Amadeus discloses an increase in revenue for its first quarter of fiscal 2007
Quebec City, November 22nd, 2006 – Amadeus International Inc. (TSX-V: AML), a pioneer and leader of advanced compliance process control solutions, today announced that its revenue have increased for its first quarter ended September 30th, 2006.Amadeus’ revenues have increased by 74.8% to $590,135 for the quarter ended September 30th, 2006, compared with $337,675 for the corresponding period last year. This increase mainly arises from sales in the US, which are the direct consequences of the sales and marketing efforts the Company invested within this territory during the last fiscal year. Sales in the US market increased by 413.6%, reaching $333,491 for the first quarter of fiscal 2007, compared with $64,937 for the same period the previous year.
“During this quarter, we signed major deals with US companies. One of these transactions allowed Amadeus to enter a new segment in the life sciences market industry, which is strategic to Amadeus’ development and future growth. More recently, we’ve also signed two Quebec companies: Roctest Telemac and Labrie Environmental Group, which represent another acknowledgement of market’s receptiveness to Amadeus’ products and services in the automated compliance solution area”, said Yves Leblanc, President and CEO of Amadeus.
The loss before financial expenses, income tax on earning and amortization (EBITDA) amount to $199,690, versus $589,745 for the corresponding quarter last year. The decrease in EBITDA is mostly due to the increased gross profit stemming from the increase in sales and the decrease in operating costs that result from the Company’s restructuring at the end of the last fiscal year. Amadeus incurred a net loss on continuing activities of $373,983, or $0.01 per share, for its first quarter of 2007, as opposed to a net loss of $740,102, or $0.02 per share, for the corresponding period of fiscal 2006.
| (Canadian dollars) | Quarter Ended June 30th | |
| 2006 | 2005 |
|
| $ | $ | |
| Revenues | 590,135 | 337,675 |
| Gross profit | 413,525 | 191,508 |
| Net loss from continuing operations | (373,983) | (740,102) |
| Net earnings (loss) from discontinued operation | (4,615) | 274,300 |
| Net loss | (378,598) | (465,802) |
| EBITDA* | (199,690) | (589,745) |
Current assets amounted to $2,232,255 as at September 30th, 2006, versus $2,261,461 as at June 30th, 2006. Current liabilities totaled $2,200,866 as at September 30th, 2006, versus $2,105,532 as at June 30th, 2006. Amadeus decreased its working capital by $124,540 to stand at $31,389 as at September 30th, 2006, compared with $155,929 at the end of fiscal 2006. The decrease in assets is mainly due to the cashing of accounts receivables related to the discontinued activity, as well as cash resources used to finance its operating activities throughout the year.
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.
Any statement that appears prospective shall not be interpreted as such.
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For further information:
Frédéric Garand, Chief Financial Officer
Phone: +1 (418) 525-0606, ext. 2268
frederic.garand@amadeussolutions.com
Isabelle Rivoal, Marketing and Communications Director
Phone: +1 (418) 525-0606, ext. 2231
isabelle.rivoal@amadeussolutions.com
