Maximizer Software Inc.

Maximizer Software Inc.

October 14, 2009 13:35 ET

Maximizer Software Announces Third Quarter 2009 Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2009) - Maximizer Software Inc. (TSX:MAX), a leading provider of simple, accessible customer relationship management (CRM) and mobile CRM solutions for small to medium-sized businesses (SMBs), today announced financial results for its third quarter ended August 31, 2009. All results are reported in US dollars.

For the third quarter of 2009:

- Total revenues were US$3.2 million compared to US$4.0 million in the corresponding quarter of 2008.

- Operating expenses and cost of sales was US$3.3 million compared to US$4.6 million in the corresponding quarter of 2008.

- Other expenses were US$0.1 million compared to other income of US$0.1 million in the corresponding quarter of 2008.

- Net loss under generally accepted accounting principles (GAAP) was US$0.1 million compared to a net loss of US$0.5 million in the corresponding quarter of 2008.

"Although revenues in the third quarter of 2009 were impacted by the current global economic conditions, we are pleased with the results from the cost containment initiatives we have implemented", said Vivek Thomas, president. "The company is now well positioned to take advantage of the expected economic recovery".

Third Quarter 2009 Highlights:

- Revenues:

-- Americas: US$1.9 million (Q3 2008: US$2.1 million)

-- EMEA: US$0.7 million (Q3 2008: US$1.0 million)

-- Asia Pacific: US$0.7 million (Q3 2008: US$0.9 million)

- Profit/loss:

-- Americas: net income of US$0.1 million (Q3 2008: net loss US$0.4 million)

-- EMEA: net loss of a nominal amount (Q3 2008: net income US$0.1 million)

-- Asia Pacific: net loss of US$0.2 million (Q3 2008: net loss US$0.1 million)

- Media coverage/awards:

-- 'Maximizer Mobile CRM' was featured in a article titled: "Maximizer Mobile CRM Freedom solution for BlackBerry"

-- Maximizer CRM was named "Leader: Small-Business Suite CRM" by CRM magazine

-- Ongoing media coverage included: Mobile Enterprise, eWeek, Sales & Marketing Management Magazine, Destination CRM, Hospitality Technology, CRM Today

- Customers:

-- Over 120 new and over 320 existing customers purchased or upgraded more than 2,100 seats of 'Maximizer CRM 10' and 'Maximizer CRM 10.5'

-- Over 260 new and over 320 existing customers purchased more than 1,000 licenses of 'Maximizer CRM 10 Entrepreneur Edition'

-- Over 2,600 licenses were shipped to customers under the Company's maintenance program

-- New customers included: Abrale; ACF Technologies; Cole Group, DST Global Solutions Pty Ltd; EHI Australia; Filmquest Group Inc; Genesis Solutions Design; GZA Geo Environmental; Hamilton Island Enterprises; MapData Sciences Pty Ltd; Microbiology International; Meramak Bankcard Inc.; Sound Design Technologies; Team Industrial Services; The University of Hong Kong

About Maximizer Software

Maximizer Software is a leading provider of simple, accessible, customer relationship management (CRM) and mobile CRM solutions, providing the best value for small and medium-sized businesses and divisions of large enterprises. As a pioneer in the CRM industry for more than 20 years, Maximizer offers sales, marketing, and customer service staff and managers access to customer information through mobile devices, online or the desktop. Maximizer's solutions enable organizations to accelerate business growth by centralizing information and streamlining processes, while exceeding client expectations. Maximizer Software has sold over one million licenses to more than 120,000 customers, ranging in size from entrepreneurs to multi-national organizations, including: Cathay Pacific, Fisher & Paykel Healthcare, HSBC, Ipsos Canada, Oxford University, Siemens, Societe Generale and TD Securities. Maximizer Software is a global business with offices and over 400 business partners throughout the Americas, Europe/Middle East/Africa and Asia Pacific. For more information, please visit:

This release may contain certain forward-looking statements reflecting Maximizer Software Inc.'s current expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including without limitation, changes in market and competition, technological and competitive developments, and potential downturns in economic conditions generally. Additional information on these and other potential factors that could affect the Company's financial results are detailed in documents filed from time to time with the provincial securities commissions in Canada. All trademarks or registered trademarks stated herein are properties of their respective owners.

Maximizer Software Inc.
Consolidated Statements of Operations
(in thousands of US dollars)

For the three months ended For the nine months ended
August 31, August 31,
2009 2008 2009 2008
(unaudited) (unaudited) (unaudited) (unaudited)

Revenues $ 3,233 $ 4,032 $ 9,081 $ 12,992

Cost of sales 544 819 1,706 2,705

Gross profit 2,689 3,213 7,375 10,287
Selling and
marketing 959 1,352 2,954 4,114
Research and
development 704 877 2,120 2,739
and other 993 1,491 3,111 4,324
Amortization of
plant and
equipment 55 68 154 195
2,711 3,788 8,339 11,372

Loss from
operations (22) (575) (964) (1,085)

Other (income)
costs 0 0 71 0
Interest expense 53 37 147 111
Foreign exchange
(gain) loss 26 (128) 152 (128)
79 (91) 370 (17)

Net loss $ (101) $ (484) $ (1,334) $ (1,068)

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