SOURCE: Superclick, Inc.

Superclick, Inc.

March 16, 2010 09:29 ET

Superclick Reports First Quarter Financial Results

MONTREAL--(Marketwire - March 16, 2010) -  Superclick, Inc. (OTCBB: SPCK), a technology leader in IP infrastructure management solutions to the hospitality industry, today announced record financial results for the first quarter ended January 31, 2010.

Key Financial Highlights:

  • $1.6 million in revenue
  • Sequential and year-over-year increase in gross profit to 51.7%
  • $1 million in services revenue, up 25.4% year-over-year
  • 12th consecutive quarter of net profitability

Financial Results for the Three Months Ended January 31, 2010

Superclick reported revenues of $1,629,438 for the three months ended January 31, 2010, a decrease of 13% from the $1,871,973 reported for the same period last year. The primary factor impacting revenues for the business were a 42.1% decline in installation revenue to $614,664. However, services revenue, which is a recurring component of the Company's business, posted a 25.4% year-over-year increase to $1,014,774.

Sandro Natale, CEO and President of Superclick, said, "The hospitality industry continues to face economic headwinds, which have resulted in several instances of customers pushing planned installations into future quarters. Nevertheless, we are pleased with reports that we receive from existing and new customers, which continue to validate the appeal our network management and customer support solutions have where world class service to guest matters the most."

Natale added that "Over the last quarter we have increased our sales force with experienced and leading sales personnel which we believe will produce tremendous results in terms of revenue and earnings growth as the economy recovers."

Gross profit for the three months ended January 31, 2010 decreased by $107,218 or 11.3% to $842,960 compared to $950,178 for the three months ended January 31, 2009. Gross margin for the period was 51.7% compared to 50.8% for the previous year's comparable period; a 0.9% improvement.

Net income for the three months ended January 31, 2010 was $149,581 or 9.2% of net revenue compared to $401,456 or 21.4% of net revenue during 2009 representing a decrease of $251,875 or 62.7% in the bottom line.

For the three months ended January 31, 2010, the net income per common share basic and fully diluted was $0.00, compared to $0.01 basic and fully diluted for the three months ended January 31, 2009. The basic and fully diluted weighted average shares for the first quarter of 2010 were 45,312,251 and 59,164,607, respectively.

During the three months ended January 31, 2010 we had a net decrease in cash of $319,114. Total cash resources as of January 31, 2010 was $1,872,944 compared to $2,192,058 at October 31, 2009. At January 31, 2010, Superclick had $1,414,527 in accounts receivable, compared to $1,481,814 at October 31, 2009.

Key Operating Highlights

  • Finalized competitive upgrade offer and migration program for Four Seasons Hotels in the Americas leading to direct acquisition net new Four Season properties under Superclick Networks' HSIA management and support.
  • The announced assignment of Superclick Networks as the official guest support solution partner for Telematrix led to the acquisition of net new Teledex deployed Sheraton properties for HSIA management and support.
  • Kimpton Hotels selected Superclick Networks as their preferred HSIA solution partner. New builds and the migration of their existing property portfolio begins in Q2 this year.
  • Superclick Networks successfully negotiated expanded strategic vendor relationships and enhanced business terms with Ruckus Wireless and Hewlett Packard.

About Superclick, Inc.

Superclick, Inc. (OTCBB: SPCK), through its wholly owned, Montreal-based subsidiary Superclick Networks, Inc., develops, manufactures, markets and supports the Superclick Internet Management System (SIMS™), Monitoring and Management Application (MAMA™) and Media Distribution System (MDS™) in worldwide hospitality, conference center and event, multi-tenant unit (MTU) and university markets. Current clients include MTU residences and Candlewood Suites®, Crowne Plaza®, Fairmont Hotels and Resorts®, Four Seasons Hotels and Resorts®, Four Points by Sheraton®, InterContinental Hotels Group PLC®, Hilton®, Holiday Inn®, Holiday Inn Express®, Hampton Inn®, Mandarin Oriental Hotel Group ® Marriott®, Novotel®, Radisson®, Sheraton®, Westin® and Wyndham® hotels in Canada, the Caribbean and the United States.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements with the terms "believes," "belief," "expects," "intends," "anticipates," "will" or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.

Contact Information

  • Michael Cohen
    VP Sales
    Superclick Networks, Inc.
    Office 1-866-271-0333 X334

    Investor Relations
    American Capital Ventures, Inc.
    Richard Hull
    Phone: 305-918-7000