SAN DIEGO, March 5, 2008 (PRIME NEWSWIRE) -- Superclick, Inc. (OTCBB:SPCK), a technology leader in IP infrastructure management solutions to the hospitality industry today announced financial results for the first quarter ended January 31, 2008.
Financial Results
Superclick reported net revenues of $1,447,855 for the first quarter ended January 31, 2008, an increase of 90.1% from the $761,635 reported for the same period last year. The positive variance in the Company's revenue was driven by a 208% increase in installation revenue, and a 37% increase in help desk revenue. Superclick added approximately 14,700 rooms to its help desk for the period.
Gross profit for the three months ended January 31, 2008 and 2007 was $646,734 and $370,992, respectively. The 74.3% increase in gross profit on a year-over-year basis was driven by higher revenue across all parts of the Company's business.
Selling, general and administrative ("SG&A") expenses for the three months ended January 31, 2008 and 2007 were $375,607 and $304,578, respectively. On a percentage basis, SG&A for the quarter represented approximately 26% of net revenue, compared with 40% net revenue for the same period last year.
Research and development expenses for the three months ended January 31, 2008 and 2007 were $45,315 or 3.1% of net revenue and $37,684 or 4.9% of net revenue, respectively. The three month year-over-year increase of $7,631 was due primarily to the unfavorable foreign exchange effect as a result of the stronger Canadian dollar compared to the United States dollar.
Superclick is pleased to report net income for the three months ended January 31, 2008 of $178,348 or 12.3% of net revenue compared to a loss of ($61,471) for the same period last year. For the respective periods, net income per share was $0.004 and ($0.002). On a fully diluted basis, net income per share for the current quarter was $0.002. Total cash on hand as of January 31, 2008 was $826,296 compared with $789,591 at October 31, 2007.
The basic and fully diluted weighted average shares for the current quarter was 42,255,740 and 72,732,431 respectively. The basic weighted average shares for the quarter ended January 31, 2007 was 37,429,465.
Sandro Natale, Superclick's CEO, commented that "We are pleased to have reported another strong financial quarter with improving business economics to our shareholders. Our products and services continue to receive validation in the market place and we are committed to maintaining our technology lead to offer reliable and world-class IP infrastructure management to our customers."
Highlights for the Quarter Include: * Increase in rooms under customer support of approximately 14,700 * Continued expansion in the market with leading brands both in the U.S. and Asia * Expansion of help desk support offering to deliver world-class VOD support * Increase of sales force to address growth opportunities
Mr. Natale stated further that: "Our stated goals heading into fiscal 2008 were to continue our aggressive strategy to increase market share for our IP infrastructure management solutions on an organic basis and we are pleased to announce that strategy is succeeding. We will look forward to sharing more on the progress of our company and on its financial results of the past quarter and for the fiscal year ended October 31, 2007 at our Annual Shareholder Meeting in Montreal on April 24, 2008."
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(tm)), Monitoring and Management Application (MAMA(tm)) and Media Distribution System (MDS(tm)) in worldwide hospitality, conference center and event, multi-tenant unit (MTU) and university markets. Current clients include MTU residences and Candlewood Suites(r), Crowne Plaza(r), Four Points by Sheraton(r), InterContinental Hotels Group PLC(r), Hilton(r), Holiday Inn(r), Holiday Inn Express(r), Hampton Inn(r), Marriott(r), Novotel(r), Radisson(r), Sheraton(r), Westin(r) and Wyndham(r) 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.