Cytiva Shows a 98% Increase in Year Over Year Sales Contract Value for the Third Quarter
07 10월 2008 - 10:15PM
Marketwired
Cytiva Software Inc. (TSX-V: CRX), a leading provider of on-demand
talent management software solutions, announced today that the
Company signed over $1,600,000 CDN of new contracted business for
the quarter ended September 30, 2008. The total represents a 98%
increase over the same period last year and marks the company's
highest 3rd quarter sales contract value in its history. In
addition to new contracted sales, Cytiva achieved 94% renewal
revenue.
New contracted business will be reflected in the Company's third
quarter financial statements beginning October 1, 2008. Of the new
contracted business, 36% will be recognized over the next 12
months, 30% in the subsequent 24 months with the remaining 34%
being recognized over the subsequent 36-60 months.
"We are happy to have achieved our highest 3rd quarter sales
number in Cytiva history," said Jason Moreau, CEO of Cytiva
Software. "Though we are vigilant about potential future weaknesses
due to economic conditions, we believe that our Software as a
Service model remains an attractive option for companies that need
to increase efficiency without the up-front cost of perpetual
enterprise software licenses."
Third quarter highlights include:
-- 11 new SonicRecruit customers
-- 2 new one45 customers
-- 2 new SonicPerform customers
-- 98% year over year increase in sales contract value
-- 17th consecutive period of quarter-over-quarter growth
-- SonicRecruit named to the Workforce Magazine Applicant
Tracking System Hotlist
-- Released case study detailing client, Ocean Spray's success
with SonicRecruit
About Cytiva Software Inc.
Cytiva Software Inc. (TSX-V: CRX) provides innovative on-demand
talent management software and services to mid-sized and Fortune
500 companies. Its flagship talent acquisition product,
SonicRecruit, allows corporations to screen applicants, automate
recruiting departments, customize corporate career sites and hire
great people. This premier applicant tracking system improves
recruiting effectiveness, speeding up the hiring process and
reducing cost per hire. Cytiva's SonicPerform employee performance
management system automates employee evaluations, aligns employees
around key goals and encourages year round feedback. For more
information, visit http://www.sonicrecruit.com.
The TSX has not reviewed and does not accept responsibility for
the accuracy or adequacy of this news release, which has been
prepared by management.
Forward-looking Statements: This news release contains
forward-looking statements related to the future financial
condition and results of operations of Cytiva. These statements are
based on current expectations and estimates about the human
resources markets in which Cytiva operates and management's beliefs
and assumptions regarding these markets. These statements are
subject to important risks and uncertainties which are difficult to
predict and assumptions which may prove to be inaccurate. Some of
the factors which could cause results or events to differ
materially from current expectations include but are not limited
to: general economic conditions, market or business conditions;
changing competitive environment; changing regulatory conditions or
requirements; changing technology; and success in implementing
productivity initiatives. Some of these factors are largely beyond
the control of Cytiva. Should any factor impact Cytiva in an
unexpected manner, or should assumptions underlying the
forward-looking statements prove incorrect, the actual results or
events may differ materially from the results or events predicted.
All of the forward-looking statements made in this document are
qualified by these cautionary statements, and there can be no
assurance that the results or developments anticipated by Cytiva
will be realized or, even if substantially realized, that they will
have the expected consequences for Cytiva. Readers should not place
undue reliance on any forward-looking statements. Further, Cytiva
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or any other occurrence.
Distributed by Filing Services Canada and retransmitted by
Marketwire
CONTACT: Ian Alexander Email Contact 510-984-1986
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