- Strong momentum continues with 161% growth in revenues -
MONTREAL, Nov. 23 /CNW/ - Aptilon Corporation (TSX-V: APZ) ("Aptilon" or
the "Company"), a leading provider of physician access through its innovative
alternative sales and marketing channel, today announced its financial results
for the three and nine-month periods ended September 30, 2007. Financial
references are in CDN dollars unless otherwise indicated. Complete financial
statements and MD&A are available on SEDAR at www.sedar.com.
Q3 07 Highlights
- Revenues totaled $2,008,122 for Q3 2007, up 161% compared to Q3 2006
- Gross profit totaled $708,481 for Q3 2007, up 80% compared to Q3
- Completed public offering of 25,000,000 common shares, at a price of
$0.40 per share, raising net proceeds of $9.1 million
- Signed one-year renewal agreement with Merck & Co.
- Signed agreement with Ortho-McNeil Neurologics, Inc. for AxcelRx(SM)
Live Video Detailing Sales Channel
"Our progress in penetrating the pharmaceutical sales market was a major
contributor to record revenue growth and continued upward momentum in gross
profits during the quarter," said Denis Martineau, President of Aptilon
Corporation. "A key achievement in the quarter was the renewal of our
agreement with Merck & Co. to include our internet-based AxcelRx(SM) Live
video detailing service, a system that enables reps to have live online
discussions with physicians. We expect to gain sales traction with additional
pharmaceutical companies as we continue to build awareness of our ability to
increase the effectiveness of their sales teams."
For the three months ended September 30, 2007, revenues increased 161% to
$2,008,122, compared to $769,530 for the same period a year ago. On a
year-to-date basis, revenues increased 116% to $6,362,732 million in the first
nine months of fiscal 2007, compared to $2,950,107 million in the comparable
period of 2006. Increased revenues for the three and nine months is
attributable to an increase in the number of pharmaceutical clients, an
increase in the number of pharmaceutical brands actively promoted and an
increase in the number of billable interactions with healthcare professionals.
Gross profit for the third quarter of 2007 was $708,481, compared to
$392,777 in the third quarter of 2006. Expressed as a percentage of revenue,
gross margins decreased from 51% to 35%, mainly due to the following items:
significant investments in rolling out versions of technology, notably the
rep-in-the-field solution; completion of pilot programs, including e-sampling;
and investments in the development of ReachNet(TM) partnerships that are not
yet generating interaction revenue. The Company expects these efforts to lead
to significant increases in revenue and gross margins in future periods.
Selling, general and administrative ("SG&A") expenses for Q3 2007 were
$1,395,162 or 69% of revenues, compared to $847,252 or 110% of revenues in Q3
2006. SG&A expenses consist primarily of salaries (including commissions and
bonuses), personnel expenses of executive management and administrative
personnel, and related office, premises, and other infrastructure support
Net loss for the three-month period ended September 30, 2007, was
$1,251,241 or $0.0078 per share, compared to $631,426 or $0.0825 per share for
the three-month period ended September 30, 2006. To date, approximately
$500,000 of the net loss is attributable to the shift in currency exchange and
As at September 30, 2007, the Company had working capital of $12,395,281,
including cash and cash equivalents of $11,296,817 compared to $6,542,888,
including cash and cash equivalents of $6,892,709 at December 31, 2006.
The Company had 186,119, 222 common shares outstanding (fully diluted) at
September 30, 2007.
About Aptilon Corporation
Aptilon enables pharmaceutical, biotech and medical device companies to
effectively reach and interact with physicians via the Internet through its
innovative AxcelRx Live video detailing (with company reps), virtual programs,
peer selling and other sales and marketing programs. Leading health care
companies have adopted Aptilon's model, driving tens of thousands of
high-quality rep-physician interactions averaging more than eight minutes in
length. Aptilon provides the infrastructure necessary for sales
representatives to build physician awareness, understanding and preference
during all stages of a products life cycle, from pre-launch education through
end stage support. For more information, visit www.aptilon.com.
This news release contains forward-looking information. These statements
relate to future events or future performance and reflect management's current
expectations and assumptions. Such forward-looking statements reflect
management's current beliefs and are based on information currently available
to management of Aptilon. A number of factors could cause actual events,
performance or results to differ materially from the events performance and
results discussed in the forward-looking statements. These forward-looking
statements are made as of the date hereof and Aptilon does not assume any
obligation to update or revise them to reflect new events or circumstances.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Denis Martineau, President, Aptilon
Corporation, 1-888-544-8866, email@example.com; Arianna Vanin, Investor
Relations, The Equicom Group, (514) 844-4680, firstname.lastname@example.org; For
Canadian Media: Jennifer-Lee Thomas, Aptilon Corporation, 1-888-544-8866,