Triant Reports 2007 Fourth Quarter and Annual Financial Results



    VANCOUVER, March 31 /CNW/ - Triant Holdings Inc. (TSX: TNT) reports
financial results for the fourth quarter and year ended December 31, 2007
(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, Monday, March 31, 2008 at 11:00 a.m. Pacific Daylight
Time (2:00 p.m. Eastern Daylight Time) to discuss these financial results.
    Revenue for the year ended December 31, 2007 was $3,689,751 compared to
$6,330,707 for the year ended December 31, 2006. Triant's revenue is derived
principally from the sale of ModelWare software licenses, hardware products
and related services, including software updates and maintenance services
provided pursuant to annual service agreements, man-on-site agreements, and
systems integration services. Included in revenue for the year ended
December 31, 2007 were $924,853 (or 25%) from the sale of licenses and
products and $2,764,898 (or 75%) from services and maintenance provided by
Triant's systems integration and customer support groups, compared to
$3,310,434 (or 52%) and $3,020,273 (or 48%), respectively, for the year ended
December 31, 2006. The decline in revenue for 2007 compared to 2006 was
primarily attributable to the decrease in revenue from licenses and products.
Triant had been expecting three significant orders for ModelWare software
licenses, which did not occur during the year. Subsequent to the end of the
year and related to one of these three orders that had been expected in 2007,
Triant reported on January 22, 2008 that it had received an order from a major
semiconductor manufacturer for its newest 300mm 'megafab' wafer factory.
    During the year ended December 31, 2007, Triant received $3.6 million in
new orders compared to $6.5 million for the year ended December 31, 2006. At
December 31, 2007, Triant had $0.5 million in total of deferred revenue and
backlog compared to $0.9 million at December 31, 2006. (The definition of new
orders is the total amount invoiced to customers during the year plus the
change in backlog during the year. The definition of backlog is the unbilled
portions of purchase orders received from customers during the year. The
definitions of new orders and backlog are not standard measures and may not be
comparable to other companies.)
    Global semiconductor sales (in US dollars) increased by a modest 3.2% in
2007 according to the Semiconductor Industry Association (in a press release
dated February 1, 2008). However, global semiconductor industry sales would
have contracted if measured in Canadian dollars. In light of the current
uncertain macroeconomic environment, Triant has noted a hesitancy among
semiconductor and flat panel manufacturers to commit to major capital
projects. Triant's strategy continues to be pursuing sales of fab-wide
licenses of ModelWare and service and maintenance contracts and related
products with primarily Asian semiconductor and flat panel display
manufacturers, as well as to other adjacent markets.
    Operating expenses for the year ended December 31, 2007 were $4,592,577
compared to $4,693,191 for the year ended December 31, 2006. The decrease in
operating expenses for the year ended December 31, 2007 compared to the year
ended December 31, 2006 was attributable to lower selling, general and
administrative expenses, partially offset by higher research and development
expenses.
    For the year ended December 31, 2007, loss from operations was $1,974,747
compared to earnings from operations of $7,144 for the year ended December 31,
2006. This change to a loss from operations for the year ended December 31,
2007 compared to earnings from operations for the year ended December 31, 2006
was primarily the result of lower revenue.
    For the year ended December 31, 2007, net loss was $1,776,941 compared to
net earnings of $1,090,572 for the year ended December 31, 2006. This change
reflected the combined effect of the change to a loss from operations and
lower non-operating income items for the year ended December 31, 2007 (which
included a gain on sale of marketable securities of $334,143) compared to the
year ended December 31, 2006 (which included a gain on dilution of subsidiary
interest of $950,000). Net loss for the year ended December 31, 2007 includes
foreign exchange losses of $201,292 and net earnings for the year ended 2006
includes foreign exchange gains of $37,559.
    For the year ended December 31, 2007, loss per share was $0.43 compared
to basic and diluted earnings per share of $0.26 for the year ended December
31, 2006.
    Revenue for the fourth quarter ended December 31, 2007 was $998,159
compared to $1,681,706 for the fourth quarter ended December 31, 2006.
Included in revenue for the fourth quarter of 2007 were $339,168 (or 34%) from
the sale of licenses and products and $658,991 (or 66%) from services and
maintenance provided by Triant's systems integration and customer support
groups, compared to $924,853 (or 25%) and $2,764,898 (or 75%), respectively,
for the fourth quarter of 2006.
    During the fourth quarter of 2007, Triant received $1.0 million in new
orders compared to $1.0 million for the fourth quarter of 2006.
    Operating expenses for the fourth quarter ended December 31, 2007 were
$1,035,339 compared to $1,173,020 for the fourth quarter ended December 31,
2006. The decrease in operating expenses for the fourth quarter of 2007
compared to the fourth quarter of 2006 was attributable to lower selling,
general and administrative expenses, partially offset by higher research and
development expenses.
    For the fourth quarter ended December 31, 2007, loss from operations was
$331,738 compared to loss from operations of $48,895 for the fourth quarter
ended December 31, 2006. This increase in loss from operations for the fourth
quarter of 2007 compared to the fourth quarter of 2006 was primarily a result
of lower revenue, partially offset by lower cost of revenue and operating
expenses for the fourth quarter of 2007.
    For the fourth quarter ended December 31, 2007, net loss was $307,482
compared to net earnings of $82,495 for the fourth quarter of 2006. This
change to a net loss from operations for the fourth quarter of 2007 compared
to net earnings for the fourth quarter of 2006 was primarily the result of
lower revenue for the fourth quarter of 2007. Net loss for the fourth quarter
of 2007 includes foreign exchange gains of $12,972 and net earnings for the
fourth quarter of 2006 includes foreign exchange gains of $82,895.
    For the fourth quarter ended December 31, 2007, loss per share was $0.07
compared to basic and diluted earnings per share of $0.02 for the fourth
quarter ended December 31, 2006.
    As at December 31, 2007, Triant had a $1.6 million balance for cash, cash
equivalents and accounts receivable compared to a $4.0 million balance as at
December 31, 2006.
    Triant will host a conference call on Monday, March 31, 2008 at
11:00 a.m. Pacific Daylight Time (2:00 p.m. Eastern Daylight Time) to discuss
further the 2007 fourth quarter and year end financial results.

    Conference Call Access Information
    Triant will host a conference call today, Monday, March 31, 2008 at
11:00 a.m. Pacific Daylight Time (2:00 p.m. Eastern Daylight Time) to discuss
the 2007 fourth quarter and annual financial results. The dial-in number for
the call is 416.850.9144. A replay of the conference call will be available
today, Monday, March 31, 2008 after 2:00 p.m. Pacific Daylight Time (5:00 p.m.
Eastern Daylight Time). The replay number is 416.915.1035.and the Conference
Code is 955406 followed by the number sign.

    About Triant
    Triant develops and deploys equipment health monitoring and advanced
fault detection solutions. Our primary focus is currently 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. Triant's ModelWare
product is a commercially available, real-time equipment health monitoring and
advanced fault detection software solution aimed primarily at the
semiconductor industry. ModelWare is the result of many years of experience
Triant has in the development, deployment and application of these types of
software solutions. 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. Triant's actual results could differ
materially from those anticipated in such forward-looking statements as a
result of numerous factors that may be beyond Triant's control.
Forward-looking statements are based on the expectations and opinions of
Triant'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            Years Ended
                                 December 31,              December 31,
                              2007         2006         2007         2006
    ----------------------------------------------- ------------ ------------
    Revenue
      Licenses and
       products           $   339,168  $   898,198  $   924,853  $ 3,310,434
      Services and
       maintenance            658,991      783,508    2,764,898    3,020,273
                          ------------ ------------ ------------ ------------
        Total revenue         998,159    1,681,706    3,689,751    6,330,707
    Cost of revenue           294,558      557,581    1,071,921    1,630,372
                          ------------ ------------ ------------ ------------
    Gross margin              703,601    1,124,125    2,617,830    4,700,335
                          ------------ ------------ ------------ ------------
    Operating expenses
      Selling, general
       and administrative     537,831      691,689    2,559,347    2,722,057
      Research and
       development            497,508      481,331    2,033,230    1,971,134
                          ------------ ------------ ------------ ------------
        Total operating
         expenses           1,035,339    1,173,020    4,592,577    4,693,191
                          ------------ ------------ ------------ ------------
    Earnings (loss) from
     operations              (331,738)     (48,895)  (1,974,747)       7,144
    Interest and other
     income (expense)          11,284       48,495       64,955       95,869
    Foreign exchange
     gains (losses)            12,972       82,895     (201,292)      37,559
    Gain on sale of
     marketable securities          -            -      334,143            -
    Gain on dilution of
     subsidiary interest            -            -            -      950,000
                          ------------ ------------ ------------ ------------
    Net earnings (loss)
     and other comp-
     rehensive income
     for the year         $  (307,482) $    82,495  $(1,776,941) $ 1,090,572
                          ------------ ------------ ------------ ------------
                          ------------ ------------ ------------ ------------
    Earnings (loss) per
     common share
      Basic               $     (0.07) $      0.02  $     (0.43) $      0.26
      Diluted             $     (0.07) $      0.02  $     (0.43) $      0.26
                          ------------ ------------ ------------ ------------
                          ------------ ------------ ------------ ------------
    Weighted average
     number of common
     shares outstanding
      Basic                 4,170,399    4,140,789    4,164,254    4,140,789
      Diluted               4,170,399    4,208,003    4,164,254    4,208,003
    Number of common
     shares issued and
     outstanding            4,170,399    4,140,789    4,170,399    4,140,789



                             TRIANT HOLDINGS INC.
                   Summary Consolidated Balance Sheet Data
                       (Expressed in Canadian Dollars)
                                 (Unaudited)

                                                  December 31,   December 31,
                                                      2007           2006
                                                 -------------  -------------

    Cash and cash equivalents                     $   995,106    $ 3,000,615
    Accounts receivable, net                          743,477      1,234,605
    Inventory                                         170,565        203,385
    Prepaid expenses and other                        183,408        272,874
    Property, plant and equipment, net                183,643        166,506
    Total assets                                    2,276,199      4,877,985
    Accounts payable and accrued liabilities          392,140        919,102
    Deferred revenue                                  146,582        606,886
    Total liabilities                                 538,722      1,525,988
    Total shareholders' equity                      1,737,477      3,351,997
    

    %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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