- 48% Increase in Revenue and 107% Increase in Net Income for the
Three Month Period on a Year-Over-Year Basis
- 569% Increase in Net Income for the Six Month Period on a
Year-Over-Year Basis
SAN DIEGO - June 16, 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 second quarter ended April 30, 2008.
Financial Results for the Three Months Ended April 30, 2008
Superclick reported net revenues of $1,838,306 for the second quarter ended April 30, 2008, an increase of $390,451, or 27% on a sequential basis and $600,657, or 48% year-over-year. Product sales contributed $1,075,888 to the total net revenues, an increase of $408,171, or 61% year-over-year, while services contributed $762,418 to total net revenues, an increase of $192,486, or 33% year-over-year. Factors that contributed to growth in all areas of the business were increased sales and increases in rooms under support.
Gross profit for the three months ended April 30, 2008 was $1,019,243, an increase of $372,509, or 57% on a sequential basis and $330,689, or 48% year-over-year. Gross margin for the period ended April 30, 2008 was 55%, the same as reported during last year's same quarter period.
Selling, general and administrative ("SG&A") expenses for the three months ended April 30, 2008 were $390,674, an increase of $15,067, or 4% on a sequential basis and a decrease of $45,029, or 10% year-over-year. The decrease in SG&A for the period was mainly due to decreases in investor relations and marketing related expenses as well as lower professional fees.
Research and development expenses for the three months ended April 30, 2008 were $44,228, a decrease of $1,087, or 2% on a sequential basis, and an increase of $8,713, or close to 25% year-over-year.
Net income for the three months ended April 30, 2008 was $264,549, or $0.006 basic and $0.004 on a fully diluted basis. Sequentially, net income increased $86,201, or about 48%, and on a year-over-year basis, net income increased for the period by $136,848, or 107%. Weighted average shares outstanding basic and fully diluted for the three month period ended April 30, 2008 were 43,704,356 and 74,522,332, respectively.
Financial Results for the Six Months Ended April 30, 2008
Net revenues for the six months ended April 30, 2008 were $3,286,161, an increase of $1,286,877, or 64% year-over-year. Product sales contributed $1,807,505 to total net revenues, an increase of $902,003, or 99% year-over-year, while services contributed $1,478,656 to total net revenues, an increase of $384,874, or 35% year-over-year.
Gross profit for the six months ended April 30, 2008 was $1,665,977, an increase of $606,431, or 57% year-over-year. Gross margin for the six months ended April 30, 2008 was 50% compared to gross margins of 52% reported for the same period last year.
SG&A expenses for the six months ended April 30, 2008 were $766,281, an increase of $26,000, or almost 4% year-over-year. The increase in SG&A expenses for the six month period is attributed primarily to differences in foreign exchange rates.
Research and development expense for the six months ended April 30, 2008 were $89,543, an increase of $16,344, or about 22% year-over-year.
Net income for the six month period ended April 30, 2008 was $442,897, an increase of $376,667, or about 569% year-over year. Earnings per share on a basic and fully diluted basis were $0.1 and $0.006, respectively, for the six month period ended April 30, 2008. Weighted average shares outstanding basic and fully diluted for the six month period ended April 30, 2008 were 42,980,048 and 74,934,863, respectively.
Sandro Natale, Superclick's CEO, commented that, "Our business economics have continued to improve, which is a validation of our commitment to product development and technology leadership in the hospitality industry for IP infrastructure management. We remain committed to maintaining our leadership position on this level and bringing value throughout the customer chain, from the guest to the hotelier."
Natale commented further, "This quarter was a record quarter for our business in terms of several key financial achievements, including net income and revenue. One of the key highlights was the purchase order we received from the InterContinental Hotel Group for 111 properties to deploy our Multi-Homing application. We are focused on building on this momentum in the market place to increase and maximize value to our shareholders. I want to take this opportunity to thank those shareholders in attendance at our annual meeting this last April."
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.