Investors

Summary for Q1 Fiscal 2010, ended June 30 2009

  • Despite a significant decline in revenues from $4.9 million in the quarter ended June 30, 2008 to $4.1 million in the quarter ended June 30, 2009, primarily the result of the Company’s recognition of $1 million of software revenue related to a Canadian government agency in the same quarter last fiscal year, recurring revenue increased 8% from $3.3 million to $3.6 million in the quarter ended June 30, 2009.
  • The Company achieved its second consecutive quarter of positive EBITDA in the quarter ended June 30, 2009.  EBITDA was a positive $0.02 million for the quarter ended June 30, 2009, compared to an EBITDA loss of $0.2 million for the same quarter last fiscal year and compared to positive EBITDA of $0.01 million for the previous quarter. 
  • Net loss was $0.8 million, or $(0.01) per share, compared to a loss of $1.3 million, or $(0.02) per share, for the same quarter last fiscal year.
  • Expenses decreased $1.1 million, or 23%, to $3.5 million in the quarter ended June 30, 2009 from $4.6 million in the year ago quarter and decreased $0.5 million, or 11%, from $4 million in the previous quarter.
  • The change in the value of the US dollar is estimated to have positively impacted revenue during the fiscal quarter ended June 30, 2009 by approximately 10%, or $0.4 million, compared to the same quarter last fiscal year.
  • In July 2009, the Company amended its debt financing agreements and extended the term through July 2012.
  • The Company was selected to provide its web-based OntarioMD Certified Nightingale On Demand EMR to the North Burlington Medical Centre, where the application will be used by more than 30 full and part-time physicians providing family practice, pediatrics and walk-in (urgent care) medical services with over 75,000 patients visits per year.