TORONTO, Jan. 29 /CNW/ - Angoss Software Corporation (Angoss)
(TSX-V: ANC) today announced preliminary unaudited results for the fourth
quarter and fiscal year ending November 30, 2006.
Expanded use of Angoss predictive analytics systems by banking, mutual
funds, insurance and telecom clients resulted in record fourth quarter and
fiscal year revenues. The Company also reported higher operating and net
income, with growth in cash flow and deferred revenues.
On an earned basis, annual revenues grew 8.5% to $6,824,114 (2005:
$6,289,016). Deferred revenues were up 21.5% to $3,201,319 (2005 -
$2,635,708). Operating expenses increased 2.5% to $6,111,999 from prior year
expenses of $5,964,587. Operating income for the year grew 122% to $680,492,
compared with prior year operating income of $306,709. Net income improved to
$310,879 compared with a prior year net loss of $126,281.
On a billed basis, annual revenues grew 13.5% to $7,327,374 (2005: 数据挖掘研究院
$6,455,164). The Company also closed the year with over $2 million in cash,
after paying $575,000 for scheduled retirement of preferred shares. Operating
cash flow increased to $1,087,160 (2005: use of $76,188), a $1.2 million
improvement.
Fourth quarter earned revenues grew 8.3% to $1,825,819 (2005:
$1,685,300). Operating expenses were $1,746,730, up 14% from prior year fourth
quarter results, with year-over-year declines in operating expenses offset by
one-time fourth quarter variable compensation payments linked to annual
financial performance. Fourth quarter operating income was $75,340, compared
with fourth quarter 2005 operating income of $148,864. Net income was $53,314,
up from prior year net income of $32,784.
"Our 2006 results reflect continued expansion of existing customer
relationships, new client additions, the expansion of our analytics solutions
portfolio, and a growing pipeline of new opportunities in the financial
services and information and communications technology markets," commented
Angoss President Eric Apps. "Our demonstrated capability to deliver rapid,
measurable return on investment through accelerated customer acquisition
rates, higher revenue growth, improved insight into customer risk, and faster
time to data driven decisions, are key differentiators for clients selecting
Angoss."
Fourth Quarter and Fiscal Year Highlights
Angoss predictive analytics solutions combine market proven Angoss
predictive analytics software and industry specific templates, best practices
and implementation services that help clients achieve business value benefits
from predictive analytics faster, and at lower cost.
Angoss implementations are geared to industry and client specific stages,
needs and capabilities, using the Angoss Predictive Analytics Maturity
Model(TM) a proven implementation methodology which ensures rapid return on 数据挖掘研究院
investment, effective knowledge transfer, and rapid solution availability
using both technology licensing and subscription service delivery models.
Angoss FundGUARD(TM) System Drives Significant Growth In Assets Under
Management
Angoss FundGUARD(TM) helps mutual fund and wealth management companies
use predictive analytics to drive territory coverage planning and growth in
assets under management, while reducing redemption risk. The Angoss
FundGUARD(TM) solution continued to extend its market leadership position in
the North American mutual fund industry, with expansion during 2006 of
subscriptions at current clients, new client signings, and continued expansion
of the Company's opportunity funnel, focused on North American and European
mutual fund industry prospects. Angoss FundGUARD(TM) has generated hundreds of
millions of dollars in incremental assets under management, providing 数据挖掘实验室
significant business insight and value to mutual fund managers seeking to help
their sales organizations achieve improved sales performance and results.
Angoss ClaimGUARD(TM) System Helps Insurers Grow Premiums, Reduce Costs
and Flag Abuse
During the fourth quarter Angoss commenced implementation of the Angoss
ClaimGUARD(TM) system enabling improved fraud and abuse detection and better
insight into the drivers of claims costs at one of North America's largest
benefits insurance carriers. Angoss ClaimGUARD(TM) helps insurers grow premium
revenues by better understanding key drivers of claims costs and outcomes,
reduce loss ratios through more efficient analysis and assessment of claims,
and reduce claims fraud risk. The Angoss solution, implemented in multiple
phases, and available under both licensing and software-as-service delivery
models, enables identification of high risk claim, claimant and care provider
targets in support of the carrier's claims fraud and abuse detection
requirements. Angoss ClaimGUARD(TM) has already resulted in significant,
documented, actionable business value benefits for the client, within weeks of
the launch of the initial solution delivery phase. Angoss expects to continue
to expand its opportunity funnel for the Angoss ClaimGUARD(TM) solution
implementations with North American benefits and P&C insurers during the 2007
fiscal year.
Angoss Extends Predictive Analytics Solutions and Capabilities to Telcos
During the fourth quarter Angoss extended its solutions capability in the
telecommunications industry, providing a leading US based telecom carrier with
analytics software supporting credit risk analysis and scorecard development.
Angoss was also selected by one of Canada's leading telecommunications
providers to provide a credit risk scorecard supporting its customer lifecycle
management needs.
Angoss Analytics Suite Addresses Enterprise Predictive Analytics
Requirements
During the fourth quarter Angoss continued to add to its client base
within the global financial services industry, with deployments of
KnowledgeSEEKER(R) (Knowledge Discovery), KnowledgeSTUDIO(R) (Predictive
Modeling), and its newly released StrategyBUILDER(TM) (Decision Optimization)
predictive analytics software suite, including additional deployments at one
of North America's leading financial services organizations, and one of North
America's largest telecom carriers. Moving into 2007, Angoss is positioning
these capabilities for identified targeted enterprise accounts on new
licensing terms that significantly extend business user access to Angoss
products, leverage Angoss' significantly higher ease of use attributes, and
further extend our affordability value proposition by adopting a business 数据挖掘研究院
intelligence based pricing model to the data mining software segment. Angoss
offerings provide significant total cost of ownership benefits over
traditional packaged applications used by expert users for statistical
analysis and data mining. Angoss will be staffing a dedicated demand
generation team with associated investments in market targeting, campaign
automation, and demand creation tools. This realignment and rationalization of
resources is expected to be completed during the first quarter of 2007 and
result in higher productivity and improved margins on analytics software
sales, while maintaining stable overall operating expense levels for the
balance of the year.
Operations Update
In January, 2007 the Company relocated to new and expanded premises, with
associated investments in new systems, leasehold improvements and related
areas to support business growth. The relocation is not expected to materially
impact on quarterly operating costs, and the new location provides a better
platform for expanded growth. The combination of seasonal factors and
disruption in normal operations associated with the move, may have some impact
on first quarter results, but the Company's fiscal 2007 outlook is currently
positive.
Results Summary
Unaudited preliminary results for the three months and twelve months
ended November 30, 2006 and corresponding 2005 results are as follows:
<<
Angoss Software Corporation
Income Statement Information
(unaudited, stated in Canadian dollars)
Three Months ended YTD-Twelve Months ended 数据挖掘研究院
-------------------------- --------------------------
November 30, November 30, November 30, November 30,
2006 2005 2006 2005
Revenues $ 1,825,819 $ 1,685,300 $ 6,824,114 $ 6,289,016
-------------------------- --------------------------
Gross margin 1,822,070 1,680,335 6,792,491 6,271,296
Operating Expenses
General and
administration 481,725 342,593 1,668,564 1,488,555
Sales and
marketing 887,484 917,281 3,199,698 3,288,078
Research and
development, net 377,521 271,597 1,243,737 1,187,954
-------------------------- --------------------------
1,746,730 1,531,471 6,111,999 5,964,587
-------------------------- --------------------------
Income (loss)
before the
following 75,340 148,864 680,492 306,709
Other income 31,537 31,670 187,829 62,318 数据挖掘研究院
Amortization of
capital assets (63,632) (28,667) (188,304) (109,487)
Amortization of
deferred charges (22,800) (27,622) (81,895) (107,155)
Dividend expense (28,263) (39,370) (119,073) (160,450)
Foreign exchange
(loss) gain 86,237 (49,412) (27,170) (52,204)
Stock option
expense (25,105) (2,679) (141,000) (66,012)
-------------------------- --------------------------
Net income (loss)
for the period $ 53,314 $ 32,784 $ 310,879 $ (126,281)
-------------------------- --------------------------
-------------------------- --------------------------
Basic and diluted
loss per share $ 0.00 $ 0.00 $ 0.01 $ 0.00
-------------------------- --------------------------
-------------------------- --------------------------
Weighted average
number of shares
outstanding
Basic 39,599,752 39,499,723 39,581,986 39,474,069 数据挖掘研究院
Diluted 40,830,270 39,627,498 41,526,074 39,474,069
Selected Cash Flow Information
(unaudited, stated in Canadian dollars)
Three Months ended YTD-Twelve Months ended
-------------------------- --------------------------
November 30, November 30, November 30, November 30,
2006 2005 2006 2005 数据挖掘实验室
Cash (used in)
provided by
operating
activities $ 319,088 $ 420,837 $ 1,087,160 $ (76,188)
Cash used in
investing
activities (80,082) (23,190) (319,570) (210,630)
Cash provided by
financing
activities (597,774) (590,858) (493,753) (617,382)
-------------------------- -------------------------- 数据挖掘研究院
Net (decrease)
increase in cash
during the period (358,768) (193,211) 273,837 (904,200)
Selected Balance Sheet Information November 30, November 30,
(unaudited, stated in Canadian dollars) 2006 2005
Cash and cash equivalents $ 2,093,985 $ 1,820,148
Accounts receivable 1,831,410 1,809,739 数据挖掘研究院
Prepaid expenses 479,591 232,100
--------------------------
Total current assets 4,404,986 3,861,987
Other assets 441,147 327,032
--------------------------
Total assets $ 4,846,133 $ 4,189,019
--------------------------
Accounts payable and accrued liabilities $ 702,243 $ 625,917
Deferred revenue 3,201,319 2,635,708
Current portion of repayable contribution 88,835 79,500
Current portion of capital leases 43,379 -
Current redeemable portion of preferred shares 575,000 575,000
Other 18,333 26,026
--------------------------
Total current liabilities 4,629,109 3,942,151
--------------------------
Repayable contribution agreement - 82,151
Capital leases 70,628 -
Class A Preferred shares, Series 1 520,482 1,030,738
--------------------------
Total liabilities 5,220,219 5,055,040
Total shareholders' deficit (374,086) (866,021)
--------------------------
Liabilities and shareholders' equity $ 4,846,133 $ 4,189,019
-------------------------- 数据挖掘研究院
>>
Angoss Software empowers people to make "Better Business Decisions. Every
Day."(TM)
Some of the world's leading financial services, telecom, life sciences,
and retail organizations use Angoss predictive analytics software and services
to grow revenues, while reducing risk and cost. Angoss helps our clients
utilize business data to discover the key drivers of behavior, predict future
trends and events, and act with confidence when making business decisions.
Angoss combines powerful market proven software with focused industry
services expertise in the deployment, integration and use of predictive
analytics in enterprise environments. Our differentiators include broad user
acceptance, a commitment to open standards, rich functionality, rapid
deployment, exceptional ease-of-use and affordability.
Headquartered in Toronto Canada, Angoss has offices in the UK and 数据挖掘研究院
partners with the world's leading enterprise software and services vendors.
For more information, visit www.angoss.com.
This press release contains statements of a forward-looking nature. These
statements are made under the "safe harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. The accuracy of these statements may
be impacted by a number of business risks and uncertainties that could cause
actual results to differ materially from those projected or anticipated,
including: the risk that the sale of our products and services involves a long
sales cycle; the risk that the economic environment and business conditions
will remain difficult to predict; the risk of competition in our target
markets; the risk that we may not respond adequately to evolving technologies;
the risk that we or our customers may have difficulties in introducing our
products or services; the risk that we will encounter difficulties in 数据挖掘实验室
continuing to offer services; the risk that we will encounter difficulties in
integrating the operations of acquired companies with our own; the risks of
conducting our operations in a variety of international locations; the risk
that we may need to record future write-downs of assets arising from our
investments in other companies; the risks relating to the costs that we may
incur as a result of litigation against us; and other risks described in our
filings with securities regulatory authorities, including our annual reports,
interim financial statements and similar disclosure documents. Angoss Software
Corporation does not undertake any obligation to update this forward-looking
information after the date of its initial publication, except as required
under applicable law.
Note: The Toronto Venture Exchange has neither approved nor disapproved
the above information.
