QUEBEC CITY, May 21, 2014 /CNW Telbec/ - WANTED Technologies (TSXV: WAN), the leading source of data analytics for the talent marketplace, reported today revenues of $2,999,658 for the third quarter ...ending March 31, 2014, a 66% gain over the same quarter of the prior year. For the first nine months of fiscal 2014, revenues increased 44% to reach $7,347,927, compared to $5,105,925 for the first nine months of the previous fiscal year. Net income also rose to $777,491 in the third quarter compared to a net income of $372,442 for the same period last year, leading to a cumulative net income of $2,251,613 for the first nine months of the year, an improvement of $1,430,391 over the prior year. All amounts are in Canadian dollars, unless otherwise indicated. EBITDA of $1,275,793 for the three-month period ended March 31, 2014 represented a positive variation of $780,437 over the corresponding period of prior year. For the first nine months of fiscal 2014, EBITDA totalled $3,074,482, compared to an EBITDA of $1,181,350 in the first nine months of the previous year, an improvement of $ 1,893,132. As noted above, the EBITDA was positively affected by a non-recurring tax credits amounting to $482,640 recorded in the second quarter of fiscal 2014 and non-recurring revenues totalling $960,567 derived from one specific contract executed with a client from the financial sector. EBITDA represents the net income before net finance costs excluding gain or loss due to variation in foreign exchange, income taxes on net income, and amortization and impairment of property, plant and equipment and intangible assets. It is used by managers, analysts, investors and other financial stakeholders to assess the Corporation's performance and management from a financial and operational standpoint. As International Financial Reporting Standards do not provide a standardized definition for this measure, it may not be comparable to similar measures used by other companies. The net income for the third quarter of fiscal 2014 was $777,491 or $0.032 per share. This compares to a net income of $372,442 or $0.016 per share for the third quarter of fiscal 2013. This improvement of $405,049 mostly results from an increase of $1,190,207 or 70% in gross margin, partially offset by an increase of $494,325, or 37%, in operating costs. Net income was also affected negatively by an increase of $369,702 in tax expense resulting from both an increased profitability and the fact that the Company used during the third quarter of fiscal 2014 the remaining balance of the eligible research and development costs available to reduce its income taxes in future years. Favourable variations in foreign exchange rate also contributed positively to the profitability by increasing net financing income by $78,869 in the third quarter of fiscal 2014 compared to the same period of prior year. Net income for the nine-month period ended March 31, 2014 totalled $2,251,613 or $0.093 per share, compared to a net income of $821,222 or $0.034 per share for the same period of fiscal 2013, a positive variation of $1,430,391.
Under the Proposed Transaction, Passport intends to complete a brokered private placement of subscription receipts of Passport for a minimum of CDN$13,000,000 and up to a maximum of CDN$23,000,000 ...at a price of CDN$0.18 per subscription receipt following which Passport proposes to complete a consolidation of its common shares on a 6 for 1 basis. Each subscription receipt issued pursuant to the private placement offering shall entitle the holder thereof to acquire one post-consolidation common share of Passport. Following the consolidation, and the conversion of the subscription receipts, Passport and Amarok propose to complete a three-cornered amalgamation whereby each post-consolidated Passport common share will be exchanged for one Amarok common share at a deemed price of CDN$0.18 per Amarok common share. Immediately following the amalgamation, it is proposed that Amarok will consolidate its common shares on a 5 for 1 basis and change its name from "Amarok Energy Inc." to "Powder Mountain Energy Ltd." (the "Resulting Issuer"). Assuming that the maximum amount of subscription receipts are subscribed for under the private placement and completion of each of the above steps, the Resulting Issuer will have approximately 48,000,000 common shares issued and outstanding at a price of approximately CDN$0.90 per Amarok common share, following the completion of the Proposed Transaction. The LOI contemplates a Plan proceeding by way of a three cornered amalgamation (the "Amalgamation") whereby Amarok will, indirectly through its wholly owned subsidiary ("AcquisitionCo"), acquire all of the issued and outstanding shares of Passport from shareholders of Passport in exchange for shares of Amarok. Prior to the Amalgamation, Passport shall complete a brokered private placement (the "Private Placement") of subscription receipts ("Subscription Receipts") issued at CDN$0.18 per Subscription Receipt on a post-Consolidated (as hereinafter defined) basis for minimum gross proceeds of CDN$13,000,000 (the "Minimum Private Placement Offering") and maximum gross proceeds of up to CDN$23,000,000 (the "Maximum Private Placement Offering" and together with the Minimum Private Placement Offering, the "Private Placement Offering"). Each Subscription Receipt will be convertible into common shares of Passport ("Passport Shares") on a 1 for 1 basis on a post-Consolidated basis without any additional consideration from the holders of such Subscription Receipts. Passport has engaged Integral Capital Markets, a division of Integral Wealth Securities Limited ("Integral") as its exclusive agent to solicit subscriptions for the sale of the Subscription Receipts on a "reasonable best efforts" basis. In consideration for the engagement by Passport, Integral will be paid a cash amount equal to CDN$200,000 on the 32 Degrees Subscription (as hereinafter defined) and 6% of the gross proceeds raised from the issuance of the Subscription Receipts from all other subscribers other than the 32 Degrees Subscription and certain subscribers as agreed between Integral and Passport. The LOI contemplates that CDN$13,000,000 of the Private Placement Offering (the "32 Degrees Subscription") will be subscribed for by 32 Degrees Diversified Energy Fund II (Canadian) L.P. and 32 Degrees Diversified Energy Fund II (US) L.P. (collectively referred to as "32 Degrees"). A portion of the subscription price (the "Subscription Portion") payable by 32 Degrees under the 32 Degrees Subscription will be paid by the transfer and conveyance of approximately 24 1/4 contiguous sections in the Hardy area of Southeast Saskatchewan (the "Hardy Lands") owned by a wholly-owned subsidiary of 32 Degrees ("32 Degrees HoldCo"). The estimated value of the Subscription Portion as of the date of this press release is approximately CDN$702,000. 32 Degrees HoldCo may, in its discretion, acquire additional lands adjacent to, or in close proximity to the Hardy Lands (the "Additional Lands"), prior to the closing of the Private Placement Offering. Additional Lands may, subject to applicable regulatory approval, also be included and form a part of the Subscription Portion. The Subscription Portion amount will equal the aggregate of approximately CDN$702,000 plus the amount paid for Additional Lands by 32 Degrees HoldCo ( if any), the aggregate amount expended or contributed by 32 Degrees HoldCo with respect to the Hardy Lands, and the acquisition price paid by the 32 Degrees HoldCo for the Additional Lands (if any) prior to the completion of the Private Placement Offering (the "Expenditure Amount"), and interest equal to 12% per annum, calculated daily in respect of each contribution or expenditure comprising the Expenditure Amount.
QUEBEC CITY, Oct. 24, 2013 /CNW Telbec/ - WANTED Technologies (TSXV: WAN), the leading source of business intelligence for the talent marketplace, reported today a 20 percent year over year increase ...in revenues and record net income of $1,362,555 or $0.057 per share for fiscal 2013. The Company's annualized recurring revenue base increased 16% during fiscal 2013, reaching $7.2 million in US dollars as of June 30th, 2013. This compares to $6.2 million one year ago. All amounts are in Canadian dollars, unless otherwise indicated. For the fiscal year ended June 30, 2013, WANTED posted revenues of $7,231,219 compared to $6,028,450 for the fiscal year ended June 30, 2012, an increase of $1,202,769 or 20%. These results reflect the successful strategy to diversify the client base and to enter the large market for cloud-based Human Capital management products. Revenues derived from the combined Corporate and Staffing sectors increased 75% during fiscal 2013, and now represent 30% of the Company's fiscal 2013 revenue. This revenue growth is, in part, evidence of an economy that continues to improve, which makes it increasingly difficult for employers and staffing firms to attract and retain talent. The Company's products are designed to enable recruiters identify candidates more efficiently, lowing recruiting costs and decreasing average time-to-hire. Overall operating costs remained stable during fiscal 2013, going from $5,460,655 in fiscal 2012 to $5,421,330 in fiscal 2013, a decrease of approximately one percent. A decrease of $272,084 in Marketing and selling expenses during fiscal 2013 was partially offset by an increase of $250,423 in research and development expenses dedicated to continuous product improvement and the development of new product features targeting the Human Capital Sector.
"By adding salary data to WANTED Analytics(TM), we are providing recruiting professionals with incredible competitive intelligence," said Bruce Murray, President and CEO of WANTED Technologies. "We ...have solved this problem by storing more than 650 million online job ads over the past six years," said Murray. "We look at the ads that contain salary information and organize this data in an easy-to-use interface for recruiters to access when they are looking for people." WANTED Analytics(TM) helps recruiting organizations make better decisions faster with real-time business intelligence on jobs, employers, and talent. Analytics brings together, for the first time, years of hiring demand and talent supply data to create a true talent intelligence platform for hard-to-fill positions.
"WANTED Analytics(TM) significantly improves the sourcing strategy and sourcing process by allowing a company to make intelligent recruiting decisions around where to focus its talent sourcing and ...recruiting activities for maximum chance of recruiting success," said Carl Kutsmode, Partner and Recruiting Solutions Consultant for talentRISE. "We also use Analytics(TM) to help our clients determine where to open their next office location or where to target specific types of difficult-to-find talent by identifying locations where the talent pool is plentiful and easier to recruit with fewer competitors in that market." "Our WANTED Analytics(TM) product makes the recruiting process more efficient, particularly for hard-to-fill positions," said Bruce Murray, President and CEO of WANTED Technologies. "Our goal is to reduce time-to-hire and recruiting costs by providing real-time intelligence on candidate supply and demand in the marketplace," Murray said. WANTED Technologies maintains a data warehouse of more than 600 million online job postings that have been collected since June 2005. The company's flagship product, WANTED Analytics(TM) (www.wantedanalytics.com) is a "software-as-a-service" solution that provides, for the first time, a platform for recruiters and hiring managers to determine together what kind of employee they should be targeting for hire and how difficult it might be to find such employees. The tools and insight in Analytics help recruiters unlock hidden reserves of candidates for hard-to-fill positions.
WANTED's revenues for the quarter ended March 31, 2011 decreased by 2 percent to $1,264,699 compared to $1,285,865 for the corresponding quarter of the previous year. For the nine-month period ended ...March 31, 2011, revenue totalled $3,890,884, compared to $3,565,067 for the same period in the previous fiscal year, an increase of 9%. The majority of WANTED's clients subscribe on an annual basis to the Company's online platform, AnalyticsTM. Recurring revenue contracts with these clients represent approximately 93 percent of WANTED's total revenues for the third quarter of fiscal 2011, compared to 91 percent for the third quarter of fiscal 2010. Negative EBITDA for the third quarter of fiscal 2011 totalled $132,979, compared to a negative EBITDA of $18,541 for the third quarter of fiscal 2010, a variation of $114,438. For the first nine months of fiscal 2011, negative EBITDA totalled $49,142, compared to EBITDA of $39,254 for the first nine months of the previous fiscal year, a decrease of $88,396. EBITDA represents the net earnings before net financial expense, income taxes, depreciation and amortization on property, plant and equipment and intangible assets. As generally accepted accounting principles in Canada do not provide a standardized definition for this measure, it may not be comparable to similar measures used by other companies. Net loss for the quarter ended March 31, 2011 amounted to $270,298 (loss of $0.011 per share) compared to a net loss of $147,413 ($0.006 per share) for the corresponding quarter of the previous year, a negative variation of $122,885. For the first nine months of fiscal 2011, net loss reached $432,131, compared to a net loss of $319,564 for the first nine months of the previous fiscal year, a variation of $112,567. These negative variations result from the combination of increases in loss before other revenue and expenses, partially offset by decreases in losses recorded on foreign exchange. When compared to the same period for the previous year, loss before other revenue and expenses increased $124,443 and $131,008 for the respective three-month and nine-month periods ended March 31, 2011. As for foreign exchange, the unfavourable prevailing exchange rates caused the Company to record currency exchange losses of $30,446 and $87,751 for the third quarter and the nine-month period ended March 31, 2011, representing respective positive variations of $7,102 and $32,452 over the corresponding period of prior year.
"The Job Listing App is an application available on our WANTED Analytics Apps platform that gives users a way to understand Hiring Demand at the level of the individual job," said Bruce Murray, ...WANTED's President and CEO. "Our database contains more than 500 million job openings that have appeared over the past five years. These individual job openings are now searchable by keyword, location and occupation." "We offer an Application Programming Interface-or API-to the Job Listing App," said Murray. "This means that anyone who wants to include current online job openings within their websites can access our database through this API." "Our WANTED Analytics Apps are an integrated set of applications that provide multiple ways of looking at what is taking place in the Human Capital marketplace," said Murray. "This platform links multiple applications to a common underlying set of data and provides a consistent view of the market."
"The new WANTED Analytics Apps platform enables us to offer a new range of services to the Human Capital marketplace," said Bruce Murray, WANTED's President and CEO. "For years, we have been the ...leader in Hiring Demand information; this new platform lays the groundwork for us to begin to integrate intelligence on the Labor Supply side of the employment market." "There are two sides to the employment market-Labor Supply and Hiring Demand," said Murray. "We designed the WANTED Analytics Apps platform to give our clients a complete view of both the Demand and Supply sides of the employment equation." "The real power of the WANTED Analytics Apps platform is the way multiple applications link to each other and to a common underlying set of data," said Murray. "It is also a very extensible platform that will accommodate additional applications that we currently have in development."
WANTED's revenues for the quarter ended December 31, 2009 decreased by 29 percent to $1,143,740 compared to $1,610,643 for the corresponding quarter of the previous year. For the six-month period ...ended December 31, 2009, revenue totalled $2,279,202, compared to $3,021,180 for the same period in the previous fiscal year, a decrease of 25%. The majority of WANTED's clients subscribe on an annual basis to the Company's online platform, WANTED Analytics(TM). Recurring revenue contracts with these clients represent approximately 96 percent of WANTED's total revenues for the second quarter of fiscal 2010, compared to 92 percent for the second quarter of fiscal 2009. Operating costs went from $1,530,992 in the second quarter of fiscal 2009 to $1,289,277 for the second quarter of fiscal 2010, a decrease of 16 percent. For the first six months of fiscal 2010, operating costs totalled $2,335,347, compared to $2,697,513 for the first six months of the previous fiscal year, a decrease of $362,166 or 13 percent. These decreases mostly result from decreases in sales and marketing expenses and administrative expenses. The Company continues to exert prudent levels of control over its expenses considering the current economic conditions. Also contributing to the decrease in operating expenses was a decrease of $11,541 in amortization of intangible assets, resulting from the non-competition agreements being fully amortized as of June 30, 2009. Net loss for the quarter ended December 31, 2009 amounted to $177,925 (loss of $0.007 per share) compared to net earnings of $113,599 ($0.005 per share) for the corresponding quarter of the previous year, a decrease of $291,524. For the first six months of fiscal 2010, net loss reached $172,151, compared to net earnings of $338,348 for the first six months of the previous fiscal year, a decrease of $510,499. These negative variations result from the combination of decreases in earnings before other revenue and expenses and losses recorded on foreign exchange. When compared to the same period for the previous year, earnings before other revenue and expenses decreased $197,524 and $344,648 for the respective three-month and six-month periods ended December 31, 2009. As for foreign exchange, the unfavourable prevailing exchange rates caused the Company to record currency exchange losses of $15,800 and $82,655 for the second quarter and the six-month periods ended December 31, 2009, representing respective negative variations of $138,561 and $253,772 over the corresponding period of prior year.
WANTED's revenues for the quarter ended September 30, 2009 decreased by 19.5 percent to $1,135,462 compared to $1,410,537 for the corresponding quarter of the previous year. The majority of WANTED's ...clients subscribe on an annual basis to the Company's online platform, Analytics(TM) 2.0. Recurring revenue contracts with these clients represent approximately 91 percent of WANTED's total revenues for the first quarter of fiscal 2010, compared to 92 percent for the first quarter of fiscal 2009. As of September 30, 2009, contracts in hand represented approximately $4.3 million dollars in annualized recurring revenues. This compares with contracts in hand totalling approximately $5.2 million dollars as of September 30, 2008, a decrease of 17 percent. This contraction in WANTED'S base of recurring revenues stems from cutbacks largely among WANTED's Media clients, some of whose revenues in the employment category have declined 50 percent during the past year. In spite of this challenging environment in 2009, WANTED was able to secure subscription renewal agreements with its 10 largest media clients, although at reduced levels due to the reductions made in their own sales forces. Operating costs went from $1,166,521 in the first quarter of fiscal 2009 to $1,046,070 for the first quarter of fiscal 2010, a decrease of 10 percent. This decrease mostly results from decreases of $68,192 in sales and marketing expenses and $56,975 in administrative expenses. The Company continues to exert prudent levels of control over its expenses. Also contributing to the decrease in operating expenses was a decrease of $11,542 in amortization of intangible assets, resulting from the non-competition agreements being fully amortized as of June 30, 2009. The Company is continuing its Research and Development efforts to support the introduction of products and services in new markets.
