Maximizer Software announces increased revenues for first quarter 2008

Maximizer Software a leading provider of simple, accessible customer relationship management solutions for small to medium-sized businesses announced financial results for its first quarter ended February 29, 2008. All results are reported in US dollars.

For the first quarter of 2008:

  • The Company's total revenues increased 10% to US$4.4 million compared to US$4.0 million in the corresponding quarter of 2007.
  • Operating expenses and cost of sales were US$4.7 million compared to US$4.1 million in the corresponding quarter of 2007.
  • Other expenses were US$0.1 million, the same as the corresponding quarter of 2007.
  • Net loss under generally accepted accounting principles (GAAP) was US$0.3 million compared to net loss of US$0.2 million in the corresponding quarter of 2007.

"I'm pleased to report that the Company achieved 10 percent revenue growth this first quarter compared to the first quarter last year," said John Caputo, President, Maximizer Software. "In addition, the successful launch of our Entrepreneur Edition in February 2008 completes our product line of Maximizer CRM 10 solutions and continues to provide our customers with valuable solutions that help them grow their businesses."

HIGHLIGHTS

In the first quarter of 2008, Maximizer Software's progress on its four corporate objectives of increasing revenue, increasing profitability, expanding the customer base, and increasing brand recognition was as follows:

Increasing Revenue

Maximizer Software recorded revenues of US$4.4 million, compared to US$4.0 million in the corresponding quarter of 2007. The breakdown by region was as follows:

  • The Americas region recorded revenues of US$2.8 million in the first quarter of 2008 compared to US$2.4 million in the corresponding quarter of 2007.
  • The EMEA region recorded revenues of US$0.9 million in the first quarter of 2008 compared to US$1.1 million in the corresponding quarter of 2007.
  • The Asia Pacific region recorded revenues of US$0.8 million in the first quarter of 2008 compared to US$0.6 million in the corresponding quarter of 2007.

Increasing Profitability

The Company recorded a net loss of US$0.3 million in the first quarter of 2008 compared to a net loss of US$0.2 million in the corresponding quarter of 2007. The breakdown by region was as follows:

  • The Americas region recorded net income of US$0.1 million in the first quarter of 2008, the same as the corresponding quarter of 2007.
  • The EMEA region recorded a net loss of US$0.1 million in the first quarter of 2008 compared to net income of a nominal amount in the corresponding quarter of 2007.
  • The Asia Pacific region recorded a net loss of US$0.3 million in the first quarter of 2008, consistent with the corresponding quarter of 2007.

"Maximizer Software's accounts receivable increased as at February 29, 2008 compared to February 28, 2007 due to success of Maximizer CRM 10 released in November 2007," said Kam Sandhu, Vice President Finance and Administration. "Working capital decreased during the same period due primarily to an increase in deferred revenue from the continuous growth in the Company's annual maintenance program."

Expanding Customer Base

Throughout the first quarter of 2008, Maximizer Software continued to increase sales of the Maximizer CRM 10 product lines.

In the first quarter of 2008, over 100 existing customers purchased or upgraded more than 860 licenses of 'Maximizer Enterprise'. In addition, over 140 new and over 280 existing customers purchased or upgraded more than 2,400 seats of the latest version, 'Maximizer CRM 10' and over 8,900 seats were shipped to customers under the Company's highly successful maintenance program.

Also in the first quarter of 2008, over 230 new and over 220 existing customers purchased more than 800 licenses of 'Maximizer'. In addition, over 200 new and over 940 existing customers purchased more than 2,100 licenses of the latest version, 'Maximizer CRM 10 Entrepreneur Edition'.

In total, Maximizer Software shipped more than 13,500 licenses of Maximizer CRM 10 during the first quarter of 2008.

The Company's new customers span a variety of industries in each of Maximizer Software's three primary geographic regions, the Americas, EMEA and Asia Pacific.

New customers include:

  • AmeraScope Media
  • ARM Investment Managers
  • Creative Business Interiors
  • CSS Computer Finance
  • Great Northern Insulation
  • Guest-Tek Services
  • Immobilsarda
  • Micro Solutions
  • Owl Distribution Inc
  • SecureData
  • Strongs Marine
  • Total Wall
  • Wealth Management Group
  • ViaQuest
  • WTH Technology

Increasing Brand Recognition

In the first quarter of 2008, Maximizer Software continued to raise its level of brand awareness through successful marketing and media relations.

In February 2008, Maximizer Software announced the availability of its Entrepreneur Edition, which replaces 'Maximizer' contact manager - completing the Editions under the Maximizer CRM 10 brand. Entrepreneur Edition gives start-ups and individual professionals an out-of-box, full-featured contact management solution that is simple, accessible and provides the best value to help them grow their business. Positive commentary on the launch included articles in IT Business Canada, Small Business Computing, CRM Magazine, Inside CRM, among others.

In January 2008, Executive Vice President of Technology, William Anderson was named as one of Inside CRM's Top 25 CRM Influencers for 2007 for his role in leading the product development team to launch Maximizer CRM 10. According to Inside CRM, "Anderson has devoted much of his energy to developing products for and advocating on behalf of SMBs, and he backed that up by enabling BlackBerry® access in the latest iteration of the software (Maximizer CRM 10), giving the little guys the same mobile reach as their larger competitors."

Date - 17/04/2008

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