EmerGeo Announces Q2 Financial Results
Vancouver, B.C., – November 30, 2009 – EmerGeo Solutions Worldwide Inc. (TSX-V: EMG), a leading provider of emergency management software and consulting services, today announced financial results for the three-month period ending September 30, 2009.
Highlights for the Quarter:
- Record revenues: $1,048,529, up 102% from $518,587 for the same period in the prior year.
- Gross margin: 36% for 2009, up from 32% for the same period in the prior year.
- Operating costs: $701,617, up from $615,073 for the same period in the prior year.
- Improved bottom line: Net loss of $367,223 compared to $443,090 for the same period in the prior year.
- Cash flow from operations: Improved negative cash flows from operations of $453,316, compared to negative $628,801 for the same period in the prior year.
Sales for the second quarter of fiscal 2010 were $1,048,529, an increase of $529,942 or 102% over the same period in the prior year. Increases in EmerGeo’s emergency management professional services in the Middle East provided strong growth in the quarter.
- EmerGeo announced that its subsidiary Emergeo Software Solutions Middle East LLC has secured an AED 1,935,000 (C$615,000) strategic contract within the United Arab Emirates (UAE) in the Middle East. (July, 2009).
- Subsequent to quarter end, EmerGeo announced a new $1,000,000 debt financing with Working Opportunity Fund (EVVC) Ltd. that will be used to accelerate the Company’s international expansion with investment in sales and marketing, software development and support services. (October, 2009).
- Subsequent to quarter end, EmerGeo announced a contract award from the City of Vancouver. EmerGeo’s software and services will be used in a federally funded project titled: “Integrating Situational Awareness: Publishing Alerts, Incident Information, Roadway Impacts, and Critical Infrastructure Data”. The goal of the project is to increase situational awareness within the City of Vancouver and help the Vancouver Office of Emergency Management achieve its vision of a disaster resilient Vancouver. (November, 2009)
A complete set of Q2 2010 Financial Statements and Management Discussion & Analysis are available on EmerGeo’s corporate website, http://www.emergeo.com/.
In addition, EmerGeo is pleased to announce that the Company will host a conference call to update investors on Friday, January 8, 2010, at 10:00 AM Pacific Time (1:00 PM Eastern Time).
Mike Morrow , President and CEO of EmerGeo will provide a corporate update and discuss current plans for the Company. The Management Team will be available to respond to questions at the end of the update.
Investors, brokers, analysts, and media are encouraged to join the call through one of the following phone numbers:
- Canada and USA: 1-800-732-6870 1-800-732-6870
- International: 1-212-231-2905 1-212-231-2905
If you are not able to listen in on the conference call, we will make it available online at 4:00 PM Pacific Time (7:00 PM Eastern Time) on our corporate web site, http://www.emergeo.com/.
We look forward to having you listen to this update and to your questions.
EmerGeo develops emergency management software solutions and provides consulting services and support to government and industry around the world. EmerGeo’s FusionpointTM and emergency mapping applications are used to log, track and communicate critical information required by emergency and security personnel. By leveraging open web standards, EmerGeo’s software brings together data from dispatch, crisis management, mapping, camera and other third-party systems, providing a common operating picture. EmerGeo’s technology and people have been at the forefront of some of the world’s largest disasters and are proven effective in helping government and industry to mitigate against, prepare for, respond to and recover from potential or actual incidents, natural disasters, acts of terrorism, or pre-planned events.
On behalf of the Board of Directors,
EMERGEO SOLUTIONS WORLDWIDE INC.
President & CEO
For more information contact the Company at:
Telephone: (604) 604-681-0989
Facsimile: (604) 604-681-0079
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“Protecting People, Property & the Environment“