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Intema Solutions Inc.: Intema Solutions Inc Announces Second Quarter Results

^{Published on 2009-08-31 12:36:51 - Market Wire}
 

MONTREAL, QUEBEC--(Marketwire - Aug. 31, 2009) - Intema Solutions Inc (TSX VENTURE:ITM) announced today its financial results for the second quarter ended June 30th, 2009. All amounts are in Canadian dollars unless otherwise indicated.

The company's revenues increased by 8% to $580,558 in the quarter and increased 1% to $1,076,368 in the first six months of the year. This increase is consistent with the increase the company has seen since the acquisition of Komunik Konversation in February 2009.

The company's margin on Earnings before amortization, financial expenses and income taxes (EBITDA), a measure of operating performance used by management and certain users of our financial statements, improved to 11% for the quarter and 12% for the first six months compared to a negative 26% and 9% last year. The EBITDA has now been positive for the last three quarters.

"These results, greatly improved compared to last year and confirm that Intema is now in strong position for a growth. The company consolidated important customers accounts acquired in the Komunik Konversation deal, the objective is now to increase its business development", stated Roger Plourde, President and CEO of Intema.

Non-GAAP Measure

The reader should note that the Company reports its financial results in accordance with GAASP. However, in this press release, the following non-GAAP financial measure is used: Earnings before amortization, financial expenses and income taxes (EBITDA). Management believes that this non-GAAP measure provides useful information to investors regarding the company's financial condition and results of operations as they provide additional measures of its performance. This measure should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with GAAP.

Intema Solutions inc.

Intema Solutions Inc.'s mission is to integrate technologies to marketing. Its services include relationship marketing, online visibility, website persuasion, virtual community marketing and online collaboration. Since 1994, INTEMA has dedicated its efforts in delivering key solutions to the Marketing industry. Amongst its clients are companies of all sizes in North America.

For more information, please visit our website at [ www.intema.ca ]

Caution concerning forward-looking statements

Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of Intema Solutions Inc. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. The business of the Company and these forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ from expected results. A description of risk factors is discussed in the Company's Annual MD&A and financial information filed with the securities regulatory authorities in Canada. The Company's business, financial condition or operating results could be materially adversely affected if any of these risks and uncertainties were to materialize. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SELECTED FINANCIAL INFORMATION OF INTEMA SOLUTIONS INC

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 Quarter ended Six month ended
 June 30th June 30th
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 2009 2008 2009 2008
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Financial performance
Revenues 580 558 539 617 1 076 368 1 061 693
EBITDA (1) 63 133 (145 027) 125 538 (97 378)
EBITDA margin (1) 10.9% -26.9% 11.7% -9.2%
Net earnings (111 982) (126 983) (186 075) (77 269)
Net earnings per share
 - Basic (0.0045) (0.0093) (0.0075) (0.0057)
 - Diluted (0.0044) (0.0093) (0.0074) (0.0057)
Cash flows provided
 by continuing
 activities (10 263) (94 086) (236 910) (95 532)
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Financial situation
Total assets 5 576 870 2 439 153
Shareholders' equity 3 580 039 1 040 403
Shareholders' equity
 per common share 0.14$ 0.08$
Working capital (553 690) 448 141
Current ratio 0.71 1.35
Long-term debt
 (current and
 long-term portions) 825 473 350 422
Long term debt to
 capitalization ratio 23.1% 33.7%