Sitebrand Inc.
TSX VENTURE : SIB

Sitebrand Inc.

April 30, 2010 16:18 ET

Sitebrand Announces First Quarter 2010 Results

GATINEAU, QUEBEC--(Marketwire - April 30, 2010) -Sitebrand Inc (TSX VENTURE:SIB), a leader in online marketing solutions today announced first quarter results for its three months ending February 28, 2010. 

Highlights for the first quarter include:

  • Sitebrand achieved $452,295 in revenues, which compares to $432,746 in the previous quarter (Q4 2009). This was an increase of $19,549 or 5%.
  • A quarterly loss of $112,164 compared to $286,586 in Q4 2009, a decrease of 61%.

"In Q1, Sitebrand continued to take aggressive steps to reposition and refocus itself in the emerging web personalization market. After validating our technology with a successful licensing arrangement and beta trials, Sitebrand is now preparing to launch relevance7. With improvement in market conditions, we believe we're well positioned with a combination of leading edge product and an experienced team of personalization experts" said Chris Corman, Sitebrand President and CEO

Sitebrand delivered the following results for the first quarter ended February 28, 2010:

Revenue: For the first quarter of 2010, revenue totaled $452,295 compared to $432,746 for the previous quarter (Q4 2009), an increase of 5%. Since the significant contraction in business resulting from the collapse in consumer spending in North America beginning in late 2008, the company has once again resumed its upward trend in revenue growth.

Net loss and Earnings per Share: Net loss and comprehensive loss for the first quarter of 2010 was $112,164 compared to a net loss and comprehensive loss of $286,586 for the fourth quarter of 2009. The reduced loss was a result of cost reductions including decreased staffing levels, decreased bad debt expense, and improved operating efficiencies.

The cash provided by operations in the three months ended February 28, 2010 was $43,883 as compared to cash used of $99,553 in the three months ended November 30, 2009. The basic and diluted loss per share for the first quarter of 2010 and the fourth quarter of 2009 were $0.01 and $0.01 respectively.

About Sitebrand

Sitebrand personalizes the customer experience for leading online websites across North America with relevant messaging to boost conversion rates, build visitor loyalty, brand, and grow revenues. Sitebrand's personalization platform is an innovative, easy to integrate online marketing solution supported by a seasoned team of personalization experts. Founded in 2000, Sitebrand is the trusted leader in web personalization, serving nearly 500 million personalized experiences every month. Sitebrand customers include Smashbox Cosmetics, Kiyonna, James Allen Jewelers, Roots Canada, and BMO Financial.

Disclaimer: Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The company assumes no obligation to update any forward-looking statements contained in this release. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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