Serenic Reports Improved Results for Second Quarter Ended August 31, 2011
(firmenpresse) - EDMONTON, ALBERTA -- (Marketwire) -- 10/27/11 -- 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 six months ended August 31, 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 August 31, 2011 for more information.
Quarter Highlights
Please refer to the latest financial statements and MD&A filed on for full financial analysis and details.
FISCAL 2012 SIX MONTH FINANCIAL HIGHLIGHTS
Outlook
Serenic continues to execute its business plan which is focused on two main objectives. Firstly, from an operational perspective, we continue to pursue organic revenue growth by advancing our products, expertise, credibility and market share within the niche markets in which we have historically excelled. Additionally, we plan to augment revenue growth through sales of our Navigator Online "cloud computing" offering ("NOL"). While still early in its roll-out stage we anticipate greater progress in the coming quarters, by addressing larger market segments than were possible in the past. NOL's capabilities can accommodate a broad market segment whose users require varied functionality, which may be different than Serenic has historically delivered with its on-premise licensed applications.
Secondly, from a corporate development perspective, we continue to investigate and pursue potential alternatives to increase business value and subsequently accelerate the potential realization of higher shareholder value. This remains a key objective of the Company.
Serenic continues to serve niche markets that are vibrant and growing both within North America and internationally. However, many of our customers and prospects remain financially conservative and very cautious about committing to investments for new software infrastructure as a result of the enduring global economic uncertainties, a factor which continues to prolong sales cycles. We continue to carefully monitor expenses and prudently manage cash and other resources. Notwithstanding, we will continue to recruit for new personnel and otherwise expand operations where warranted and continue our new product development and current offering enhancement activities to retain our position of leadership within our niche markets.
Serenic continues to be well capitalized with more than $4 million cash on hand and no long term debt at quarter-end which allows it to fund initiatives required to carry out its business plan. Relationships with clients and vendors remain strong and we remain optimistic about the future prospects for all stakeholders of the Company.
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
Chairman
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: 27.10.2011 - 20:16 Uhr
Sprache: Deutsch
News-ID 81266
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contact information:
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EDMONTON, ALBERTA
Kategorie:
Software
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