Triant Reports Second Quarter 2007 Financial Results



    VANCOUVER, Aug. 14 /CNW/ - Triant Holdings Inc. (TSX: TNT) reports
financial results for the second quarter ended June 30, 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, Tuesday, August 14, 2007 at 10:00 a.m. Pacific Time
(1:00 p.m. Eastern Time) to discuss these financial results.
    Revenue for the second quarter ended June 30, 2007 was $1,011,803
compared to $1,623,080 for the second quarter ended June 30, 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 second quarter of 2007 were $323,473 (or 32%) from the sale of
licenses and products and $688,330 (or 68%) from services and maintenance
provided by Triant's systems integration and customer support groups, compared
to $634,128 (39%) and $988,952 (or 61%), respectively, for the second quarter
of 2006.
    During the second quarter of 2007, the Company received $0.7 million in
new orders compared to $1.6 million for the second quarter of 2006. At
June 30, 2007, the Company had $0.6 million in total of deferred revenue and
backlog (defined as the unbilled portions of purchase orders received from
customers, which is not a standard measure that may not be comparable to other
companies) compared to $2.0 million at June 30, 2006. Triant continues to
pursue the sale of fab-wide licenses of ModelWare and service and maintenance
contracts and related products with primarily Asian semiconductor and flat
panel display manufacturers.
    Operating expenses for the second quarter ended June 30, 2007 were
$1,119,641 compared to $1,152,955 for the second quarter ended June 30, 2006.
The decrease in operating expenses for the second quarter of 2007 compared to
the second quarter of 2006 was primarily attributable to a decrease in
management estimates for personnel related costs partially offset by increases
in travel costs.
    For the second quarter ended June 30, 2007, loss from operations was
$399,659 compared to earnings from operations of $97,536 for the second
quarter ended June 30, 2006. This change to a loss from operations for the
second quarter of 2007 compared to earnings from operations for the second
quarter of 2006 was primarily a result of lower revenue partially offset by
lower cost of revenue and operating expenses for the second quarter of 2007.
    For the second quarter ended June 30, 2007, net loss was $510,915
compared to net earnings of $62,633 for the second quarter ended June
30, 2006. This change to a net loss from net earnings was primarily the result
of lower revenue for the second quarter of 2007.
    For the second quarter ended June 30, 2007, loss per share was $0.12
compared to basic and diluted earnings per share of $0.02 for the second
quarter ended June 30, 2006.
    As at June 30, 2007, Triant had a $3.1 million balance for cash, cash
equivalents and accounts receivable compared to a $4.2 million balance as at
December 31, 2006.
    Revenue for the six months ended June 30, 2007 was $1,831,724 compared to
$2,359,019 for the six months ended June 30, 2006. Included in revenue for the
six months ended June 30, 2007 were $413,721 (or 23%) from the sale of
licenses and products and $1,418,003 (or 77%) from services and maintenance
provided by Triant's systems integration and customer support groups, compared
to $886,656 (or 38%) and $1,472,363 (or 62%), respectively, for the six months
ended June 30, 2006.
    During the six months ended June 30, 2007, the Company received
$1.8 million in new orders compared to $3.6 million for the six months ended
June 30, 2006.
    Operating expenses for the six months ended June 30, 2007 were $2,424,668
compared to $2,251,494 for the six months ended June 30, 2006. The increase in
operating expenses for the six months ended June 30, 2007 compared to the six
months ended June 30, 2006 was attributable to increases in personnel and
related costs as well as travel expenses in research and development and
general administration.
    For the six months ended June 30, 2007, loss from operations was
$1,106,987 compared to a loss from operations of $482,789 for the six months
ended June 30, 2006. The increase in loss from operations for the six months
ended June 30, 2007 compared to the six months ended June 30, 2006 was the
result of lower revenues and higher expenses.
    For the six months ended June 30, 2007, net loss was $843,809 compared to
net earnings of $488,575 for the six months ended June 30, 2006. This change
reflected the combined effect of an increase in loss from operations and lower
non-operating income items for the six months ended June 30, 2007 (which
included a gain on sale of marketable securities of $334,143) compared to the
six months ended June 30, 2006 (which included a gain on dilution of
subsidiary interest of $950,000).
    For the six months ended June 30, 2007, loss per share was $0.20 compared
to basic and diluted earnings per share of $0.12 for the six months ended
June 30, 2006.

    Conference Call Access Information

    Triant will host a conference call today, Tuesday, August 14, 2007 at
10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) to discuss the 2007 second
quarter financial results. The dial-in number for the call is 416.850.9144 (a
Conference Code is not required). A replay of the conference call will be
available today, Tuesday, August 14, 2007 after 1:00 p.m. Pacific Time
(4:00 p.m. Eastern Time) until Tuesday, August 28, 2007. The replay number is
416.695.5800 and the Conference Code is 39984.

    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. The Company's actual results could differ
materially from those anticipated in such forward-looking statements as a
result of numerous factors that may be beyond the Company's control.
Forward-looking statements are based on the expectations and opinions of the
Company'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       Six Months Ended
                                     June 30,                June 30,
                                 2007        2006        2007        2006
    ------------------------------------------------- ----------- -----------
    Revenue
      Licenses and products   $  323,473  $  634,128  $  413,721  $  886,656
      Services and maintenance   688,330     988,952   1,418,003   1,472,363
                              ----------- ----------- ----------- -----------
        Total revenue          1,011,803   1,623,080   1,831,724   2,359,019
    Cost of revenue              291,821     372,589     514,043     590,314
                              ----------- ----------- ----------- -----------
    Gross margin                 719,982   1,250,491   1,317,681   1,768,705
                              ----------- ----------- ----------- -----------
    Operating expenses
      Selling, general and
       administrative            620,592     658,330   1,387,456   1,246,617
      Research and development   499,049     494,625   1,037,212   1,004,877
                              ----------- ----------- ----------- -----------
        Total operating
         expenses              1,119,641   1,152,955   2,424,668   2,251,494
                              ----------- ----------- ----------- -----------
    Earnings (loss)from
     operations                 (399,659)     97,536  (1,106,987)   (482,789)
    Interest and other income
     (expense)                  (111,256)    (34,903)    (70,965)     21,364
    Gain on sale of marketable
     securities                        -           -     334,143           -
    Gain on dilution of
     subsidiary interest               -           -           -     950,000
                              ----------- ----------- ----------- -----------
    Net earnings (loss) and
     other comprehensive
     income for the period    $ (510,915) $   62,633  $ (843,809) $  488,575
                              ----------- ----------- ----------- -----------
                              ----------- ----------- ----------- -----------
    Earnings (loss) per common
     share
      Basic                   $    (0.12) $     0.02  $    (0.20) $     0.12
      Diluted                 $    (0.12) $     0.02  $    (0.20) $     0.12
                              ----------- ----------- ----------- -----------
                              ----------- ----------- ----------- -----------
    Weighted average number
     of common shares
     outstanding
      Basic                    4,168,346   4,140,789   4,158,008   4,140,789
      Diluted                  4,168,346   4,142,189   4,158,008   4,143,824
    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)

                                                       June 30,  December 31,
                                                         2007        2006
                                                      ----------- -----------
    Cash and cash equivalents                         $1,921,365  $3,000,615
    Accounts receivable, net                           1,144,030   1,234,605
    Inventory                                            202,627     203,385
    Prepaid expenses and other                           149,928     272,874
    Property, plant and equipment, net                   178,320     166,506
    Total assets                                       3,596,270   4,877,985
    Accounts payable and accrued liabilities             427,007     919,102
    Deferred revenue                                     557,307     606,886
    Total liabilities                                    984,314   1,525,988
    Total shareholders' equity                         2,611,956   3,351,997
    

    %SEDAR: 00023157E




For further information:

For further information: Robert Heath, President & CEO, Triant; Mark
Stephens, CFO & Corporate Secretary, Triant, Triant Holdings Inc., (604)
697-5090, mail@triant.com

Organization Profile

TRIANT HOLDINGS INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890