Q1 2011 Software License Revenues Increase By 175% Over Q1 2010
29 Junho 2011 - 10:00AM
Marketwired Canada
Preo Software Inc. (Preo) (TSX VENTURE:PKM) is pleased to report a 175% increase
in revenues generated from software licenses as compared to the same period last
year. In addition, the Company achieved gross margins of 90% during the three
months ended March 31, 2011.
As a result, net loss during Q1 2011 was 21.5% lower than Q1 2010 ($451,555 vs
$575,324).
"I am very pleased with our first quarter numbers", said Gary McCone, Preo's
President and CEO. "This is further evidence that we are gaining traction in our
commercialization initiatives. The commencement of product roll out by our
current channel combined with the addition of new industry leading partners
bodes well for future quarters."
In addition, during the quarter, the Company closed the previously announced
private placement of convertible debentures for gross proceeds of $1,120,000. An
additional $80,000 was raised subsequent to quarter end.
The following is the Company's first quarter statement of comprehensive income:
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Three months ended Three months ended
March 31, 2011 March 31, 2010
(unaudited) (unaudited)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Continuing operations
Revenue
Software licenses $ 278,055 $ 101,166
Consulting services - 94,923
---------------------------------------
278,055 196,089
Cost of sales (26,784) (33,864)
---------------------------------------
Gross profit 251,271 162,225
Expenses
Research and development (232,266) (231,846)
General and administration (213,009) (191,433)
Sales and marketing (196,130) (205,701)
Stock-based compensation (56,047) (47,619)
Amortization (7,237) (10,039)
Foreign exchange loss (2,770) (11,720)
---------------------------------------
(707,459) (698,358)
Finance expense
Accretion (10,488) (39,191)
Interest (6,926) -
---------------------------------------
(17,414) (39,191)
---------------------------------------
Net loss (473,602) (575,324)
Future tax recovery 22,407 -
---------------------------------------
Total comprehensive loss (451,555) (575,324)
---------------------------------------
---------------------------------------
Earnings per share:
Basic and diluted earnings per share $ (0.01) $ (0.03)
About Preo Software Inc.:
Preo Software Inc. is the market leader in providing Print Knowledge Management
Systems (PKMS) to enterprises, select OEM's, and Managed Print Services
providers around the world. Printelligence, the company's award winning flagship
SaaS (Software as a Service) offering empowers corporate clients to optimize
their print assets, reduce print volumes, all the while yielding significant
cost savings and reducing the environmental footprint.
Preo maintains offices in both Canada and the United States with products
deployed in over three thousand organizations worldwide.
Printelligence(TM) MPS is a SaaS based print knowledge management system that is
licensed to select Original Equipment Manufacturers (OEM's) and Managed Print
Providers to seamlessly integrate into their MPS business processes.
Printelligence(TM) MPS is an enterprise application that empowers
knowledge-workers by promoting accountability, awareness and positive behavioral
change to maximize value and reduce the cost of print ...without negatively
affecting end-user productivity.
This news release contains forward looking statements. Actual results may vary
significantly.
Preo Software Inc. (TSXV:PKM)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Preo Software Inc. (TSXV:PKM)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024
