WANTED Technologies posts 88% revenue growth and continues to generate strong profits for second quarter of fiscal 2008



    
      - Revenue growth of 88% for the second quarter and 103 % increase for
        the first six months of fiscal 2008, compared with the same periods
        of the previous year
      - Net earnings growth of 41% for the second quarter and 141 % increase
        for the first six months, compared with the same periods of the
        previous year
    

    QUEBEC, Feb. 20 /CNW Telbec/ - WANTED Technologies Corporation ("WANTED"
or the "Company") (TSX Venture: WAN), a leading provider of real-time sales
and business intelligence solutions for the recruitment and media classified
industries, reported its results today for the second quarter of fiscal 2008
ended December 31, 2007. All amounts are in Canadian dollars, unless otherwise
indicated.

    Summary of Financial Results for the Second Quarter of Fiscal 2008

    Revenues for the second quarter ended December 31, 2007 were             
$1,428,657, up 88% from $758,643 for the same quarter last year. For the
six-month period ended December 31, 2007, revenues totalled $2,876,646,
compared to $1,414,988 for the same period in the previous fiscal year, an
increase of 103%. This significant growth in revenues is the result of joint
marketing and selling of the new WANTED-Corzen business solutions. These
results continue to reflect the media and financial markets' appreciation for
the new WANTED value proposition and marketplace leadership for real-time
business and sales intelligence solutions. The acquisition of Corzen Inc.
concluded on June 30, 2007 contributed significantly to the growth in
revenues.

    
                                 Three-month periods      Six-month periods
                                   ended December 31,     ended December 31,
                               ---------------------   ---------------------
                                    2007        2006        2007        2006
                              (unaudited) (unaudited) (unaudited) (unaudited)
                              ----------  ----------  ----------  ----------
                                       $           $           $           $
    Revenues                   1,428,657     758,643   2,876,646   1,414,988
    Cost of goods sold           123,817       9,314     123,817       9,314
                              ----------  ----------  ----------  ----------
    Margin                     1,304,840     749,329   2,752,829   1,405,674

    Expenses
      Research and
       development, net of
       tax credits               409,544     197,378     815,321     398,102
      Marketing and selling      341,976     224,778     725,055     456,276
      General and
       administrative            335,379     227,300     664,309     431,672
      Amortization of
       intangible assets          52,311           -     104,623           -
      Financial expenses
       (revenue), net
       amount                     11,158      (1,493)     34,612      (2,069)
                              ----------  ----------  ----------  ----------
                               1,150,368     647,963   2,343,920   1,283,981
                              ----------  ----------  ----------  ----------
    Earnings before other
     items                       154,472     101,366     408,909     121,693
    Other items:
      Exchange gain (loss)        (8,561)     10,798     (42,589)      6,305
      Gain on disposal of
       property, plant and
       equipment                   2,062           -       2,062           -
      Stock-based
       compensation              (41,038)    (36,618)   (148,043)    (36,618)
                              ----------  ----------  ----------  ----------
    Net earnings                 106,935      75,546     220,339      91,380
                              ----------  ----------  ----------  ----------
                              ----------  ----------  ----------  ----------

    Basic and diluted net
     earnings per share            0.004       0.004       0.009       0.004
    

    The Company's operating expenses for the second quarter of fiscal 2008
were $1,150,368, up 78% from $647,963 in the second quarter of fiscal 2007.
For the first six months of fiscal 2008, operating costs totalled             
$2,343,920, compared to $1,283,981 for the first six months of the previous
fiscal year, an increase of 83%.This increase is directly related to absorbing
the cost structure of recently acquired Corzen Inc. and the hiring of new
personnel to strengthen WANTED's overall operating infrastructure
capabilities, taking future growth into consideration.
    In the second quarter ended December 31, 2007, WANTED posted net earnings
of $106,935 ($0.004 per share) compared to net earnings of $75,546 ($0.004 per
share) for the corresponding quarter of fiscal 2007.
    For the first six months of fiscal 2008, WANTED generated net earnings of
$220,339 ($0.009 per share), compared to $91,380 ($0.004 per share) for the
first six months of the previous fiscal year, an increase of 141%. This
favourable variation of $128,959 is partly attributable to a 103% revenue
increase, partially offset by an increase of 83% in operating expenses. WANTED
also absorbed a $42,589 exchange loss for the six-month period ended
December 31, 2007 compared to a $6,305 gain in the first six months of the
previous year. A charge attributed to stock options for an amount of
$148,043 also affected the net earnings of the first six months of the current
year.

    Financial position

    As at December 31, 2007, WANTED had working capital of $1,376,120 when
compared to $346,890 as at June 30, 2007. Cash and short-term investments
stood at $1,050,524 as at December 31, 2007 compared to $645,231 as at
June 30, 2007. The increase in working capital as well as in cash and
short-term investments is mainly due to the conclusion of the long-term
financing of $750,000, plus increases in the trade accounts receivable and the
tax credits receivable. Accounts payable and accrued liabilities were reduced
significantly to $688,369 as at December 31, 2007, from $930,712 as at
June 30, 2007. This reduction is mainly due to disbursements related to
acquisition expenses of Corzen. Total assets were at $5,775,748 as of December
31, 2007, up $771,148 from $5,004,600 as of June 30, 2007. The increase in
total assets is mainly due to a long term financing of $750,000 concluded in
July 2007. Compared to June 30, 2007, property, plant and equipment increased
by $35,906 to $576,737 while intangible assets decreased by $104,623 to
$1,256,958 as result of amortization.
    "We have successfully completed several client pilot projects of "The
Wanted System" sales intelligence solution. This solution empowers the sales
organization with the most accurate and real-time market, customer and
competitor information." The sales performance results, enabled by this new
solution, have been recognized by our clients and led to the award of
enterprise-wide agreements" said Scott Burton, President and Chief Executive
Officer of WANTED.
    Those interested will be able to access the information on the
December 31, 2007 unaudited consolidated financial statements, the notes
thereto and the management discussion and analysis via the Internet at
www.sedar.com and on the Company's website, www.wantedtech.com, as of
Wednesday, February 20, 2008.

    About WANTED Technologies

    WANTED Technologies is a leading provider of real-time sales and business
intelligence solutions for the staffing and recruitment, real estate, and
media classified advertising industries.
    WANTED's proprietary technology and services deliver enriched market
research and customer information, helping clients improve their advertising
sales performance.
    WANTED Technologies is also the exclusive data provider for The
Conference Board's Help-Wanted Online Data Series(TM), a monthly economic
indicator of job availability in the United States.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release. Any statement that appears prospective shall
    not be interpreted as such.
    %SEDAR: 00022769EF




For further information:

For further information: Mr. Scott E. Burton, President and CEO,
1-866-451-2151 ext. 222; Mr. Martin Auclair, CA, Vice President Finance & CFO,
(418) 523-6663 ext. 337; Source: WANTED Technologies Corp.

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