Angoss Reports Revenue and Profit Growth in Third Quarter
Toronto, Canada, October 05, 2007 --(PR.com)-- Angoss Software Corporation (Angoss) (TSX-V: ANC) today announced unaudited results for the third quarter and nine months ending August 31, 2007.
During the third quarter, revenues of $1,965,009 were up 19% from 2006 results ($1,652,517). For the nine months ended August 31, 2007 revenues of $5,449,645 were up 9% over 2006 results ($4,998,295). The Company's billed revenues in the quarter were approximately $2.26 million, an increase of 126% over prior year third quarter billed revenues of approximately $1.0 million. In year to date results, billed revenues were $5.4 million, up 21% from prior year billed revenues of $4.5 million.
Third quarter operating profit of $364,633 was up 145% over prior year third quarter operating profit of $148,821. Net income was $162,191 compared with third quarter 2006 net income of $2,540. In year to date results operating income and net income were $642,893 (2006: $605,152) and $83,654 (2006: $257,565), respectively.
Third quarter operating expenses of $1,600,376 were up 6% from the third quarter of 2006 ($1,503,696). For the year to date operating expenses were $4,806,752, up 9% from 2006 year to date expenses of $4,393,447.
Angoss Software empowers people to make "Better Business Decisions. Every Day."
Some of the world's leading financial services, telecom, life sciences, and retail organizations use Angoss predictive analytics software and services to grow revenues, while reducing risk and cost. Angoss helps their clients utilize business data to discover the key drivers of behavior, predict future trends and events, and act with confidence when making business decisions.
Angoss combines powerful market proven software with focused industry services expertise in the deployment, integration and use of predictive analytics in enterprise environments. Their differentiators include broad user acceptance, a commitment to open standards, rich functionality, rapid deployment, exceptional ease-of-use and affordability.
Headquartered in Toronto Canada, Angoss has offices in the UK and Australia and partners with the world's leading enterprise software and services vendors. For more information, visit www.angoss.com.
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including: the risk that the sale of their products and services involves a long sales cycle; the risk that the economic environment and business conditions will remain difficult to predict; the risk of competition in their target markets; the risk that they may not respond adequately to evolving technologies; the risk that they or their customers may have difficulties in introducing their products or services; the risk that they will encounter difficulties in continuing to offer services; the risk that they will encounter difficulties in integrating the operations of acquired companies with their own; the risks of conducting their operations in a variety of international locations; the risk that they may need to record future write-downs of assets arising from their investments in other companies; the risks relating to the costs that they may incur as a result of litigation against them; and other risks described in their filings with securities regulatory authorities, including their annual reports, interim financial statements and similar disclosure documents. Angoss Software does not undertake any obligation to update this forward-looking information after the date of its initial publication, except as required under applicable law.
Note: The Toronto Venture Exchange has neither approved nor disapproved the above information.
###
During the third quarter, revenues of $1,965,009 were up 19% from 2006 results ($1,652,517). For the nine months ended August 31, 2007 revenues of $5,449,645 were up 9% over 2006 results ($4,998,295). The Company's billed revenues in the quarter were approximately $2.26 million, an increase of 126% over prior year third quarter billed revenues of approximately $1.0 million. In year to date results, billed revenues were $5.4 million, up 21% from prior year billed revenues of $4.5 million.
Third quarter operating profit of $364,633 was up 145% over prior year third quarter operating profit of $148,821. Net income was $162,191 compared with third quarter 2006 net income of $2,540. In year to date results operating income and net income were $642,893 (2006: $605,152) and $83,654 (2006: $257,565), respectively.
Third quarter operating expenses of $1,600,376 were up 6% from the third quarter of 2006 ($1,503,696). For the year to date operating expenses were $4,806,752, up 9% from 2006 year to date expenses of $4,393,447.
Angoss Software empowers people to make "Better Business Decisions. Every Day."
Some of the world's leading financial services, telecom, life sciences, and retail organizations use Angoss predictive analytics software and services to grow revenues, while reducing risk and cost. Angoss helps their clients utilize business data to discover the key drivers of behavior, predict future trends and events, and act with confidence when making business decisions.
Angoss combines powerful market proven software with focused industry services expertise in the deployment, integration and use of predictive analytics in enterprise environments. Their differentiators include broad user acceptance, a commitment to open standards, rich functionality, rapid deployment, exceptional ease-of-use and affordability.
Headquartered in Toronto Canada, Angoss has offices in the UK and Australia and partners with the world's leading enterprise software and services vendors. For more information, visit www.angoss.com.
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including: the risk that the sale of their products and services involves a long sales cycle; the risk that the economic environment and business conditions will remain difficult to predict; the risk of competition in their target markets; the risk that they may not respond adequately to evolving technologies; the risk that they or their customers may have difficulties in introducing their products or services; the risk that they will encounter difficulties in continuing to offer services; the risk that they will encounter difficulties in integrating the operations of acquired companies with their own; the risks of conducting their operations in a variety of international locations; the risk that they may need to record future write-downs of assets arising from their investments in other companies; the risks relating to the costs that they may incur as a result of litigation against them; and other risks described in their filings with securities regulatory authorities, including their annual reports, interim financial statements and similar disclosure documents. Angoss Software does not undertake any obligation to update this forward-looking information after the date of its initial publication, except as required under applicable law.
Note: The Toronto Venture Exchange has neither approved nor disapproved the above information.
###
Contact
Angoss Software Corporation
Alim Khan
416-593-2412
www.angoss.com
Alim Khan
416-593-2412
www.angoss.com
Contact
Categories