EDMONTON, ALBERTA — (Marketwire) — 06/22/12 — Serenic Corporation (the “Company” or “Serenic”) (TSX VENTURE: SER), an international software developer specializing in integrated financial management and human capital management (“HCM”) solutions for Non-Profit organizations, government agencies, and Microsoft Dynamics NAV users, announces its financial results for the three months and year ended February 29, 2012.
Financial results are summarized as follows:
(1) EBITDA represents earnings before interest, taxes, depreciation, amortization, and stock based compensation. Please review the Serenic Management Discussion and Analysis for the three months and year ended February 29, 2012 for more information
Summary of Operations in Fiscal 2012
Fiscal 2012 Financial Highlights
Quarter Highlights
Please refer to the latest financial statements and MD&A filed on for full financial analysis and details.
Outlook
Management believes the outlook for Serenic stakeholders remains positive. Our strategy for Fiscal 2013 is to continue organic growth of core operations through prudent re-investment of our resources, to maintain EBITDA positive results as we grow our business, and to continue to pursue scenarios to maximize value for our shareholders beyond what organic growth would produce.
From an operational perspective, this will involve continuation of development projects that commenced in Fiscal 2012 to ensure that our solutions and products remain at the forefront of technology and functionality as demanded by our marketplace. We will build on our well received “The Year of the Customer” theme that was initiated in Fiscal 2012, in order to further enhance and solidify our clients- experience and loyalties, and will continue to focus on the addition of new customers and partners world-wide.
From a corporate development perspective, we will continue to pursue various strategic opportunities that have potential to enhance shareholder value. These alternatives could involve a capital structure review, strategic partnerships, and/or merger and acquisition scenarios. Management strongly believes that the current market capitalization of the Company as reflected in its share price does not adequately reflect Serenic-s fair value and is determined to take appropriate action that would best serve the interests of shareholders to rectify this situation, as soon as possible.
With $3.94 million of cash on hand ($0.26 per basic common share outstanding) at Fiscal 2012 year end and no long term debt, we believe the Company is adequately financed to operate as anticipated. We are excited about our future opportunities and remain confident in our belief that our intended course of action for Fiscal 2013 will result in the achievement of greater value for all of our stakeholders.
About Serenic Corporation
Serenic Corporation publishes mission-critical software products for not-for-profits (NFP), educational institutions and governments. The Company-s products are based on leading application and technology platforms from Microsoft, including Dynamics NAV, SQL Server, and .NET, and are distributed in North America and internationally through value-added resellers and a direct sales organization. Serenic Corporation is the exclusive developer of human resource management and payroll products for Microsoft Dynamics NAV ERP users in North America. Serenic has offices in Edmonton, Alberta and Denver (Lakewood), Colorado and staff located throughout the USA, and in Europe and Africa.
ON BEHALF OF THE BOARD OF DIRECTORS
By: Dwayne Kushniruk, Chairman
SERENIC CORPORATION
Forward Looking Statements
Certain statements contained in this press release, including statements which may contain words such as “could”, “should”, “expect”, “anticipate”, “believe”, “will”, and similar expressions and statements relating to matters that are not historical facts, are forward looking statements. Such forward looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Serenic Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, software industry risks, general business risks, foreign currency risks, economic dependence risks, and credit risks.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Serenic Corporation
Dwayne Kushniruk
Chairman
1-877-426-5385 x 509
Serenic Corporation
Paul Johnston
CFO
1-877-426-5385 x 509
Cantech Communications
Nick Waddell
Toll free: (877) 737-3642 x144
You must be logged in to post a comment Login