Nstein Technologies announces its 2009 Q3 results
2009-11-12
Montreal, Québec, November 12, 2009 – Nstein Technologies inc. www.nstein.com (TSX-V: EIN), today announced its results for the third quarter of 2009 ending on September 30, 2009.
Nstein revenues for the third quarter of 2009 were $4.6 million, a 17% decrease from $5.6 million in the previous year. The Company posted a loss before financial charges, income tax, depreciation, amortization, exchange loss and restructuring charges (EBITDA) of $823,915 almost unchanged compared to a negative EBITDA of $818,202 for the third quarter of 2008. The net loss amounted to $1,298,145 or $0.025 per share, compared to a net loss of $1,056,073 or $0.021 per share for the same period the previous year.
“The recession continued to affect sales of new software licenses and related specialized services in the third quarter. Historically, new sales have been lower during the summer, and the current economic situation seems to have amplified this seasonal effect. Potential clients have postponed many projects, but we are confident that these sales will materialize by the end of the fiscal year. Despite the decrease in revenues, we have controlled our losses by applying cost-cutting measures in recent months. At the recession exit, the financial situation of the company remains sound and we will be well positioned when companies in the media sector resume investing in upgrading their digital operations. In addition, we recently announced initiatives intended to expand our offering to clients in the life sciences, government and enterprise sectors. Based on the strength of our experience in management of semantic content within the most demanding industry in this area, we are convinced that our solutions have great value for clients in these target sectors,” said Luc Filiatreault, President and CEO of Nstein Technologies.
On September 30, 2009, the Company had cash of $5.7 million, working capital of $6.7 million, long-term debt of $0.3 million. It has access to a $1 million line of credit with a Canadian chartered bank. This line of credit was established during the third quarter and is currently unused.
About Nstein Technologies Inc.
Nstein Technologies (TSX: EIN) provides next generation content management solutions that help information-rich enterprises centralize, understand and manage vast amounts of content. At the heart of Nstein’s solutions, semantic analysis allows information to be easily found and packaged together – so it can be connected to the right internal and external audiences. Nstein’s Content Management and Web Publishing solutions both rely on Nstein’s patented Text Mining Engine for semantic & text analysis. This unlocks content’s value and allows clients (from an array of different industries) to leverage existing content to: create and deliver new products; facilitate internal and external research and knowledge sharing; and reduce content-related costs.
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For more information:
Nstein Technologies inc.
Investor Relations
Bruno Martel
Chief Financial Officer
Tel.: (514) 908-5406
bruno.martel@nstein.com