WANTED Technologies Reports a 19% Increase in Revenues and Record Net Income of $372,000 for the Third Quarter
WANTED’s Trailing 12-month EBITDA reaches $1.6 million as momentum in
Human Capital marketplace accelerates
-- Revenues of $1,802,155, an increase of 19%, or $291,607 compared to revenues of $1,510,548 in the third quarter of fiscal 2012. -- Record net income of $372,442 compared to a net income of $17,094 in the third quarter of fiscal 2012, an increase of $355,348. -- Record EBITDA of $495,356, compared to an EBITDA of $138,882 in third quarter of fiscal 2012, an improvement of $356,474. -- Fifth consecutive quarter of profitability, leading to an EBITDA of $1,576,027 and a net profit of $1,094,682 for the trailing twelve month period. -- Growth of 25% in the Company's recurring revenue base in US dollars, from an annualized value of 5.7 million as of March 31st, 2012 to 7.1 million as of March 31st, 2013. -- Year-over-year increase of 2,154 in the number of professionals from the Corporate and Staffing sectors receiving WANTED's data and analysis either through direct sales or through partnerships, to reach a total of 4,047 as of March 31st, 2013.
QUEBEC CITY, May 23, 2013 /CNW Telbec/ – WANTED Technologies (TSXV: WAN), the leading source of business intelligence for the talent marketplace,
reported today revenues of $1,802,155 for the third quarter ending
March 31, 2013, a 19% gain over the same quarter of the prior year. For
the first nine months of fiscal 2013, revenues increased 21% to reach
$5,105,925, compared to $4,213,524 for the first nine months of the
previous fiscal year. Net income also rose to $372,442 in the third
quarter compared to a net income of $17,094 for the same period last
year, leading to a cumulative net income of $821,222 for the first nine
months of the year, an improvement of $1,108,292 over the net loss of
$287,070 recorded during the first nine months of the prior year. All
amounts are in Canadian dollars, unless otherwise indicated.
The positive results achieved during the third quarter reflect continued
growth in sales of the Company’s products into the Corporate and
Staffing sectors. Quarterly revenues for the Corporate and Staffing
segments were up 76% year-over-year.
“These results and the trend we have seen over the past five quarters
are evidence of two, very positive attributes of our business,” said
Bruce Murray President and CEO.
“First, the Human Capital marketplace is moving more rapidly toward
adopting a more information-driven approach to recruiting. And second,
WANTED’s business model of cloud-based analytical solutions is an
extremely efficient way to deliver these products.”
“WANTED’s Corporate and Staffing clients use the Company’s products to
make more effective business decisions to recruit and retain the best
employees. The core of the product set describes supply and demand for
talent and helps human resource professionals focus on objective market
data when making important personnel decisions.”
As of March 31, 2013, contracts in hand, in US dollars, represented
approximately 7.1 million dollars in annualized recurring revenues.
This compares with 5.7 million dollars as of March 31, 2012, an
increase of 25%. At the end of third quarter of fiscal 2013, 68% of the
recurring revenue base, in US dollars, was supported by contracts from
the Staffing, Corporate and Government sectors. This compares to 58%
one year earlier.
Total operating costs remained relatively flat with total expenses of
$1,339,523 in the third quarter of fiscal 2013 compared to $1,317,920
in the third quarter of fiscal 2012, an increase of 1.6%. For the first
nine months of fiscal 2013, operating costs totalled $3,950,155,
compared to $4,116,003 for the first nine months of the previous fiscal
year, a decrease of $165,848 or 4%. This decrease mostly result from a
decrease of $294,124 in marketing and selling expenses, partially
offset by an increase of $117,337 in research and development expenses.
EBITDA of $495,356 for the three-month period ended March 31, 2013
represented a positive variation of $356,474 over the corresponding
period of prior year. For the first nine months of fiscal 2013, EBITDA
totalled $1,181,350, compared to an EBITDA of $71,190 in the first nine
months of the previous year, an improvement of $ 1,110,160. EBITDA
represents the net income before net finance costs excluding gain or
loss due to variation in foreign exchange, income taxes on net income,
and amortization and impairment of property, plant and equipment and
intangible assets. As International Financial Reporting Standards do
not provide a standardized definition for this measure, it may not be
comparable to similar measures used by other companies.
The net income for the third quarter of fiscal 2013 was $372,442, or
$.016 per share. This compares to a net income of $17,094 for the third
quarter of fiscal 2012 or $.001 per share. This improvement of $355,348
mostly results from an increase of $321,487 or 23% in gross margin
combined with a positive variation in foreign exchange gains (losses)
of $57,683. Net income for the nine-month period ended March 31, 2013
totalled $821,222, compared to a net loss of $287,070 for the same
period of fiscal 2012, a positive variation of $1,108,292.
Three-month periods ended Nine-month periods ended March 31, March 31, 2013 2012 2013 2012 (unaudited) (unaudited) (unaudited) (unaudited) $ $ $ $ Revenues 1,802,155 1,510,548 5,105,925 4,213,524 Cost of sales (103,087) (132,967) (289,263) (363,115) Gross Margin 1,699,068 1,377,581 4,816,662 3,850,409 Expenses Research and (492,372) (1,652,045) (1,534,708) development (580,282) Marketing and (551,720) (1,405,567) (1,699,691) selling (503,588) Administrative (249,315) (265,621) (878,551) (863,671) Other financial (8,024) (13,992) (17,750) expenses (6,338) Other (183) (183) (1,339,523) (1,317,920) (3,950,155) (4,116,003) Operating income (loss) 359,545 59,661 866,507 (265,594) Finance income 34,075 2,452 10,947 26,882 Finance costs (2,264) (30,474) (7,249) (9,554) Income (loss) before tax 391,356 31,639 870,205 (248,266) Current tax expense (38,483) (34,114) (107,690) (97,511) Deferred tax income 19,569 19,569 58,707 58,707 Net income (loss) and comprehensive income (loss) 372,442 17,094 821,222 (287,070) Net income (loss) per share : Basic 0.016 0.001 0.034 (0.012) Diluted 0.015 0.001 0.034 (0.012)
As at March 31, 2013, WANTED had $2,761,322 in cash and temporary
investments, compared with $2,095,031 as at June 30, 2012, an increase
of $666,291. This increase in the Company’s liquidity is the result of
positive cash flows from operating activities of $837,694, partially
offset by cash flows used by investing activities of $29,526 and cash
flows used by financing activities of $141,877 during the first nine
months of the year.
As at March 31, 2013, total assets amounted to $7,122,338 compared with
$6,428,932 as at June 30, 2012, an increase of $693,406.
Those interested will be able to access the information on the March 31,
2013 unaudited interim 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 Thursday, May 23, 2013.
About WANTED Analytics(TM)
WANTED Analytics(TM) helps recruiting organizations make better decisions faster with
real-time business intelligence on jobs, employers, and talent. Analytics(TM) brings together, for the first time, years of hiring demand and talent
supply data to create a true talent intelligence platform for
Clients in the staffing, HR, RPO, media, and government sectors use
WANTED Analytics(TM) to find sales leads, analyze employment trends, gather competitive
intelligence, forecast economic conditions, and source hard-to-fill
About WANTED Technologies Corporation
WANTED Technologies (TSX-V:WAN) provides real-time business intelligence
for the talent marketplace. 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. WANTED began collecting detailed
Hiring Demand data in June 2005, and currently maintains a database of
more than 800 million unique job listings. For more information or to
sample WANTED’s services, visit www.wantedanalytics.com.
WANTED is also the exclusive data provider for The Conference Board’s
Help Wanted OnLine Data Series®, the monthly economic indicator of
Hiring Demand 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.
SOURCE WANTED TECHNOLOGIES CORP.