SOURCE: Superclick

February 04, 2011 10:07 ET

Superclick Reports Fiscal Year 2010 Results and Operating Highlights

Reports Record Revenues

MONTREAL--(Marketwire - February 4, 2011) - Superclick, Inc. (OTCBB: SPCK), a technology leader in IP infrastructure management solutions to the hospitality industry, today announced record financial results for the fiscal year ended October 31, 2010.

Key Operating Highlights

  • Progress with key partners. Won several high profile new builds with strategic partner, IBM Global services; won first IBM/Superclick CSN deployment;

  • Extended "Best in Class" position. Entered 2010 with 4 Kimpton Hotels and ended the year with 37, and officially selected in 2010 as exclusive HSIA and IP management vendor partner; selected by prestigious Jumeirah in Dubai as the HSIA and IP management vendor, installing the iconic Burj Al Arab; extended portfolio of Four Seasons Hotels, with more scheduled for deployment in 2011;

  • Strengthening support business. Executed a new multi-year support contract with Intercontinental Hotels Group for their owned and managed portfolio of Candlewood Suites and Staybridge Suites properties;

  • Expanding Asian presence. Won several high profile contracts in Asia; officially recognized and approved to resell HSIA gateways for the regional of China by the Public Security Board of China

Sandro Natale said, "We saw further adoption of the Superclick HSIA and MaMA platform in the market which is a direct result of its recognition of the value in our technology and customer service. We continued to strengthen our support business through the development of the NOC, and we added key personnel to support our commitment to extend the Superclick brand in key growth regions around the world."

Financial Results

During the year ended October 31, 2010, revenue increased $1,404,122 or 18.3% to $9,093,208 compared to $7,689,086 for the year ended October 31, 2009. The favorable sales variances were incurred in both revenue streams. Compared to the previous year, net service revenue which includes installation revenue increased 26.0% to $4,942,469 from $3,924,024 in 2009 and services revenue which includes guest support services increased 10.2% to $4,150,739 from $3,765,062 in 2009. The Superclick solution continues to receive strong validation from new clients and existing clients. Along with year over year increases in net sales, the Company was able to secure support contracts not only with new customers but successfully renew services with existing clients.

Gross profit for the year ended October 31, 2010 increased by $102,024 or 2.6% to $4,075,882 compared to $3,973,858 for the year ended October 31, 2009. Gross margin for the current year was 44.8% compared to 51.7% the previous year. 

For the years ended October 31, 2010 and 2009, selling, general and administrative expenses were $2,584,065 and $1,868,656, respectively. The $715,409 or 38.3% increase in SG&A was primarily due to approximately $564,000 increase in sales and marketing expenses and $163,000 increase in general expenses. 

The net income before income taxes for the year ended October 31, 2010 was $1,164,426 or 12.8% of net revenue compared to $1,903,857 or 24.8% of net revenue during the year ended October 31, 2009. The Company recorded $373,904 in income tax expense during the year ended October 31, 2010 compared to $611,732 in 2009. As a result, net income for the year ended October 31, 2010 was $790,522 or 8.7% of revenue and $501,603 or 38.8% lower compared net income of $1,292,125, or 16.8% of revenue for 2009. 

For the years ended October 31, 2010, the net income per common share basic was $0.02 and $0.01 fully diluted, compared to $0.03 basic and $0.02 fully diluted for the year ended October 31, 2009. The basic and fully diluted weighted average shares for the current fiscal year end was 45,424,991 and 58,149,991, respectively. The basic and fully diluted weighted average shares for the year ended October 31, 2009 was 45,134,205 and 58,986,561, respectively.

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

  • Company:
    Todd M. Pitcher
    Phone: 760-798-4938