MONTREAL (Quebec), April 27, 2012 – Alphinat Inc. (TSX-VN : NPA) announces its results for the fiscal quarter ended February 29, 2012.
During the quarter under review, Alphinat has focused its efforts on targeting private enterprise in order to diversify its client and Partner base. In the public sector, the French State Modernization Agency (DGME) has continued to expand their citizen-centric service deployment and have ordered additional licenses from Alphinat in order to do so.
Alphinat has also pursued Cloud computing validations with major players in the industry in the USA as well as in Europe. The company is progressing in discussions with global partners for strategic initiatives that could lead to global distribution and sales. As of the date of this report, SmartGuide in one of only 9 independent (from IBM) applications to be certified for both IBM’s new PureFlex and PureApplications platforms that IBM launched on April 11, 2012.
Furthermore, Alphinat has made strong headway into partnerships for specific vertical markets with companies that have an established and captive client base. Management believe that these partnerships will reduce the SmartGuide sales cycle while multiplying points of contacts with potential clients.
For the quarter under review, the company recorded revenue and deferred revenue for a total amount of $471,208 (Revenue: $209,388 and Deferred revenue: $261,820).
For the 3-month period ended February 29, 2012, the Company recorded total revenue of $209,388 compared to $99,544 for the same period in 2011. This increase is due mainly to sales of new SmartGuide licenses as well as to increased revenue from maintenance and support resulting from the renewal of the SmartGuide annual license maintenance contract by the Direction Générale de Modernisation de l’État (DGME), the French government agency responsible for State reform, as well as by the government of Quebec.
Operating expenses decreased from $269,343 for the 3-month period ended February 28, 2011 to $255,175 for the 3-month period ended February 29, 2012. This variation is due mainly to the decrease in stock-based compensations.
The net loss for the 3-month period ended February 29, 2012 is $176,168 or $0.004 per outstanding common share compared to a net loss of $341,530 or $0.008 per outstanding common share for the corresponding period in 2011.
Alphinat’s financial statements and Management’s Discussion and Analysis for the quarter ending February 29, 2012 can be found on SEDAR, at www.sedar.com.
At Alphinat, we are driven by the passion to make secure low-code/no-code application and portal development a reality and easier for everyone. We enable the people with the vision and process knowledge to create great finished applications that IT can more easily deploy in their secure environments. With SmartGuide we provide an easy to use low-code tool and derivative solutions such as SmartGuide for “Dynamics 365 targeted for G&Cs that meet the client’s most critical needs empowering all lines of business to leverage their own process knowledge and expertise to self-serve.
SmartGuide brings you new ways to empower the right people with tools for success at the right time in the application development process. At the same time, we are constantly working to reduce the need to code in order to make application development and maintenance simpler.
So whether you choose to develop your applications with the help of our low-code platform SmartGuide®, kickstart your project using one of our pre-built or derivative apps or engage us or one of our partners to do the work for you, we’re here to help you deploy secure applications in record time.
Alphinat provides a safe and secure workplace and remains an equal opportunity employer promoting our passion for productivity. With that mantra we have issued ourselves a challenge to find and promote the best minds and freely share ideas.
Certain statements in this document, including those which express management’s expectations or estimations with regards to the Company’s future performance constitute «forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward- looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company’s capacity to increase acceptance of its products on the market, and to penetrate new markets; the potential existence of defects or undetected problems in the Company’s products; the Company’s ability to manage its growth; the Company’s ability to compete with others; potential commitments; maintaining the Company’s intellectual property rights and defending against litigation putting those rights in question; the Company’s reliance on the knowledge of its key personnel; and the Company’s access to sufficient capital to finance its future needs. This is a partial and non-exhaustive list of factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. The Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company’s Annual Report.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.