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Maximizer Software Announces Increased Revenues and Profit for the First Quarter of 2005
VANCOUVER, BRITISH COLUMBIA, Apr 14, 2005 (CCNMatthews via COMTEX) --
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, 2005. The Company has once again recorded a profit in the first quarter of 2005 following its two consecutive years of profitability in 2003 and 2004.
For the first quarter of 2005:
- The Company's total revenues increased by 5.7% to $4.2 million compared to $4.0 million in the corresponding quarter of 2004.
- Operating expenses and cost of sales were $4.1 million compared to $4.0 million in the corresponding quarter of 2004.
- Other income/(expense) was $0.1 million compared to $0.1 million in the corresponding quarter of 2004.
- Net income under generally accepted accounting principles (GAAP) was $0.2 million compared to a nominal amount in the corresponding quarter of 2004.
"We are very pleased to report Maximizer Software increased its revenues and profit in the first quarter of 2005 over last year," said John Caputo, Office of the President and Chief Financial Officer. "The small to medium-sized enterprise (SME) market has become the revenue growth segment of choice for many CRM vendors and Maximizer Software, which has focused on this segment since inception, is well positioned to continue to grow our share of this market."
HIGHLIGHTS
In the first quarter of 2005, Maximizer Software continued to execute on its four corporate objectives: increasing revenue, increasing profitability, expanding our customer base, and increasing our brand recognition.
Increasing Revenue
Maximizer Software recorded revenues of $4.2 million, an increase in revenues of $0.2 million or 5.7% from $4.0 million in the corresponding quarter of 2004. The breakdown by region is as follows:
- The Americas region recorded revenues of $2.4 million in the first quarter of 2005 compared to $2.3 million in the corresponding quarter of 2004.
- The EMEA region recorded revenues of $1.0 million in the first quarter of 2005 compared to $0.9 million in the corresponding quarter of 2004.
- The Asia Pacific region recorded revenues of $0.9 million in the first quarter of 2005 compared to $0.8 million in the corresponding quarter of 2004.
Increasing Profitability
The Company achieved net income of $0.2 million in the first quarter of 2005 compared to a nominal amount in the corresponding quarter of 2004. The breakdown by region is as follows:
- The Americas region recorded net income of $0.3 million in the first quarter of 2005 compared to net income of $0.4 million in the corresponding quarter of 2004.
- The EMEA region recorded net income of a nominal amount in the first quarter of 2005 compared to a net loss of $0.1 million in the corresponding quarter of 2004.
- The Asia Pacific region recorded a net loss of $0.2 million in the first quarter of 2005 compared to a net loss of $0.2 the corresponding quarter of 2004.
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 2005, over 150 new and over 400 existing customers purchased or upgraded more than 4,400 seats of 'Maximizer Enterprise'. Of these customers, over 500 purchased more than 3,900 seats of 'Maximizer Enterprise 8', the Company's latest release, which started shipping in February 2004. During this same quarter, over 1,300 companies purchased or upgraded more than 2,300 seats of 'Maximizer 8', the Company's latest release, which started shipping in May 2004.
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:
Abacus Travel; AGCO; APN News & Media; Astra Zeneca; Center for Leadership Studies; Cramer Decker Medical Inc.; DHI Medical Group; Dundee Securities Corporation; FirstPoint Inc.; Gemcom Software; Guamcell; Heritage Pacific Leasing; Manchester Metropolitan University; Novo Technologies; PWL Capital Inc.; Property Vision; Serco Services; Technology Evaluation Centers Inc.
Increasing Brand Recognition
In the first quarter of 2005, Maximizer Software received three significant product awards, which helped increase the Company's brand recognition: 'Maximizer Enterprise 8' won Customer Inter@ction Solutions' "Product of the Year" award and was named a finalist in the SIIA's 20th annual Codie Awards; 'Maximizer 8' was awarded a "Very Good" rating of 8 out of 10 in a CNET review.
Maximizer Software achieved additional brand recognition in the first quarter of 2005 through feature articles and mentions in more than fifteen technology, trade and business publications, including CNET, CRM Guru, Customer Inter@ction Solutions, Sales & Marketing Management magazine, TMCNet, The Vancouver Sun, and VARBusiness. As a result of these articles, Maximizer Software was mentioned to a total potential audience of over seven million people in the first quarter of 2005.
In addition, Maximizer Software received further brand awareness as Tom Bennett, the Company's Office of the President and CTO, was named one of the "Top Innovators in Technology" by VARBusiness magazine, and John Caputo, the Company's Office of the President and CFO, was named to Business In Vancouver magazine's "40 under 40," an annual list of the 40 most successful entrepreneurs in British Columbia under the age of 40.
About Maximizer Software
Maximizer Software Inc. is a leading provider of proven and affordable customer relationship management (CRM) and contact management solutions that help small to medium-sized enterprises improve sales, streamline marketing, and enhance customer service & support. Maximizer Software has helped over 7,000 Maximizer Enterprise(TM) customers and over one million Maximizer(TM) users grow their businesses by building profitable customer relationships with award-winning solutions. Maximizer Software is a worldwide organization with Business Partners and offices in its three regions: Americas, Europe/Middle East/Africa (EMEA), and Asia Pacific. Customers include leading companies such as Siemens, Ipsos-Reid, Nestle Clinical, Ericsson, HSBC, Singapore Airlines, Cathay Pacific, William Mercer, and Bank of New York. Learn more about Maximizer Software at www.maximizer.com.
This release may contain certain forward-looking statements reflecting Maximizer Software Inc.'s current expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including without limitation, changes in market and competition, technological and competitive developments, and potential downturns in economic conditions generally. Additional information on these and other potential factors that could affect the Company's financial results are detailed in documents filed from time to time with the provincial securities commissions in Canada. All trademarks or registered trademarks stated herein are properties of their respective owners.