Serenic announces financial results for first quarter ended May 31, 2008



    EDMONTON, July 25 /CNW/ - Serenic Corporation (the "Company")
(TSX-V:SER), an international software developer and marketer providing
financial software solutions to not-for-profit ("NFP"), educational and
government organizations, announces its financial results for the first
quarter ended May 31, 2008.
    For the three-month period ended May 31, 2008, the Company increased
revenues by 8.1% to $1,973,313 from $1,825,578 during the same three-month
period the year prior. Navigator sales conducted by our partner channel
contributed mostly to the increase, with the remainder coming from higher
software maintenance revenue, and training classes and partially offset by
lower consulting revenue. Gross margin increased by $192,506 or 15.1%, to
$1,467,593, from $1,275,087 same quarter last year, as a result of the higher
sales. A net loss of $550,842 ($0.04 per share) was recorded in the current
quarter, as compared to a loss in the same quarter last year of $294,854
($0.02 per share). These results were primarily due to the Company having
increased operating expenses this year by $361,535 or 21.1%, as a result of
hiring additional sales and consulting personnel and accelerating marketing
initiatives and associated costs. A less significant contributory factor was
the foreign exchange gain of $96,971 reported in the comparable quarter last
year decreasing to $4,603 in the current quarter. These results are indicative
of management's strategy to grow market share and top line revenues of the
Company, which necessitates a reinvestment of resources in support of those
objectives.

    Quarter Highlights

    The Company continued to work in close collaboration with its reseller
partners and Microsoft in pursuit of key customer wins, resulting in the
addition of several high-profile niche market leaders as new clients. Such
clients included the Green Bay Catholic Diocese, one of the largest of such
organizations in North America; the Banff Centre, a globally renowned arts,
cultural, and educational institution; and an international philanthropic
organization.

    Outlook

    The Company continues to evolve as a preferred supplier within niche
segments of the NFP and public sector markets, and is becoming a major
contender within these markets for both North American and global
organizations. With no debt and $2.6 million cash on hand, the Company is
continuing to execute upon its growth strategy to increase market share and
revenue. Expectations are to continue the re-investment of resources in the
current fiscal year to grow top line revenues, while still generating positive
cash flow.

    Forward Looking Statements

    Certain statements contained in this press release, including statements
which may contain words such as "could", "should", "expect", "anticipate",
"believe", "will", and similar expressions and statements relating to matters
that are not historical facts, are forward looking statements. Such forward
looking statements involve known and unknown risks and uncertainties which may
cause the actual results, performances or achievements of Serenic Corporation
to be materially different from any future results, performances or
achievements expressed or implied by such forward looking statements. Such
factors include, but are not limited to, software industry risks, general
business risks, foreign currency risks, economic dependence risks, and credit
risks.

    About Serenic Corporation

    Serenic Corporation is an industry-leading publisher of mission-critical
software products that satisfy the unique and sophisticated functionality
requirements of not for profit organizations, educational institutions, and
government agencies. Built on Microsoft Dynamics NAV, Serenic's products
deliver fully integrated solutions that can, in many organizations, eliminate
the need for multiple third-party business applications.
    A Microsoft Gold-certified Industry Solutions Vendor, the Corporation's
products include the highly acclaimed Serenic Navigator(*), Serenic DonorVision,
and Serenic MinistryView. In addition, the Corporation is the exclusive
developer of the human resources and payroll products for Microsoft Dynamics
NAV users for North America.
    Serenic Corporation is a public company with offices in Edmonton, Alberta
and Lakewood, Colorado. It trades under the symbol "SER" on the TSX Venture
Exchange in Canada. Additional information about the Company is available at
www.serenic.com.

    ON BEHALF OF THE BOARD OF DIRECTORS

    By: "Dwayne Kushniruk"
    Chairman
    SERENIC CORPORATION

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    Editor's Notes:

    The Corporation was recently ranked 20th in the Top 100 Growth Companies
    by Profit Magazine, and was honoured as one of the Top 10 Technology
    Companies in the 2008 TSX Venture emerging public companies list





For further information:

For further information: Dwayne Kushniruk, dkushniruk@serenic.com,
Phone: 1-877-426-5385 x 509

Organization Profile

SERENIC CORPORATION

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