive years of profitability in 2003, 2004 and 2005.
For the first quarter of 2006:
The Company’s total revenues increased to $4.3 million compared to $4.2 million in the corresponding quarter of 2005.
Operating expenses and cost of sales were $4.2 million compared to $4.1 million in the corresponding quarter of 2005.
Other expenses were $0.1 million compared to other income of $0.1 million in the corresponding quarter of 2005.
Net income under generally accepted accounting principles (GAAP) was $0.04 million compared to a $0.2 million in the corresponding quarter of 2005.
“We are pleased to report that Maximizer Software increased its revenues in the first quarter of 2006 over the same period last year,†said John Caputo, Office of the President and Chief Financial Officer. “The small to medium-sized enterprise (SME) market continues to outpace the enterprise segment in information technology spending growth. Maximizer Software, which has focused its product development, customer services and sales and marketing efforts on this segment for more than 10 years, remains well-positioned to expand its share of this attractive market in 2006.â€
HIGHLIGHTS
In the first quarter of 2006, Maximizer Software continued to execute on its four corporate objectives: increasing revenue, increasing profitability, expanding the customer base, and increasing brand recognition.
Increasing Revenue
Maximizer Software recorded revenues of $4.3 million, an increase in revenues of $0.1 million or 3.2% from $4.2 million in the corresponding quarter of 2005. The breakdown by region is as follows:
The Americas region recorded revenues of $2.6 million in the first quarter of 2006 compared to $2.4 million in the corresponding quarter of 2005.
The EMEA region recorded revenues of $1.0 million in the first quarter of 2006 compared to $1.0 million in the corresponding quarter of 2005.
The Asia Pacific region recorded revenues of $0.7 million in the first quarter of 2006 compared to $0.9 million in the corresponding quarter of 2005.
Increasing Profitability
The Company achieved net income of $0.04 million in the first quarter of 2006 compared to $0.2 million in the corresponding quarter of 2005. The breakdown by region is as follows:
The Americas region recorded net income of $0.2 million in the first quarter of 2006 compared to net income of $0.3 million in the corresponding quarter of 2005.
The EMEA region recorded net income of a nominal amount in the first quarter of 2006 compared to a net income of a nominal amount in the corresponding quarter of 2005.
The Asia Pacific region recorded a net loss of $0.2 million in the first quarter of 2006 compared to a net loss of $0.2 million in the corresponding quarter of 2005.
Expanding Customer Base
Maximizer Software continued to deliver on its ‘Two Brands for Two Markets’ strategy increasing its sales of ‘Maximizer Enterprise’ to the small to medium-sized enterprise (SME) market, and ‘Maximizer’ to the small office/home office (SOHO) market.
In the first quarter of 2006, over 120 new and over 640 existing customers purchased or upgraded more than 8,800 seats of ‘Maximizer Enterprise’. Of these customers, over 660 purchased or upgraded more than 7,800 seats of ‘Maximizer Enterprise 9’, the Company’s latest release, which started shipping in November 2005.
During this same quarter, over 2,500 customers purchased or upgraded more than 4,600 seats of ‘Maximizer’. Of these customers, over 2,000 companies purchased or upgraded more than 3,600 seats of ‘Maximizer 9’, the Company’s latest release, which started shipping in February 2006.
The Company’s new customers span a variety of industries in each of Maximizer Software’s three geographic regions, the Americas, EMEA and Asia Pacific:
Agriculture and Agri-Food Canada; Australian Motors; BenQ Mobile CEE GmbH; Diablo Funding Group; Dairy Connection (Pty) Ltd; GE Healthcare; lanelogic; Oman Oil; Pulsar Inc; TigerStop LLC; Times International; Total Mortgage Network; Varshney Capital; Wordcom Incorporated.
Increasing Brand Recognition
In the first quarter of 2006, Maximizer Software continued to raise its level of brand awareness through successful media and analyst relations efforts. During the quarter, Maximizer Enterprise was named a top CRM software package by ISM Strategic Advisors for the fourth consecutive year. The Company’s flagship CRM product was also highlighted as a finalist in the 2006 Software and Information Industry Codie Awards in the “Best Customer Relationship Management Solution†category.
‘The Codie Awards have become a well-respected industry achievement not simply because the products highlighted represent the leading edge of technology vision, but also because these products are proven and are helping leading organizations achieve new levels of operational efficiency and profitability,’ said Ken Wasch, SIIA President. ‘Finalists demonstrate that rare combination of product innovation and old-fashioned customer success. With tremendous competition in the Best Customer Relationship Management category, being named a finalist is a significant achievement for Maximizer Software.’
Also during the quarter, a product review of Maximizer Enterprise 9 by Michael Caton at leading information technology publication eWeek, rated the system strongly against key mid-market competitors SalesLogix and Salesforce.com. The review produced “good†ratings in the “Interoperabilityâ€, “Workflow†and “Ease of Use†testing criteria and “excellent†ratings in the “Customization†and “Reporting†categories. The reviewer, a 10-year veteran of the information technology industry commented, “Maximizer improved on its already solid CRM tool by improving reporting, allowing users to work more efficiently and simplifying advanced configuration.â€
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