Amadeus discloses the results of its second quarter of fiscal 2007
Quebec City, March 2nd, 2007 — Amadeus International Inc. (TSX-V: AII), a pioneer and leader of advanced compliance process control solutions, today announced the results of its second quarter ended December 31, 2006.
Amadeus’ revenues have decreased by 28.9% to $447,678 for the quarter ended December 31, 2006, compared with $630,073 for the corresponding period last year. This decrease arises mainly from an important non-recurring development contract in the quarter ended December 31, 2005, combined with the non-renewal of some eQRP® customers’ service plans. For the first six months of fiscal 2007, revenues have increased by 7.2% to $1,037,813, compared with $967,748 for the same period a year earlier.
“Over the last year, we have reorganized our sales and marketing organization to drive growth and the results are promising, said Yves Leblanc, President and CEO of Amadeus. We have witnessed a substantial increase of sales of our flagship software platform, eQCM®, which in turn drives the delivery of related professional services and medium term on going service plans”, he added.
The loss before financial expenses, income tax on earning and amortization (EBITDA) decreased by 25.8% to stand at $302,335, versus $407,625 for the corresponding quarter last year. For the first semester of fiscal 2007, the loss before financial expenses, income tax on earning and amortization decrease by 50.7 % totaled $479,242, as opposed to $973,030 for the corresponding semester the previous year. The decrease in EBITDA is mostly attributable to the increase in licences sales, which have increased by 20.5%, and to the downturn in operating costs that result from the business re-engineering the Company underwent at the end of the last fiscal year. Amadeus incurred a net loss on continuing operations of $431,675, or $0.01 per share, for its second quarter of fiscal 2007, as opposed to a net loss on continuing operations of $629,345, or $0.02 per share, for the corresponding period of fiscal 2006.
(Canadian dollars) |
Semesters ended December 31, |
|
| 2006 | 2005 | |
| $ | $ | |
| Revenues | 1,037,813 | 967,748 |
| Gross profit | 304,064 | 260,610 |
| Net loss from continuing operations | (805,658) | (1,369,447) |
| Net earnings from discontinued operation | 42,875 | 502,732 |
| Net loss | (762,783) | (866,715) |
| EBITDA* | (479,242) | (973,030) |
* Definition of EBITDA: Earnings (loss) before financial expenses, income tax on earning and amortization. EBITDA is presented as an additional measurement of earnings in order to assist the reader to establish the Company’s ability to generate cash from activities and to acquit its financial charges. It is also an indicator generally used for purposes of evaluation. Canadian generally accepted accounting principles give no standard interpretation to this measurement and it cannot therefore be compared to similar measurements used by other enterprises.
Current assets amounted to $1,494,218 as at December 31, 2006, versus $2,261,461 as at June 30, 2006. Current liabilities totaled $1,523,586 as at December 31, 2006, versus $2,105,532 as at June 30, 2006.
About Amadeus International
Amadeus International is a pioneer and leader in compliance process control solutions. Its flagship product, eQCM®, is a flexible, Web-based integrated suite of applications that allow organizations to help manage and control compliance and quality by automating processes such as document management, CAPA, nonconformances, customer satisfaction, audits, and other related quality and business processes. The application suite is coupled with powerful business intelligence capabilities, enterprise content management, and related technologies that help organizations achieve sustained compliance. Amadeus International’s global headquarters are located in Quebec City, Canada. Amadeus’ solutions are distributed across four continents.
- 30 -
For further information:
Frédéric Garand, Chief Financial Officer
Tel: (418) 525-0606, ext. 2268
E-mail: frederic.garand@amadeussolutions.com
Isabelle Rivoal, Marketing and Communications Director
Phone: +1 (418) 525-0606, ext. 2231
E-mail: isabelle.rivoal@amadeussolutions.com
