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TORONTO, Feb. 2, 2010 - Demand for Hosted Predictive Analytics Solutions Drives Growth in Revenue and Operating Income
Angoss Software Corporation (Angoss) (TSX-V: ANC) today announced unaudited results for the fourth quarter and fiscal year ended November 30, 2009, reporting strong growth in revenues and operating profitability.
2009 revenues were $8,572,308, up 14% from 2008 revenues of $7,541,523. Fourth quarter revenues of $2,239,017 were up 21% from 2008 fourth quarter revenues of $1,855,106. Revenue growth resulted primarily from expansion of the Company's on demand predictive analytics solutions business, highlighted by expanding sales of the Angoss KnowledgeSEEKER data mining plug-in for Salesforce.com and the Company's acquisition of the IntelliMaxx(TM) integrated marketing solutions business.
The Company also reported a net loss of $63,398 ($0.01 per share) compared with 2008 net income of $334,255 ($0.05 per share). Reduced net income resulted from debt service and amortization expenses of approximately $493,000 associated with the Intellimaxx™ acquisition, and a $620,000 adverse swing in foreign exchange due to the weakening of the US Dollar during 2009.
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