Superclick Announces Second Quarter Financial Results
Record Gross Margins for the Quarter on Higher Services Revenues
MONTREAL—(Marketwire)—06/09/09—Superclick, Inc. (OTCBB: SPCK), a technology leader in IP infrastructure management solutions to the hospitality industry today announced record financial results for the second quarter ended April 30, 2009.
Key Financial Highlights:
-- Record 58% gross profit, the 10th consecutive quarter of 40%+ gross profit.
-- Record quarterly services revenues of $893,047, an increase of 17% year-over-year
-- 1% year-over-year increase in revenue for the six-month period.
-- 43% year-over-year increase in income for the six-month period.
Financial Results for the Second Quarter and Six Months Ended April 30, 2009
Superclick reported net revenues of $1,447,112 for the quarter ended April 30, 2009, a decrease of 21.3% from the $1,838,306 reported for fiscal year 2008. Lower revenues for the period on a year-over-year basis are due to fewer installations as a response of project delays caused by challenging economic conditions for customers during the quarter. Installation revenue for the quarter was $554,065 compared with $1,075,888 for the same period last year. Services revenues were $893,047, an increase of 17% from the $762,418 reported for the same period last year.
For the year-to-date, Superclick reported net revenues of $3,319,085, an increase of 1% over the $3,286,161 reported for the first six months of fiscal year 2008. Installation revenues for the six months ended April 30, 2009 were $1,616,524, down 10.6% on a year-over-year basis, while services revenues were $1,702,561, an increase of 15.1% over the $1,478,656 reported for the same period last year.
Cost of goods sold decreased 25%, or $212,054 for the quarter ended April 30, 2009. Gross profit for the quarter decreased 17%, or $179,140 on a year-over-year basis to $840,103, while gross margin increased to 58.1% from 55.4% over the same period. The increase in gross margin is due to higher services revenues as a mix of total revenues.
Year-to-date cost of goods decreased $91,390, or 5.6% on a year-over-year basis to $1,528,804. Gross profit increased $124,304, or 7.4% to $1,790,281 for the same period. Gross margins were 53.9%, compared to 50.6% for the same period last year.
Operating expenses for the quarter ended April 30, 2009 increased $49,671, or 11% on a year-over-year basis to $500,688. Income from operations decreased $228,811, or 40.2% over the same period.
Year-to-date, operating expenses increased $53,932, or 6% over the same period last year, to $942,907. Income from operations increased $70,372, or 9% over the same period.
Net income for the quarter ended April 30, 2009 was $233,039, or $0.01 basic and $0.00 per diluted share, compared with net income of $264,549, or $0.01 per basic and diluted share for the same period last year. Net margins increased to 16.1% compared with 14.4% last year.
Year-to-date, net income was $634,494, or $0.01 per basic and diluted share, compared with net income of $442,897, or $0.01 per basic and diluted share for the same period last year. Net margins increased to 19.1% compared with 13.5% last year.
As of April 30, 2009, Superclick had cash on hand of $1,353,716 and accounts receivable of $827,957.
Sandro Natale, CEO of Superclick, said, "Despite challenging economic conditions in the most recent quarter, we continue to improve our profitability with a particular emphasis on controlling our costs and increasing our higher margin servicing business. These efforts resulted in our margins improving to record levels during the quarter. While we expect the second half of this year to continue to be challenging for the hospitality industry, we believe our business is well-positioned to post another year of record revenue and profitability. We will continue to work with our customers to provide a stronger value proposition, and superior service they can offer their guests."
About Superclick, Inc.
Superclick, Inc. (OTCBB: SPCK), through its wholly owned, Montreal-based subsidiary Superclick Networks, Inc., develops, manufactures, markets and supports the Superclick Internet Management System (SIMS™), Monitoring and Management Application (MAMA™) and Media Distribution System (MDS™) in worldwide hospitality, conference center and event, multi-tenant unit (MTU) and university markets. Current clients include MTU residences and Candlewood Suites®, Crowne Plaza®, Fairmont Hotels and Resorts®, Four Seasons Hotels and Resorts®, Four Points by Sheraton®, InterContinental Hotels Group PLC®, Hilton®, Holiday Inn®, Holiday Inn Express®, Hampton Inn®, Mandarin Oriental Hotel Group ® Marriott®, Novotel®, Radisson®, Sheraton®, Westin® and Wyndham® hotels in Canada, the Caribbean and the United States.
Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements with the terms "believes," "belief," "expects," "intends," "anticipates," "will" or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s reports and registration statements filed with the Securities and Exchange Commission.
Contacts:
Corporate Communications
Investor Relations (US)
American Capital Ventures, Inc.
Richard Hull
Office: 305-918-7000