Maximizer Software Inc.
TSX : MAX

Maximizer Software Inc.

July 15, 2008 08:00 ET

Maximizer Software Announces Increased Revenues for Second Quarter 2008 and Appointment of Enzo DiMichele as Vice President, Sales

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 15, 2008) - 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 second quarter ended May 31, 2008. All results are reported in US dollars.

For the second quarter of 2008:

- The company's total revenues increased 9% to US$4.5 million compared to US$4.2 million in the corresponding quarter of 2007.

- Operating expenses and cost of sales were US$4.8 million compared to US$4.2 million in the corresponding quarter of 2007.

- Other income/expenses were expenses of US$0.1 million compared to other income of a nominal amount in the corresponding quarter of 2007.

- Net loss under generally accepted accounting principles (GAAP) was US$0.3 million, compared to US$0.2 million in the corresponding quarter of 2007.

The Company also announced that Enzo DiMichele, Director of Sales, Americas has been promoted to Vice President, Sales, Americas effective July 16, 2008. Mr. DiMichele is a very experienced sales executive having held Vice President and other senior sales executive level positions for over 10 years with software companies including Microsoft, Computer Associates, Pivotal, VantagePoint Systems and InSystems Technologies.

"I'm pleased to report the Company increased its revenue this second quarter compared to the second quarter last year," said John Caputo, President, Maximizer Software. "We're continuing to see a large number of small and medium-sized businesses turn to Maximizer Software for their customer relationship management needs. I'm also very pleased to announce the promotion of Enzo DiMichele to Vice President. Enzo is a strong team player whose leadership, experience and abilities will help drive our Americas sales organization to further improve results."

HIGHLIGHTS

In the second quarter of 2008, Maximizer Software's progress on its four corporate objectives of increasing revenue, increasing profitability, expanding the customer base, and increasing brand recognition was as follows:

Increasing Revenue

Maximizer Software recorded revenues of US$4.5 million, compared to US$4.2 million in the corresponding quarter of 2007. The breakdown by region was as follows:

- The Americas region recorded revenues of US$2.5 million in the second quarter of 2008 compared to US$2.2 million in the corresponding quarter of 2007.

- The EMEA region recorded revenues of US$1.0 million in the second quarter of 2008, the same as the corresponding quarter of 2007.

- The Asia Pacific region recorded revenues of US$1.0 million in the second quarter of 2008, the same as the corresponding quarter of 2007.

Peter Callaghan, the Company's Americas region Chief Sales Officer has resigned from his position with Maximizer Software, effective July 16, 2008, to pursue other personal and professional opportunities. Mr. Callaghan joined Maximizer Software in October 2003 and has served as a senior sales and marketing executive with the Company for the past five years.

Increasing Profitability

The Company recorded a net loss of US$0.3 million in the second quarter of 2008, compared to US$0.2 million in the corresponding quarter of 2007. The breakdown by region was as follows:

- The Americas region recorded a net loss of US$0.1 million in the second quarter of 2008 compared to US$0.3 million in the corresponding quarter of 2007.

- The EMEA region recorded a net loss of US$0.1 million in the second quarter of 2008 compared to a net income of US$0.2 million in the corresponding quarter of 2007.

- The Asia Pacific region recorded a net loss of a nominal amount in the second quarter of 2008, compared to US$0.1 million in the corresponding quarter of 2007.

Expanding Customer Base

Throughout the second quarter of 2008, Maximizer Software continued to increase sales of the Maximizer CRM 10 product lines.

In the second quarter of 2008, over 160 new and over 320 existing customers purchased or upgraded more than 2,800 seats of 'Maximizer CRM 10' and over 5,800 seats were shipped to customers under the Company's highly successful maintenance program.

Also in the second quarter of 2008, over 380 new and over 410 existing customers purchased more than 1,600 licenses of the latest version, 'Maximizer CRM 10 Entrepreneur Edition'.

In total, Maximizer Software shipped more than 10,200 licenses of Maximizer CRM 10 during the second quarter of 2008.

The Company's new customers span a variety of industries in each of Maximizer Software's three primary geographic regions, the Americas, EMEA and Asia Pacific.

New customers include:

Asset Marketing, At Home Services from Anchor Trust, BNP Paribas, Color Broadband, Danielson Europe BV, Entertainment Services Theatrical Pty Ltd., Entrepreneur Magazine (UK), Guaranteed Returns, Lefebvre Electronics, MEGT (Australia) Ltd., Minneapolis Heart Institute Foundation, Piezo Surgery, Pinnacle Computer Systems, Redink Pty Ltd., Shinwon Datanet

Increasing Brand Recognition

In the second quarter of 2008, Maximizer Software continued to raise its level of brand awareness through successful marketing and media relations.

In May 2008, Maximizer was selected by ISM Inc., CRM and Contact Center strategic advisors, as a Top 15 CRM Small & Medium Business Software Award winner for 2008. Maximizer Software was chosen after intensive testing by the ISM Software Lab. This is the sixth time that Maximizer Software has received this recognition.

In April 2008, Maximizer CRM was highlighted in Entreprenuer Magazine's Guide to Software. Other publications that featured Maximizer Software during the second quarter included ITWorld Canada, SmalBizComputing.com, Inside CRM, CRM Magazine, CRM Advocate, Selling Power and TMCNet.

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. Built on a web-based architecture, Maximizer CRM offers sales, marketing, and customer service users and managers their choice of access to customer information - through the desktop, web, or mobile device. 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 in the Americas, Europe/Middle East/Africa and Asia Pacific. For more information, please visit: www.maximizer.com.

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 For the six months
ended May 31, ended May 31,
-------------------- -------------------
2008 2007 2008 2007
----------- ----------- ----------- -----------
(unaudited) (unaudited) (unaudited) (unaudited)

Revenues $ 4,535 $ 4,173 $ 8,960 $ 8,180

Cost of sales 909 901 1,886 1,690
----------- ----------- ----------- -----------

Gross profit 3,626 3,272 7,074 6,490
----------- ----------- ----------- -----------

Operating expenses
Selling and marketing 1,329 1,202 2,762 2,345
Research and development 983 776 1,862 1,491
Administrative and other 1,532 1,294 2,833 2,662
Amortization of plant
and equipment 65 66 127 126
----------- ----------- ----------- -----------
3,909 3,338 7,584 6,624
----------- ----------- ----------- -----------

Loss from operations (283) (66) (510) (134)

Other (income) expenses
Interest expense 36 34 74 82
Foreign exchange (gain)
loss (47) 77 0 123
----------- ----------- ----------- -----------
(11) 111 74 205
----------- ----------- ----------- -----------

Net loss $ (272) $ (177) $ (584) $ (339)
----------- ----------- ----------- -----------
----------- ----------- ----------- -----------


Contact Information

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