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  • Canada NewsWire, 05/2011
    Newsletter

    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.