SOURCE: Superclick

September 13, 2010 08:48 ET

Superclick Reports Third Quarter Results and Operating Highlights

MONTREAL--(Marketwire - September 13, 2010) - Superclick, Inc. (OTCBB: SPCK), a technology leader in IP infrastructure management solutions to the hospitality industry, today announced record financial results for the third quarter ended July 31, 2010.

Key Operating Highlights

  • Progress with key partners. Won, with our strategic partner IBM Global Services, three Marriott Corporation high-profile new builds: Courtyard Seattle Washington, Marriott Waikiki EDITION and the new Ritz Carlton opening in Toronto, Canada;
  • 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 contract for major guest network infrastructure refresh with The Regent Singapore -- A Four Seasons Hotel, highlighting our Asian expansion. 

Financial Results for the Three and Nine Months Ended July 31, 2010

Net Revenue for the three months ended July 31, 2010 decreased $65,348 or 3.0% to $2,145,571 compared to $2,210,919 for the three months ended July 31, 2009. Service revenue increased by 1.1% while net sales were slightly down by -6.5%. Net Revenue for the nine months ended July 31, 2010 increased by 7.2% or $397,926 to $5,927,930 compared to $5,530,004 for the nine months ended July 31, 2009. The favorable variance was mainly due to a 14.3%, or $388,960 increase in services revenue. 

Gross profit for the three months ended July 31, 2010 decreased by $136,337 to $976,267 compared to $1,112,604 for the three months ended July 31, 2009. Year-to-date gross profit decreased by $64,806 to $2,838,079 compared to $2,902,885 for the nine months ended July 31, 2009. The gross margin for the current period was 45.5% compared to 50.3% last year whereas the year to date margin was 47.9% compared to 52.5% for the previous year. The main reason for the decrease in gross margins for both the quarter and year to date was due to increases in cost of sales to support the services revenue. 

Third quarter 2010 net income was $192,139 or 9.0% of net revenue compared to $292,973 or 13.3% of net revenue during 2009 representing a decrease of $100,834. Net income for the nine months ended July 31, 2010 was $412,207 or 7.0% of net revenue compared to $927,467 or 16.8% of net revenue for the same period last year.

For the three months ended July 31, 2010, the net income per common share basic and diluted was $0.00 compared to $0.01 basic and $0.00 diluted for the three months ended July 31, 2009. The basic and fully diluted weighted average shares for the quarter were 45,416,695 and 58,524,751, respectively. The basic and fully diluted weighted average shares for the third quarter of 2009 were 45,272,356 and 59,341,379, respectively.

For the nine months ended July 31, 2010, the net income per common share basic and diluted was $0.01 compared to $0.02 basic and diluted for the nine months ended July 31, 2009. The basic and fully diluted weighted average shares for the first nine months of fiscal 2010 were 45,347,066 and 58,524,751, respectively. The basic and fully diluted weighted average shares for the first nine months of fiscal 2009 were 45,075,689 and 59,505,600, respectively.

During the three and nine months ended July 31, 2010 we had a net decrease in cash of $480,085 and 213,358, respectively. Total cash resources as of July 31, 2010 were $1,978,700 compared to $2,192,058 at October 31, 2009.

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