Serenic Reports Improved Results For Q3 Ended November 30, 2011
(firmenpresse) - EDMONTON, ALBERTA -- (Marketwire) -- 01/25/12 -- Serenic Corporation (the "Company" or "Serenic") (TSX VENTURE: SER), an international software developer specializing in integrated financial management and human capital management ("HCM") solutions for Non-Profit organizations, government agencies, and Microsoft Dynamics NAV users, announces its financial results for the three and nine months ended November 30, 2011.
Financial results are summarized as follows:
(1) EBITDA represents earnings before interest, taxes, depreciation, amortization, and stock based compensation. Please review the Serenic Management Discussion and Analysis for the quarter ended November 30, 2011 for more information
Quarter Highlights
FISCAL 2012 NINE MONTH FINANCIAL HIGHLIGHTS
Please refer to the latest financial statements and MD&A filed on for full financial analysis and details.
Outlook
Serenic expects to continue to experience incremental improvement in the business, despite being hampered by a very cautious global market. Selling cycles continue to be prolonged, as most new customers generally conduct significantly more due diligence with their software application purchases than was previously the case. Although such caution continues to delay the closing of new business, what is reassuring is that Serenic's applications are generally successful in most competitive sales situations. We are essentially on pace with sales plans as they relate to our historical products and applications, however at a more modest pace than we had hoped. We are also working diligently on next generation cloud computing (SaaS) products which we expect will be able to facilitate success within new niche markets, with the objective being to garner new customers that our historical on-premise solutions have not specifically addressed to date. Ongoing marketing activities continue to build our sales pipelines and indications confirm management's belief that demand for Serenic's applications and services remain strong, both in North America and internationally.
Corporate development initiatives will also continue as a priority to seek potential merger and acquisition possibilities that may serve to increase revenue and EBITDA, and/or otherwise advance our objective to better deliver value for our shareholders.
While we remain prudent with expenses, we continue to invest in the development of evolutionary products and services, the addition of new employees where required, and into certain other marketing and sales initiatives that we expect will assist the growth of our business. Our balance sheet, cash and working capital positions remain strong in management's opinion, which support our ability to execute our current strategies and plans, essentially unhampered. We continue to look forward to deliver incremental progress in the shorter term, and greater realizable value for stakeholders in the longer term.
About Serenic Corporation
Serenic Corporation publishes mission-critical software products for not-for-profits (NFP), educational institutions and governments. The Company's products are based on leading application and technology platforms from Microsoft, including Dynamics NAV, SQL Server, and .NET, and are distributed in North America and internationally through value-added resellers and a direct sales organization. Serenic Corporation is the exclusive developer of human resource management and payroll products for Microsoft Dynamics NAV ERP users in North America. Serenic has offices in Edmonton, Alberta and Denver (Lakewood), Colorado and staff located throughout the USA, and in Europe and Africa.
ON BEHALF OF THE BOARD OF DIRECTORS
Dwayne Kushniruk, Chairman, SERENIC CORPORATION
Forward Looking Statements
Certain statements contained in this press release, including statements which may contain words such as "could", "should", "expect", "anticipate", "believe", "will", and similar expressions and statements relating to matters that are not historical facts, are forward looking statements. Such forward looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Serenic Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, software industry risks, general business risks, foreign currency risks, economic dependence risks, and credit risks.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Serenic Corporation
Dwayne Kushniruk
1-877-426-5385 x 509
Serenic Corporation
Paul Johnston
CFO
1-877-426-5385 x 509
Cantech Communications
Nick Waddell
Investor Relations
Toll free: (877) 737-3642 x144
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Datum: 25.01.2012 - 21:15 Uhr
Sprache: Deutsch
News-ID 107880
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EDMONTON, ALBERTA
Kategorie:
Software
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