MONTREAL, Nov 12, 2010 (BUSINESS WIRE) -- iPerceptions Inc. (TSX-V: IPE), a leading provider of web-focused Voice of Customer (VoC) analytics using advanced intercept survey technologies, today reported its financial results for the third quarter of 2010.
Highlights for the third quarter of 2010 include: Third quarter revenue of $1,268,912, up 5% from the corresponding period in the previous year. Gross margin as a percentage of revenue of 66%, a significant improvement to the 59% recorded in the corresponding period in the previous year. Operating loss of $152,481 in the quarter, an improvement of 83% from the corresponding period in previous year. The addition and renewal of multiple high-profile companies to the Corporation's customer portfolio, including Dell, Expedia, Network Appliance, Toyota Financial, Ford, Kellogg, Kodak, Lenovo, Monster Worldwide and Axa Canada. Announcement of the expansion of their popular 4Q product, offering at a low-cost, advanced analytics functionality, additional insight and alerts, customer relationship management functionality (CRM) and a simple set-up function to integrate with Google Analytics data.
"We're very excited to offer our 4Q users advanced analytics and data integration capabilities at an affordable price," said Claude Guay, president and CEO of iPerceptions. "The 4Q Product Suite is the perfect solution for companies that want an introduction to the benefits of VoC analytics." webValidator Continuous Listening Solution The Corporation added multiple high-profile companies to the customer portfolio of its webValidator solution in Q3 2010, including Expedia, Reader's Digest, Toyota Financial, Kellogg, Kodak and Lenovo. It also renewed several annual contracts with clients such as Dell, Monster Worldwide, Comcast, Steelcase, Network Appliance, Ford, Axa Canada and increased its scope of work with existing clients such as Yellow Pages and Postmedia Network.
4Q Suite On October 4th, 2010, iPerceptions announced the expansion of its 4Q product, offering companies a cost-effective, yet sophisticated suite of online analytics tools that provide advanced functionality and additional insight into their consumers behavior. The paid version of the 4Q solution will offer enhanced analytics and data integration capabilities, a higher number of allowed survey respondents, as well as CRM capabilities such as e-mail collection, coupons and ads. The 4Q Suite also includes Social Media functionality, automatic alerts when significant changes occur, seamless integration with Google Analytics data and global industry benchmarking capabilities using data from over 7,000 websites across 30 industry verticals.
The 4Q Suite is a simple-to-deploy Software-as-a-Service (SaaS) solution, which was originally developed in collaboration with Avinash Kaushik, a noted web analytics author and blogger.
Web Analytics Solution Profiler (WASP) We continued to develop and enhance our WASP product line in the third quarter of 2010, adding increased functionality, expanded features and a new streamlined customer support platform. These enhancements were well received by the WASP community with the global number of active users reaching 20,000.
We also continued to add to our growing list of enterprise clients looking to improve the web analytics implementation and overall data quality on their websites and those of their customers. In the quarter, iPerceptions signed an agreement with leading web analytics solution provider AT Internet to develop specific add-ons related to their product offering.
Third quarter 2010 financial highlights: For the third quarter of 2010, revenue was $1,268,912 compared to $1,211,517 in the same period in 2009. Gross margin as a percentage of revenue was 66% for the second quarter of 2010 compared to 59% for the same period in 2009. Net loss and comprehensive loss for the third quarter of 2010 was $409,144 compared to $1,070,054 for the same period in 2009, including non-cash charges for interest and accretion of discount on convertible debentures in the amount of $258,877.
The basic and diluted loss per share for the third quarter of 2010 was $0.01 compared to $0.03 for the same period in 2009. Cash and cash equivalents totaled $1,442,245 as of September 30, 2010. During the third quarter of 2010 cash used in operating activities amounted to $52,060 compared to $733,037 in the same period in 2009.
For more information please consult our Interim Consolidated Financial Statements and Management Discussion and Analysis available on SEDAR at www.sedar.com.
About iPerceptions: iPerceptions is a leading web-focused Voice of Customer analytics provider. Its webValidator Continuous Listening Solution, 4Q website survey solution, Web Analytics Solution Profiler (WASP) and proprietary iPerceptions Satisfaction Index (iPSI) turn thousands of data points into easy-to-understand strategic and tactical decision support for website marketers. iPerceptions' clients include such well-known brands as InterContinental Hotels, General Motors, Dell, Hyundai, LG Electronics, Choice Hotels International, BMW and Monster Worldwide.
For more information, please visit our site at www.iperceptions.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE: iPerceptions CONTACT: iPerceptions Inc. Claude Guay, 514-488-3600 President and Chief Executive Officer Copyright Business Wire 2010 -0- KEYWORD: Quebec
North America INDUSTRY KEYWORD: Technology
Other Technology SUBJECT CODE: Earnings