WANTED Technologies Posts Record FY 2008 Revenue Growth of 84 Percent



    
       Net earnings for leading employment market intelligence provider
                   were up 57 percent over the prior year.

    Summary of 2008 financial results
    ---------------------------------

    - Revenue growth of 84% for the 2008 fiscal year compared with fiscal
      2007
    - EBITDA of $836,228, up $457,729, or 121% over fiscal 2007
    - Net earnings of $360,194, an increase of 57% over fiscal 2007
    - Year-over-year increase of 25% in the installed user base of WANTED
      Analytics(TM)
    

    QUEBEC CITY, Oct. 2 /CNW Telbec/ - WANTED Technologies (TSX-V: WAN), the
leading source of on-demand intelligence for the employment marketplace,
reported today record revenue and significant earnings growth for the fiscal
year ending June 30, 2008. The company's revenues were up 84 percent at
$5.68 million, with net earnings of $360,194, an increase of 57 percent. All
amounts are in Canadian dollars, unless otherwise indicated.
    "Our performance this year, following the acquisition of Corzen, Inc., is
particularly significant," said Bruce Murray, President and CEO of WANTED. "We
have completed the integration of products and services of two companies, and
we are now delivering a comprehensive, robust set of services for companies
serving the employment services marketplace."
    WANTED provides market intelligence and sales productivity tools based on
aggregating and analyzing millions of online job ads posted on more than
1,000 job boards each week. Clients of WANTED's services access its data
warehouse through WANTED Analytics(TM), a web-based, customizable online
dashboard that provides timely insight into demand for employment throughout
the US and Canada.
    Demand for WANTED's services comes from multiple business sectors. Media
clients, for instance, use WANTED services to increase their sales of print
and online job advertising, a line of business that has rapidly undergoing
transformation due to the migration of advertising services to the Internet.
This Internet-enabled media segment is continuing to evolve rapidly as new
social networking sites like LinkedIn and Facebook are increasingly seen as
emergent suppliers of recruiting services.
    WANTED's largest media clients have integrated the company's weekly data
feeds and sales intelligence tools into Customer Relationship Management (CRM)
systems which power thousands of recruiting services sales people. This level
of integration of business processes creates efficiencies within clients'
sales organizations, leading to more contacts, higher close rates and overall
productivity gains.
    WANTED's suite of Business Intelligence services, which include Data
Hygiene and Gap Analysis, are key to the evolving business processes of
highly-successful sales driven organizations. WANTED's Business Intelligence
services, in conjunction with WANTED's weekly feeds of fresh sales leads, have
helped automate sales operations for clients with hundreds of CRM-enabled
sales representatives in multiple locations.
    Revenues for the fiscal year ended June 30, 2008 increased by 84% to
reach $5,676,077 compared to $3,093,115 for the previous year. WANTED results
reflect the inclusion of the existing customer base of Corzen, Inc. acquired
on June 30, 2007. The combined products and services of the two companies
continued to generate a high-level of customer satisfaction, which translated
into renewals among leading clients such as the Conference Board and Hearst
Corporation. The company closed significant new agreements to deliver the new
integrated product with clients such as Lee Enterprises, Tribune Company and
Cox Newspapers.
    WANTED also increased its recurring revenue base to 5.1 million as of
June 30, 2008, starting from approximately 4.5 million as of June 30, 2007.
Recurring revenues represented approximately 84% of total revenues in fiscal
2008 compared to 97% last fiscal year. The change in percentage of recurring
revenues results from the introduction of new products and services that
enable WANTED client's to take advantage of WANTED's latest generation of
proprietary Sales Lead Scoring and CRM-enabled services.

    
    -------------------------------------------------------------------------
                                                         2008           2007
                                                   -----------    -----------
                                                            $              $
    Revenues                                        5,676,077      3,093,115
    Cost of goods sold                                247,375          9,314
                                                   -----------    -----------
    Gross margin                                    5,428,702      3,083,801

    Expenses
      Research and development, net of tax
       credits                                      1,607,885        892,530
      Marketing and selling                         1,517,467        975,363
      Administrative                                1,432,424        808,436
      Amortization of intangible assets               209,244
      Financial (revenue), net amount                  67,005         (9,368)
                                                   -----------    -----------
                                                    4,834,025      2,666,961
                                                   -----------    -----------
    Earnings before other revenue (expenses)          594,677        416,840
    Other revenue (expenses):
      Exchange loss                                   (13,895)       (51,923)
      Severance premium                              (225,000)      (135,000)
      Gain on disposal of property, plant and
       equipement                                       4,412
                                                   -----------    -----------
    Net earnings                                      360,194        229,917
                                                   -----------    -----------
                                                   -----------    -----------

    Basic and diluted net earnings per share            0.015          0.011
    -------------------------------------------------------------------------
    

    Operating costs increased from $2,666,961 in fiscal 2007 to $4,834,025, a
variation of 81%. This increase is mostly due to the addition of resources to
enable WANTED to further diversify its customer base to serve recruitment
services, financial research and government clients. Additional one-time
consulting and professional fees resulting from the integration and operations
of Corzen Inc. following its acquisition also contributed to the increase. An
increase of $147,434 in the charge recorded related to stock-based
compensation also contributed to the increase in operating costs in fiscal
year 2008, as compared to fiscal 2007.
    EBITDA for the fiscal year ended June 30, 2008 was up $457,729 to
$836,228 compared with $378,499 for the fiscal year ended June 30, 2007, an
increase of 121%. EBITDA represents the net earnings before net financial
expense, income taxes, depreciation and amortization on property, plant and
equipment and intangible assets. As generally accepted accounting principles
in Canada do not provide a standardized definition for this measure, it may
not be comparable to similar measures used by other companies.
    Net earnings for the year ended June 30, 2008 amounted to $360,194
($0.015 per share) compared to $229,917 ($0.011 per share) last fiscal year,
an increase $130,277, or 57%. Net earnings for fiscal 2008 were affected by a
non-recurring charge of $225,000 related to the departure of the Company's
president and chief executive officer. Disregarding this non recurring charge,
net earnings for fiscal year 2008 would have been $585,194.

    Summary of financial results for the fourth quarter of 2008
    -----------------------------------------------------------

    In the fourth quarter of 2008, WANTED posted revenues of $1,465,290, an
increase of 75% over revenues of $835,063 recorded in the same quarter of last
fiscal year. Net earnings for the fourth quarter of 2008 were $132,574
($0.006 per share), an increase of $119,660 from $12,914 ($0.001 per share)
for the same quarter in 2007.

    Financial position
    ------------------

    At June 30, 2008, WANTED had working capital of $1,604,785 compared to
$346,890 at June 30, 2007. Cash and short-term investments stood at
$1,265,871 at June 30, 2008 compared to $645,231 at June 30, 2007. The
increase in working capital as well as in cash and short-term investments
mostly results from a long-term financing of $750,000 obtained in the first
quarter of fiscal 2008. An increase of $452,451 in trade accounts receivable,
combined with a decrease of $244,930 in accounts payable and accrued
liabilities also contributed positively to the increase in working capital.
    Total assets stood at $5,805,221 at June 30, 2008, up $800,621 from
$5,004,600 at June 30, 2007. The increase in total assets is mainly due to an
increase of $998,563 in short-term assets, partially offset by a decrease in
intangible assets of $209,244 resulting from the amortization expense.
    Those interested will be able to access the information in the 2008
audited financial statements, the notes thereto and the management discussion
and analysis via the Internet at www.sedar.com and at the Company's website,
www.wantedtech.com, as of Thursday, October 2nd, 2008.

    About WANTED Technologies Corporation

    WANTED Technologies provides online data, intelligence and analytical
solutions focused on the employment marketplace in the United States and
Canada. Its clients include firms in the media, employment services and
financial services sectors.
    Founded in 1999, WANTED Technologies has developed proprietary
web-crawling and data transformation technologies to capture and analyze on a
weekly basis more than three million jobs advertised online. The company
integrates this data with multiple third party data sets to create proprietary
information products. These products include economic trend analyses,
competitive and market intelligence, scored sales leads, custom data feeds and
analytical reporting services.
    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.
    For more information please visit www.wantedtech.com.

    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. Bruce Murray, President and CEO, (418)
523-6663, ext. 222; Mr. Martin Auclair, VP Finance and CFO, (418) 523-6663,
ext. 337; Source: WANTED Technologies Corporation

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WANTED Technologies Corp.

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