WANTED Technologies Posts Record Revenue in Q3 - Revenue for the leading source of insight and analysis on hiring demand grew 23 percent over the prior year



    
    - Record quarterly revenues of $1,641,587 compared to $1,334,141 in prior
      year, an increase of 23 %
    - EBITDA of $226,984, compared to $124,184 for third quarter of prior
      year, an increase of 83 %
    - Net earnings of $90,086, compared to $7,281 for the third quarter of
      prior year
    - Cash flows from operating activities of $168,884 for the third quarter
      and $1,186,721 for the nine-month period ended March 31, 2009
    - Increase of 113%, to 2,507, in the installed base of business
      professionals using WANTED Analytics(TM) during the third quarter of
      fiscal 2009, compared to the third quarter of fiscal 2008
    - Launch of Hiring Demand Indicators a content-rich service providing
      daily updates, insight and analysis of hiring demand in the marketplace
    

    Quebec City, May 19 /CNW Telbec/ - WANTED Technologies (TSX-V: WAN), the
leading source of insight and analysis based on hiring demand, reported today
record revenue for the third quarter of fiscal 2009 ended March 31, 2009. The
company generated revenues of $1,641,587, up 23 % over revenue of $1,334,141
for the third quarter of fiscal 2008. All amounts are in Canadian dollars,
unless otherwise indicated.
    "The overall economic environment, which deteriorated rapidly late in
2008, remained challenging for the majority of our clients in early in 2009,"
said Bruce Murray, WANTED's President and CEO. "The sales productivity
solutions we offer are designed to enable clients to maximize revenues, even
in a difficult economy, and that has helped fuel our ongoing growth."
    "In this most recent quarter, we continued to invest in product
development and in our sales organization to diversity our client base," said
Murray. "This investment, which began in 2008, has already begun to
demonstrate positive results."
    Revenues for the third quarter ended March 31, 2009 were $1,641,587,
representing an increase of $307,446 or 23 % over $1,334,141 posted for the
corresponding quarter of the previous year. For the nine-month period ended
March 31, 2009, revenue totalled $4,662,767, compared to $4,210,787 for the
same period in the previous fiscal year, an increase of $451,980, or 11 %.
    WANTED's business model is largely focused on building its recurring
revenue base through annual subscriptions to its leading employment market
intelligence platform, Analytics(TM) 2.0. Approximately 89 % of total revenue
for the third quarter of fiscal 2009 came from recurring revenue contracts,
compared to 90 % for the corresponding quarter of prior year.
    All major Media clients of WANTED with subscriptions expiring in the
third quarter renewed or extended their agreements, although some of them at
lower spending levels than prior years. Considering the actual market
conditions, these renewals confirm the value proposition of WANTED solutions
and reflect the positive reaction from the market to the Company's
newly-released online employment platform, Analytics(TM) 2.0.
    However, lower spending levels from some of these major clients, combined
with a reduction in demand from smaller clients affected by the current
economic crisis contributed to a 14 % decrease in the recurring revenue base
at the end of the third quarter of fiscal 2009, when compared to the second
quarter of fiscal 2009. The recurring revenue base at the end of the third
quarter of fiscal 2009 stood at 5.4 million. WANTED finished the third quarter
of prior fiscal year with a recurring revenue base of 5.0 million.
    Operating costs increased from $1,133,863 in the third quarter of fiscal
2008 to $1,480,863 for the third quarter of fiscal 2009, an increase of
$347,000 or 31 %. For the first nine months of fiscal 2009, operating costs
totalled $4,178,376, compared to $3,625,826 for the first nine months of the
previous fiscal year, an increase of $552,550 or 15 %. These increases are
directly attributable to investments in hiring additional resources in both
sales and product marketing to support the release of Analytics(TM) 2.0 and to
intensify the diversification strategy in the new market segments of Staffing,
Financial Services and Government.
    EBITDA for the third quarter of fiscal 2009 was $226,984 compared with
$124,184 for the third quarter of fiscal 2008, an increase of $102,800, or 83
%. For the first nine months of fiscal 2009, EBITDA totalled $893,266,
compared to $574,615 for the first nine months of the previous fiscal year, an
increase of $318,651 or 55 %. 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 quarter ended March 31, 2009 amounted to $90,086
($0.004 per share) compared to $7,281 ($0.0003 per share) for the
corresponding quarter of the previous year, an increase of $82,805. For the
first nine months of fiscal 2009, net earnings reached $428,434, compared to
$227,620 for the first nine months of the previous fiscal year, an increase of
$200,814 or 88 %.


    
    -------------------------------------------------------------------------
                              Three-month periods        Nine-month periods
                                 ended March 31            ended March 31
                          ------------------------  -------------------------
                                2009         2008         2009          2008
                          (unaudited)  (unaudited)  (unaudited)   (unaudited)
                          -----------  -----------  -----------  ------------
                                   $            $            $             $

    Revenues               1,641,587    1,334,141    4,662,767     4,210,787
    Cost of goods sold        47,345        9,222       84,537       133,039
                          -----------  -----------  -----------  ------------
    Margin                 1,594,242    1,324,919    4,578,230     4,077,748
    Expenses
      Research and
       development, net of
       tax credits           411,886      380,736    1,139,672     1,215,656
      Marketing and selling  617,947      358,352    1,789,841     1,094,875
      General and
       administrative        382,253      331,564    1,056,436     1,112,849
       Amortization of
        intangible assets     52,311       52,311      156,934       156,934
       Financial expenses,
        net amount            16,466       10,900       35,493        45,512
                          -----------  -----------  -----------  ------------
                           1,480,863    1,133,863    4,178,376     3,625,826
                          -----------  -----------  -----------  ------------
    Earnings before other
     revenue (expenses)      113,379      191,056      399,854       451,922
    Other revenue
     (expenses):
      Exchange gain (loss)       573       39,225      171,690        (3,364)
      Gains on disposal
       of property, plant
       and equipment             125        2,000          175         4,062
      Severance premium                  (225,000)                  (225,000)
                          -----------  -----------  -----------  ------------
    Earnings before
     income taxes            114,077        7,281      571,719       227,620
    Income taxes              23,991                   143,285
                          -----------  -----------  -----------  ------------
    Net earnings and
     Comprensive Income       90,086        7,281      428,434       227,620
                          -----------  -----------  -----------  ------------
                          -----------  -----------  -----------  ------------
    Basic and diluted
     net earnings per
     share                     0.004       0.0003        0.018         0.009
    -------------------------------------------------------------------------
    


    Cash flows generated from operating activities were $168,884 for the
third quarter of fiscal 2009 compared to $252,746 in the corresponding quarter
of previous year, a decrease of $83,862. For the first nine months of fiscal
2009, cash flows from operating activities reached $1,186,721, compared to
$220,141 in the corresponding period of previous year, a positive variation of
$966,580. This significant increase mostly results from a positive variance of
$887,459 in the changes in the working capital items mostly resulting from
collection of significant accounts receivable over the nine-month period ended
March 31, 2009 compared to significant customer payments being delayed as of
March 31, 2008.

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

    As at December 31, 2008, WANTED had working capital of $2,105,116
compared to $1,604,785 at June 30, 2008, an increase of $500,331. Cash and
short-term investments stood at $2,128,225 at March 31, 2009 compared to
$1,265,871 at June 30, 2008, a significant increase of $862,354 mostly
resulting from cash flows generated by the operating activities.
    Total assets stood at $6,218,999 at March 31, 2009, up $413,778 from
$5,805,221 at June 30, 2008. The increase in total assets is mainly due to an
increase of $575,334 in current assets, partially offset by a decrease in
intangible assets of $156,934 resulting from the amortization expense.
    Those interested will be able to access the information on the March 31,
2009 unaudited consolidated 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 Tuesday, May 19th, 2009.

    About WANTED Technologies Corporation

    WANTED is the leading source of insight and analysis based on hiring
demand. Clients in the media, HR/staffing, financial services and government
sectors use WANTED's online data and SaaS-based analytical solutions to
identify economic trends, analyze competitive and market activities and
prioritize sales opportunities.
    WANTED is also the exclusive data provider for The Conference Board's
Help-Wanted OnLine Data Series(TM), the monthly economic indicator of hiring
demand in the United States.
    WANTED Technologies (TSX-V:WAN) was founded in 1999. The company's
headquarters are in Quebec City, Canada, and it maintains a US-based
subsidiary with primary offices in New York City. The company began collecting
detailed hiring demand data in 2002, and currently maintains a database of
hundreds of millions of unique job listings. Visit www.wantedtech.com for more
information about how WANTED helps organizations make better decisions and
improve sales results.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.  Any statement that appears prospective

    Note to editors: Trademarks and registered trademarks referenced herein
    remain the property of their respective owners.




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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