Aptilon Announces 2011 Third Quarter Results

MONTREAL, Nov. 29, 2011 /CNW/ - Aptilon Corporation ("Aptilon" or the "Company") (TSX-V: APZ), a leader in online access, engagement and interaction with physicians and healthcare professionals on behalf of pharmaceutical and life sciences companies, today announced its financial results for the three-month period ended September 30, 2011. Financial references are in CDN dollars. Complete financial statements and MD&A are available on SEDAR at www.sedar.com.

Operational Highlights:

  • Increased access to targeted healthcare professionals with the addition of multichannel extension of physician recruiting offering

  • Increased access database to over 1.5 million authenticated physician email addresses making it one of the largest resources available

  • Successfully completed approvals stage following client conversion to its latest multi-channel product line updates and 'cloud' based services

  • Updated the Aptilon platform to permit Meeting Transfer, a key capability that allows sales representatives and presenters to seamlessly escalate a live physician meeting to a trained medical specialist thereby serving both product promotion and medical information needs

  • Initiated rollout of updated Aptilon platform specifically for Apple iPad® that serves to connect in-office physicians and visiting pharmaceutical representatives with remote medical specialists for real-time clinical information sessions

Updates to the Aptilon service platform during the year are designed to bridge the gap between traditional in-office representative sales and online marketing to provide valuable, on-demand multi-channel impact with physicians. Aptilon's solutions may be combined to address several client situations and needs including (i) multi-channel medical and promotional campaigns; (ii) in-office field-rep meetings with remote medical specialists and (iii) remote meetings between sales reps and physicians.

Financial Highlights:

  • Revenues of $5.9 million, compared to $8.5 million in Q3 2010; YTD revenue $19.0 million

  • Gross margin was $3.1 million in the three-month period, compared to $5.2 million in Q3 2010; gross margin YTD reached $10.1 million

  • Operating expenses in the period decreased to $3.2 million from $4.5 million in the third quarter of 2010, a reduction of $1.3 million or 29% in the quarter

  • Net loss of ($0.9 million) for the quarter compared to a loss of ($0.6 million) in Q3 2010; YTD net loss reached ($3.0 million) compared to a net loss of ($0.6 million) in 2010. Net loss for the quarterly period includes $1.1 million of non-cash items ($603,000 for depreciation and amortization, $37,000 for share-based compensation, and $425,000 for accreted interest) compared to a total of $1.6 million for the same period in 2010. YTD non-cash items for 2011 total $3.6 million

The strengthening value of the Canadian dollar against the United States dollar and certain pharmaceutical industry mergers during the preceding periods that caused specific legacy programs to be discontinued coupled with delays in certain client internal legal and regulatory departments linked with new business wins were associated with the decline in revenue during the period.

Operating expenses in the quarter and year-to-date were reduced, more specifically, general and administrative (G&A) expenses were reduced by 36% in the third quarter of 2011 compared to the same quarter in 2010. The Company expects to continue to diligently manage costs and headcount in the fourth quarter of 2011 to further strengthen its financial position.

About Aptilon Corporation

Aptilon enables pharmaceutical, biotech and medical device companies to effectively reach, message, connect and interact with US physicians and healthcare professionals via multiple access channels. Its innovative service offerings provide targeted impressions and interactions through: video and mobile detailing, ReachNet℠ Physician Access Channel, the DMD database and permission-based email services. Top US pharmaceutical companies and respected healthcare organizations have adopted Aptilon's solutions to market to, engage and interact with leading healthcare practitioners. For more information, visit www.aptilon.com.

ReachNetSM is a service mark of Aptilon Corporation, other trademarks are the property of their respective owners.

Forward-looking statements

This news release may contain forward-looking statements. 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

For further information:

Mr. Denis Martineau
President
Aptilon Corporation
1-888-544-8866
investors@aptilon.com
 

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