SOURCE: SupportSave Solutions, Inc.

SupportSave Solutions, Inc.

January 04, 2010 08:00 ET

SupportSave Solutions, Inc. (OTCBB: SSVE) Announces Record Revenue Growth of 142% and Record Earnings of $0.025 per Share for Its Fiscal Second Quarter Ended November 30, 2009

LOS ANGELES, CA--(Marketwire - January 4, 2010) - SupportSave Solutions, Inc. (OTCBB: SSVE)

Highlights for this period include:

--  142% increase in revenue, compared to the three months ended November 30,
--  Operating margin improvement to 52.0% from an average of 25.3% for the
    past three quarters.
--  Earnings per share of $0.025.

Financial Results

The company posted record earnings of $328,834 on revenues of $954,375 as compared to earnings of $13,381 on revenues of $393,648 for the same period last year. Revenue amounts are net after consideration for returns and allowances which decreased to $3,091 from $18,206 for the same period last year.

Operating expenses for the three months ended November 30, 2009 were $457,926 as compared to $539,426 for the same period last year.

The net of other income and expenses for the three months ended November 30, 2009, totaled $9,385 compared to $159,359 for the same period last year, reflecting a lessening impact of non-core business activities.

EBITDA for the three months ended November 30, 2009 was $511,389, as compared to $(130,544) for the three months ended November 30, 2008.

                                    Three Months Ended  Three Months Ended
                                     November 30, 2009   November 30, 2008

Operating Income                    $          496,449  $         (145,778)
Depreciation                        $           14,940  $           15,234

                                    ==================  ==================
  EBITDA                            $          511,389  $         (130,544)
                                    ==================  ==================

Net income for the three months ended November 30, 2009 was $328,834, as compared to $13,581 for the same period last year, resulting in per share earnings of $0.025 based on 13,243,316 shares outstanding.

On November 30, 2009, the balance of cash, cash equivalents and liquid securities was $1,070,229, compared to $586,908 on November 30, 2008.

"These results represent a major inflection point in the evolution of our company," says Christopher Johns, President and CEO of SupportSave. "When you consider that not only has our revenue grown to over two times what it was last year, it has also increased by 60% since just last quarter, it becomes clear just how fast our company is expanding.

"As you can see our margins are increasing, which is meaningful because of what it says about the business: what's happening is that we have extended our reach to such a sizeable client base that we are starting to reap the benefits of repeat business without any extra marketing effort. It also suggests that we are getting better capacity utilization.

"Our customers are happy with the service we are providing, which means they are increasing the number of representatives on their service team and extending their contracts. In simple terms, we are helping our clients grow their businesses by giving them more value for their money, which in turn is allowing us to grow as well. This has been the vision of the company from day one, and it is exciting to see it take hold, and more importantly, impact our bottom line.

"We also were notified by three of our largest clients that they will be ramping another 70 agents during the month of January, so there is a lot of growth in the pipeline, our propects couldn't be brighter," added Johns.

All amounts are in U.S. Dollars and in accordance with U.S. Generally Accepted Accounting Principles (GAAP), unless otherwise specified. Consolidated financial results include financial results of Philippine Operations.

About SupportSave Solutions, Inc.

SupportSave Solutions is the fastest growing publicly traded Business Process Outsourcing (BPO) provider with 96% Year over Year growth in its latest fiscal year ended May 31, 2009. SupportSave offers low-cost, high quality outsourced customer service, technical support and back-office support to businesses of any size. With Operations in both the US and The Philippines, we provide full-time dedicated agents from just $5 per hour. Visit or for small businesses.

Forward-Looking Statements

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words "believes," "project," "expects," "anticipates," "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements.

Contact Information

  • SupportSave Solutions, Inc.
    Craig Jackson
    Email Contact