Sitebrand Inc.

Sitebrand Inc.

April 15, 2009 07:39 ET

Sitebrand Announces First Quarter 2009 Results

GATINEAU, QUEBEC--(Marketwire - April 15, 2009) - Sitebrand Inc (TSX VENTURE:SIB), a leader in online marketing solutions today announced first quarter results for its three months ending February 28, 2009.

Highlights for the first quarter include:

- Sitebrand achieved $596,406 in revenues compared to $506,124 in the same period last year, an 18% increase, continuing the trend of double-digit revenue growth over the past five years.

- A quarterly loss of $152,664 compared to $507,069 in the same period last year, a decrease of 70%.

"Sitebrand continues to improve its financial performance by re-aligning its cost structure to the economic climate while continuing to grow revenues, resulting in the smallest quarterly net loss in the past two years." said Justin Shimoon, Founder and CEO.

Sitebrand delivered the following results for the first quarter ended February 28, 2009:

Revenue: For the first quarter of 2009, revenue totaled $596,406 compared to $506,124 for the corresponding period in 2008, an increase of 18%. This increase reflected an increase in customers as well as increased revenues per customer due to improved upselling of additional services. This improved revenue was despite a dramatic decrease in consumer spending as a result of the global recession.

Net loss and Earnings per Share: Net loss and comprehensive loss for the first quarter of 2009 was $152,664 compared to a net loss and comprehensive loss of to $507,069 for the same period last year. The reduced loss was a result of cost reductions including decreased staffing levels and improved operating efficiencies.

The cash used for operations in the three months ended February 28, 2009 was $309,142 as compared to $334,592 in the three months ended February 29, 2008. The basic and diluted loss per share for the first quarter of 2009 and the same time last year were $0.01 and $0.03 respectively.

About Sitebrand

Sitebrand Inc. provides online marketing solutions and related services to major retailers across North America and Europe. Based on its proprietary software, Sitebrand's Segment&Serve™ personalization solution delivers personalized online marketing campaigns for websites, email, search engine marketing, blogs, banners, point of sale, or any other web medium. Using Sitebrand, online retailers are able to develop customized marketing campaigns that leverage anonymous web analytics and visitor behavior, providing each visitor with a personalized experience to that particular visitor in real-time-generating more customers, more profit per customer, more customer loyalty, and more conversions. Sitebrand was founded in 2000 and is headquartered in Gatineau, Quebec.

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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