Maximizer Software Inc.

Maximizer Software Inc.

April 14, 2009 08:00 ET

Maximizer Software Announces First Quarter 2009 Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 14, 2009) - Maximizer Software Inc. (TSX:MAX), a leading provider of simple, accessible customer relationship management (CRM) solutions for small to medium-sized businesses (SMBs), today announced financial results for its first quarter ended February 28, 2009. All results are reported in US dollars.

For the first quarter of 2009:

- The company's total revenues were US$2.8 million compared to US$4.4 million in the corresponding quarter of 2008.

- Operating expenses and cost of sales was US$3.5 million compared to US$4.7 million in the corresponding quarter of 2008.

- Other expenses were US$0.1 million consistent with the corresponding quarter of 2008.

- Net loss under generally accepted accounting principles (GAAP) was US$0.8 million, compared to a net loss of US$0.3 million in the corresponding quarter of 2008.

"The current adverse economic conditions impacted Maximizer's first quarter results on a global basis as revenues declined in all three regions. However, the Company took action to reduce expenses in response to the realities of this economy and will continue to pursue measures that improve bottom line results," said John Caputo, president. "During the quarter the Company also released 'Maximizer CRM 10.5 Freedom' to favorable reviews as we continue our long-term focus on mobile CRM."

First Quarter 2009 Highlights:

- Product releases:

-- In February 2009, Maximizer released 'Maximizer CRM 10.5 Freedom' with enhanced mobile CRM functionality focused on BlackBerry

- Media coverage:

-- 'Maximizer Mobile CRM' was featured in a PC World article titled, "10 Must-Have Apps for Your BlackBerry" that was also syndicated in The Washington Post

-- Other media coverage included: DM News, IT Business, PC Magazine, RCR Wireless and Wireless Week

- Revenues:

-- Americas: US$1.7 million (Q1 2008: US$2.8 million)

-- EMEA: US$0.5 million (Q1 2008: US$0.9 million)

-- Asia Pacific: US$0.6 million (Q1 2008: US$0.8 million)

- Profit/loss:

-- Americas: net loss US$0.3 million (Q1 2008: net income US$0.1 million)

-- EMEA: net loss US$0.2 million (Q1 2008: net loss US$0.1 million)

-- Asia Pacific: net loss US$0.3 million (Q1 2008: net loss US$0.3 million)

- Customers:

-- Over 100 new and over 270 existing purchased or upgraded more than 1,700 seats of 'Maximizer CRM 10' and 'Maximizer CRM 10.5'

-- Over 290 new and over 370 existing customers purchased more than 1,100 licenses of 'Maximizer CRM 10 Entrepreneur Edition'

-- Over 6,000 licenses were shipped to customers under the Company's maintenance program

-- New customers included: Carver Technologies; Central Earthmoving Company Pty Ltd; DCL Engineering Group; DA Criswell Sales Inc.; Department of Business and Employment, Garibaldi Glass Industries Inc.; GMG Property Services; Intellivend; Ista Enerji Hizmetleri Ticaret Ltd.; Mastercare Property Services Pty Ltd.; Midwest Equipment; Ortho Active Appliances Ltd.; Sioux City Truck Sales Inc.; The Washington Times Foundation; and Unlaub Company

About Maximizer Software

Maximizer Software is a leading provider of simple, accessible, customer relationship management (CRM) solutions, providing the best value for small and medium-sized businesses. 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 streamlining sales, marketing and customer service 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: Siemens, Societe Generale, HSBC, TD Securities, Lockheed Martin, Brian Tracy International, Fisher & Paykel Healthcare, Oxford University Press, and Cathay Pacific. 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
February 28, February 29,
2009 2008
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(unaudited) (unaudited)

Revenues $ 2,791 $ 4,425

Cost of sales 595 977
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Gross profit 2,196 3,448
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Operating expenses
Selling and marketing 1,022 1,433
Research and development 703 879
Administrative and other 1,142 1,301
Amortization of plant and equipment 49 62
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2,916 3,675
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Loss from operations (720) (227)

Other (income) expenses
Restructuring costs 76 0
Interest expense 46 38
Foreign exchange (gain) loss (35) 47
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87 85
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Net loss $ (807) $ (312)
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