Triant Reports $1.1 Million Net Profit for 2006 Year End



    VANCOUVER, March 23 /CNW/ - Triant Holdings Inc. (TSX: TNT) reports
financial results for the fourth quarter and year ended December 31, 2006
(expressed in Canadian dollars), which will also be posted on Triant's website
at www.triant.com and available on SEDAR at www.sedar.com. Triant will host a
conference call today, Friday, March 23, 2007 at 10:00 a.m. Pacific Time
(1:00 p.m. Eastern Time) to discuss these financial results.
    Net earnings for the year ended December 31, 2006 were $1,090,572
compared to a net loss of $2,348,345 for the year ended December 31, 2005.
This change to net earnings from a net loss was the result of the combined
favourable effects of higher revenue and lower operating expenses for 2006, as
well as a gain on dilution of subsidiary interest of $950,000 and higher
interest and other income.
    Basic and diluted earnings per share for the year ended December 31, 2006
were $0.26 compared to a loss per share of $0.57 for the year ended
December 31, 2005.
    Robert Heath, Triant's President & CEO, commented, "Our outlook for 2007
is positive. We are encouraged by our 2006 year end results and continue to
pursue significant market opportunities, primarily in Asia."
    Revenue for the year ended December 31, 2006 was $6,330,707 compared to
$5,141,531 for the year ended December 31, 2005. This represents a 23%
increase overall for 2006 compared to 2005 due to an increase in new orders.
Triant's revenue is derived principally from the sale of software licenses,
hardware products, and related services, including software updates and
maintenance services provided pursuant to annual service agreements,
man-on-site agreements, and custom systems integration software development
services. Included in revenue for 2006 were $3,310,434 (or 52%) from the sale
of licenses and products and $3,020,273 (or 48%) from services and maintenance
provided by Triant's systems integration and customer support groups, compared
to $2,471,243 (or 48%) and $2,670,288 (or 52%), respectively, for 2005.
    During 2006, Triant received $6.5 million in new orders compared to
$4.2 million for 2005. Triant ended 2006 with $0.9 million in total of
deferred revenue and backlog (defined as the unbilled portions of purchase
orders received from customers, which is a non-GAAP measure that may not be
comparable to other companies) compared to $0.7 million at the end of 2005.
Triant continues to pursue the sale of fab-wide licenses of ModelWare and
service and maintenance contracts and related products with primarily Asian
semiconductor and flat panel display manufacturers.
    Operating expenses for the year ended December 31, 2006 were $4,693,191
compared to $6,227,692 for the year ended December 31, 2005. The 25% decrease
in operating expenses for 2006 compared to 2005 was attributable to decreases
in personnel and related costs in research and development expenses, lower
general and administrative expenses and lower stock-based compensation
expense. Operating expenses for the comparative year included the costs of
Triant's internal reorganization and related activities incurred during the
fourth quarter of 2005, consisting of general and administrative expenses of
approximately $300,000 and an impairment of property, plant and equipment of
$237,239, which was identified by Triant as a result of the reorganization
under a plan of arrangement.
    Earnings from operations for the year ended December 31, 2006 were $7,144
compared to a loss from operations of $2,446,014 for the year ended
December 31, 2005. This change to earnings from operations from a loss from
operations was a result of the combined favourable effects of higher revenue
and lower operating expenses for 2006 compared to 2005.
    Revenue for the fourth quarter ended December 31, 2006 was $1,681,706
compared to $1,429,960 for the fourth quarter of 2005. Included in revenue for
the fourth quarter of 2006 was $898,198 (or 53%) from the sale of licenses and
products and $783,508 (or 47%) from services and maintenance provided by
Triant's systems integration and customer support groups, compared to $781,433
(or 55%) and $648,527 (or 45%), respectively, for the fourth quarter of 2005.
During the fourth quarter ended December 31, 2006, Triant received
$1.0 million in new orders compared to $1.0 million for the fourth quarter of
2005.
    Operating expenses for the fourth quarter ended December 31, 2006 were
$1,173,020 compared to $1,603,066 for the fourth quarter of 2005. The 27%
decrease in operating expenses for the fourth quarter of 2006 compared to 2005
was mainly attributable to lower general and administrative expenses overall.
Operating expenses for the comparative quarter in 2005 included the costs of
Triant's internal reorganization and related activities incurred during the
fourth quarter of 2005, consisting of general and administrative expenses of
approximately $300,000 and an impairment of property, plant and equipment of
$237,239, which was identified by Triant as a result of the reorganization
under a plan of arrangement.
    Loss from operations for the fourth quarter ended December 31, 2006 was
$48,895 compared to a loss from operations of $623,298 for the fourth quarter
of 2005. This decrease in loss from operations was as a result of the combined
favourable effects of higher revenue and lower operating expenses for the
fourth quarter of 2006 compared to the fourth quarter of 2005.
    Net earnings for the fourth quarter ended December 31, 2006 were $82,495
compared to a net loss of $594,094 for the fourth quarter of 2005. This change
to net earnings from a net loss was a result of the combined favourable
effects of higher revenue and lower operating expenses for the fourth quarter
of 2006, as well as higher interest and other income.
    Basic and diluted earnings per share for the fourth quarter ended
December 31, 2006 were $0.02 compared to a loss per share of $0.14 for the
fourth quarter of 2005.
    Included in net earnings for the year ended December 31, 2006 was a
$950,000 gain on dilution of subsidiary interest, which was realized in the
first quarter of 2006 as previously disclosed. As a result of that
transaction, Triant also received marketable securities, which as at
December 31, 2006 had a carrying value of $Nil and a market value of $341,669.
Subsequent to the year ended December 31, 2006, Triant sold all of these
marketable securities for net cash proceeds of $334,143.
    As at December 31, 2006, Triant had a $4.2 million balance for cash, cash
equivalents and accounts receivable compared to a $3.2 million balance as at
December 31, 2005.

    Conference Call Access Information
    Triant will host a conference call today, Friday, March 23, 2007 at
10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) to discuss the 2006 year end
financial results. The dial-in number for the call is 416.340.2216 and the
Conference Code is 3217352 followed by the number sign. A replay of the
conference call will be available today, Friday, March 23, 2007 after
1:00 p.m. Pacific Time (4:00 p.m. Eastern Time). The replay number is
416.695.5800 and the Conference Code is 3217352 followed by the number sign.

    About Triant
    Triant develops and deploys equipment health monitoring and advanced
fault detection solutions. Our primary focus is the global semiconductor
industry where we provide innovative software solutions that enable our
customers to improve yield and throughput in their highly sophisticated
semiconductor manufacturing plants. To address the market opportunity in the
semiconductor industry, we have developed ModelWare(R), a complete equipment
health monitoring and advanced fault detection software solution. Leading
semiconductor companies are using ModelWare to improve their competitive
advantage in manufacturing integrated circuits (ICs). The Company's ModelWare
product provides a commercially available, real-time equipment health
monitoring and advanced fault detection software solution to the semiconductor
industry, by virtue of its technology, deployment experience and expertise in
equipment health monitoring and advanced fault detection principles and
techniques. More information about Triant is available via the Internet at
www.triant.com.

    This news release contains forward-looking statements that are subject to
various risks and uncertainties. The Company's actual results could differ
materially from those anticipated in such forward-looking statements as a
result of numerous factors that may be beyond the Company's control.
Forward-looking statements are based on the expectations and opinions of the
Company's management on the date the statements are made.


    
                             Triant Holdings Inc.
              Summary Consolidated Statement of Operations Data
                       (Expressed in Canadian Dollars)
                                 (Unaudited)

                             Three Months Ended           Year Ended
                                December 31,              December 31,
                              2006         2005         2006         2005
    ----------------------------------------------- ------------ ------------
    Revenue               $ 1,681,706  $ 1,429,960  $ 6,330,707  $ 5,141,531
    Cost of revenue           557,581      450,192    1,630,372    1,359,853
    Gross margin            1,124,125      979,768    4,700,335    3,781,678
    Operating expenses
      Research and
       development            467,346      549,877    1,919,286    2,859,101
      Selling, general
       and administrative     663,297      989,628    2,616,792    3,129,029
      Stock-based
       compensation            42,377       63,561      157,113      239,562
      Total operating
       expenses             1,173,020    1,603,066    4,693,191    6,227,692
    Earnings (loss) from
     operations               (48,895)    (623,298)       7,144   (2,446,014)
    Interest and other
     income                   131,390       29,204      133,428       97,669
    Gain on dilution of
     subsidiary interest            -            -      950,000            -
    Net earnings (loss)
     for the period       $    82,495  $  (594,094) $ 1,090,572  $(2,348,345)
    Earnings (loss)
     per share
      Basic               $      0.02  $     (0.14) $      0.26  $     (0.57)
      Diluted             $      0.02  $     (0.14) $      0.26  $     (0.57)
    Weighted average
     number of common
     shares outstanding
      Basic                 4,140,789    4,140,789    4,140,789    4,140,789
      Diluted               4,231,545    4,140,789    4,208,003    4,140,789
    Number of common
     shares issued and
     outstanding            4,140,789    4,140,789    4,140,789    4,140,789


                             Triant Holdings Inc.
                   Summary Consolidated Balance Sheet Data
                       (Expressed in Canadian Dollars)
                                 (Unaudited)

                                                  December 31,   December 31,
                                                      2006           2005
                                                 -------------  -------------

    Cash and cash equivalents                     $ 3,000,615    $ 2,932,025
    Accounts receivable, net                        1,234,605        287,873
    Inventory                                         203,385        148,665
    Prepaid expenses and other                        272,874        258,998
    Property, plant and equipment, net                166,506        169,587
    Total assets                                    4,877,985      3,797,148
    Accounts payable and accrued liabilities          919,102      1,103,662
    Deferred revenue                                  606,886        589,174
    Total liabilities                               1,525,988      1,692,836
    Total shareholders' equity                      3,351,997      2,104,312
    

    %SEDAR: 00023157E




For further information:

For further information: Robert Heath, President & CEO; Mark Stephens,
CFO, Triant Holdings Inc., (604) 697-5090, mail@triant.com

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TRIANT HOLDINGS INC.

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