Maximizer Software Inc.
TSX : MAX

Maximizer Software Inc.

July 14, 2009 08:00 ET

Maximizer Software Announces Second Quarter 2009 Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 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 second quarter ended May 31, 2009. All results are reported in US dollars.

For the second quarter of 2009:

- Total revenues were US$3.1 million compared to US$4.5 million in the corresponding quarter of 2008.

- Operating expenses and cost of sales was US$3.3 million compared to US$4.8 million in the corresponding quarter of 2008.

- Other expenses were US$0.2 million compared to other income of a nominal amount in the corresponding quarter of 2008.

- Net loss under generally accepted accounting principles (GAAP) was US$0.4 million compared to a net loss of US$0.3 million in the corresponding quarter of 2008.

"Revenues increased 10% in the second quarter, compared to the first quarter of 2009 with improved performance in all three regions," said Vivek Thomas, president. "These results are encouraging given the current economic conditions as we continue to execute on our strategy to provide the best CRM and mobile CRM value proposition, through expertise, education and support."

Second Quarter 2009 Highlights:

- Revenues:

-- Americas: US$1.8 million (Q2 2008: US$2.5 million)

-- EMEA: US$0.6 million (Q2 2008: US$1.0 million)

-- Asia Pacific: US$0.7 million (Q2 2008: US$1.0 million)

- Profit/loss:

-- Americas: net loss of US$0.2 million (Q2 2008: net loss US$0.1 million)

-- EMEA: net loss of US$0.1 million (Q2 2008: net loss US$0.1 million)

-- Asia Pacific: net loss of US$0.2 million (Q2 2008: net loss of a nominal amount)

- Media coverage:

-- 'Maximizer Mobile CRM' was featured in a BlackBerryCool article titled: "Maximizer Mobile CRM for BlackBerry Walkthrough"

-- Other media coverage included: DM News, IT Business, Destination CRM, CRM Today, CRM Product Review and TMC.net

Customers:

-- Over 100 new and over 280 existing customers purchased or upgraded more than 2,000 seats of 'Maximizer CRM 10' and 'Maximizer CRM 10.5'

-- Over 260 new and over 350 existing customers purchased more than 1,000 licenses of 'Maximizer CRM 10 Entrepreneur Edition'

-- Over 4,400 licenses were shipped to customers under the Company's maintenance program

-- New customers included: Accreditation Canada; BC Centre for Disease Control; Centre for Business Success; Cerebral Palsy Support Network; Computer Credit Inc.; ClearTech Industries; IPC Global; Laurentian Bank Securities; One Blue Telecommunications; Oxford University; South African Nursing Council; South Carolina Technical College System; Statewide Home Health Care; Strike Energy Services Inc. and Worldwide Steel Buildings.

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: 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 ended For the six months ended
May 31, May 31,
-------------------------- ------------------------
-------------------------- ------------------------
2009 2008 2009 2008
------------ ------------- ------------ ------------
(unaudited) (unaudited) (unaudited) (unaudited)

Revenues $ 3,057 $ 4,535 $ 5,848 $ 8,960

Cost of sales 567 909 1,162 1,886
------------ ------------- ------------ ------------

Gross profit 2,490 3,626 4,686 7,074
------------ ------------- ------------ ------------
------------ ------------- ------------ ------------

Operating expenses
Selling and
marketing 973 1,329 1,995 2,762
Research and
development 713 983 1,416 1,862
Administrative and
other 976 1,532 2,118 2,833
Amortization of
plant and
equipment 50 65 99 127
------------ ------------- ------------ ------------
2,712 3,909 5,628 7,584
------------ ------------- ------------ ------------

Loss from
operations (222) (283) (942) (510)

Other (income)
expenses
Restructuring costs
(recovery) (5) - 71 -
Interest expense 48 36 94 74
Foreign exchange
(gain) loss 161 (47) 126 -
------------ ------------- ------------ ------------
------------ ------------- ------------ ------------
204 (11) 291 74
------------ ------------- ------------ ------------

Net loss $ (426) $ (272) $ (1,233) $ (584)
------------ ------------- ------------ ------------
------------ ------------- ------------ ------------


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