iPerceptions Reports Third Quarter 2009 Financial Results

2009-10-29 02:21:03 -

iPerceptions Inc. (TSX-V:IPE), a leading provider of web-focused Voice of Customer analytics, today reported its financial results for its third quarter of 2009.

Highlights for the third quarter of 2009 include.

- The addition of multiple high-profile corporations to its customer portfolio (such as Avis Budget, Samsung Global and Yellow Pages Group), as well as a number of renewals.
- Gross margin of

57% compared to 50% for the third quarter of 2008.
- The continued growth of 4Q, iPerceptions’ simple and free survey tool.


“Through the first three quarters of 2009, iPerceptions was able to manage skillfully through these turbulent economic waters,” stated Claude Guay, President and CEO of iPerceptions. “Q3 saw the continued development of our free 4Q survey solution, as well as the continued addition of world class brands to the roster of companies using our best-in-class webValidator Continuous Listening survey solution. In short, it was and continues to be an exciting time for the company.”

Business development


iPerceptions added multiple high-profile corporations to its customer portfolio of its webValidator solution in Q3 2009, including Avis Budget, Samsung Global and Yellow Pages Group. The Corporation also renewed annual contracts with high profile clients such as Dell and Mazda Canada.

Gross margin


Gross margin as a percentage of revenue was 57% for the third quarter of 2009 compared to 50% for the same period in 2008. The Corporation has managed to maintain cost of revenue relatively at the same level as in 2008 despite an increase of revenue which contributed to this significant improvement in gross margin.

4Q development


The free 4Q survey user base continued its growth in Q3 2009. The number of websites signing up for the free survey in Q3 2009 rose 94% from the previous quarter. At the close of Q3 2009, the 4Q website survey had reached over 5 million real website visitors since its launch in March 2008.

Third quarter financial highlights


iPerceptions delivered the following results for the third quarter ended September 30, 2009.

Revenue: For the third quarter of 2009, revenue was $1,211,517 compared to $1,104,802 for the same period in 2008, an increase of 10%.

General and administrative expenses: General and administrative expenses were $706,458 for the third quarter of 2009, an increase of $375,104 over the same period in 2008. On September 30, 2009, a senior executive left his functions with the Corporation. A severance package totaling $300,000 was accounted for as of September 30, 2009 which has directly affected our general and administrative expenses in the third quarter of 2009.

Net loss and earnings per share: Net loss and comprehensive loss for the third quarter of 2009 was $1,070,054 compared to $654,285 for the same period last year. The basic and diluted loss per share for the third quarter of 2009 was $0.03 compared to $0.02 for the same period in 2008.

Cash position: Total cash, cash equivalents and short-term investments totaled $2,365,933 as at September 30, 2009. During the third quarter of 2009, the cash used by operating activities amounted to $733,718.

“The web analytics space is undergoing a broad and unprecedented shift towards flexible solutions that are adapted to their tactical needs and deliver maximum impact, a trend which we are very much leading,” concluded Guay. “In the marketplace right now, data is in excess and resources are limited, therefore insights and intelligence is a scare and much sought after commodity. This is where we continue to surpass our competitors in delivering value.”


For additional information, consult our Consolidated Financial Statements and Management Discussion and Analysis filed on SEDAR at www.sedar.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .

About iPerceptions.

iPerceptions is a leading web-focused Voice of Customer analytics providers. Its webValidator Continuous Listening : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fipe .. solution, free website survey solution 4Q : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. , Web Analytics Solution Profiler (WASP) and proprietary iPerceptions Satisfaction Index (iPSI) : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fipe .. 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, LG Electronics, Choice Hotels International, BMW and Monster Worldwide. iPerceptions has offices in New York, Atlanta, Toronto, Montreal and London.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.


iPerceptions Inc.Claude Guay – President and Chief Executive

Officer, 514-488-3600