Tuesday, 30 October 2007

Serenic Gains Traction as Revenue Soars In Second Quarter

(SER: TSX-V)

Serenic Corporation today released its much-anticipated Q2 financial results for the quarter ending August 31st.

Financial Highlights include:
· Posted record Q2 2008 revenues of $4,083,352, representing an impressive 94.7% increase over Q2 2007;
· F2008 year-to-date revenues of $5,908,931, representing a 60.5% increase over the same six-month period in 2007;
· 263% increase in net income for the quarter, compared to same period last year;
· Earnings per share were $0.07 (basic & fully diluted) this quarter;
· 1st seven-figure deal signed with Care International.

This quarter also saw significant business achievements, which included:
Signed Techno Brain as a distribution partner in Africa;
Significant recognitions from Microsoft: Microsoft’s President’s Club for sales achievements, Microsoft’s Inner Circle Club (Top 1% of partners), Microsoft’s Top Dynamics Independent Software Vendor for 2007;

Serenic is currently trading at 12x EPS of $0.06 reported for the first six months of the fiscal year and 1.9x projected F08 revenue on a fully diluted basis of approximately 19 million shares.

With this very positive Q2 report and well over 200 deals in its sales pipeline, Serenic’s revenue objective of $10 million for F (08) appears to be well within reach.

To read the release, please click here.