Matrikon™ is on Track to Achieve Expected Growth | Automation.com

Matrikon™ is on Track to Achieve Expected Growth

April 122006
Q2 2006 Highlights
  • Revenue growth of 7% to $17.89 million over Q2-05
  • Net income of $1.23 million or $0.04 per share in Q2-06
  • Year-to-date revenue growth of 18% to $37.24 million
  • Year-to-date net income of $2.71 million or $0.09 per share
  • Record gross margin of 58% in the second quarter
  • Continued appreciation of the Canadian dollar had a negative after tax impact of $(0.01) per share in the quarter, $(0.03) per share year-to-date
  • Matrikon confirms fiscal year 2006 guidance for revenue growth of 10-15% and net income growth of 34-62%

    Edmonton, AB -April 12, 2006 - Matrikon Inc. (TSX: MTK), a leading provider of solutions for industrial intelligence, today reported financial results for the second quarter of fiscal year 2006, which ended February 28, 2006.

    "We continue to deliver according to our strategy," stated Amin Rawji, president & chief executive officer of Matrikon. "We executed well and are pleased with our performance. We are continuing to position for future growth by investing in people and in sales and marketing."

    Second quarter revenue grew by 7% to $17.89 million from $16.72 million in the comparable period of fiscal 2005. Income from operations was $2.64 million in the second quarter of 2006, compared to $2.42 million in the second quarter of 2005. Net income in the second quarter was $1.23 million, or $0.04 per share, compared to $2.35 million, or $0.08 per share, in the second quarter of 2005. Second quarter net income was reduced by $0.40 million net of tax or $0.01 per share as a result of foreign currency fluctuation compared to an increase to net income of $0.67 million net of tax or $0.02 per share in the same period of fiscal year 2005. The second quarter contains 10% fewer work days than other quarters as a result of a company-wide week long holiday closure in December, which impacts consulting revenue.

    Quarter Highlights:
  • Matrikon announced its Partner Growth Program designed to expand distribution channels and market reach and to create global brand awareness. Moore Process Controls in South Africa was the first solution provider to sign up under this program.
  • Matrikon held its annual global sales conference in January 2006. Over 125 employees from around the world attended the two and a half day conference which covered product and solution training, industry applications and sales account workshops.
  • Matrikon requalified as one of Canada's 50 Best Managed Companies. The award program recognizes Canadian companies that demonstrate innovation, exceptional growth, financial success and a strong corporate culture.
  • A major petroleum company standardized on ProcessDoctor(tm) for control asset optimization. ProcessDoctor will be installed at up to 16 refineries globally.

    MD&A and Financial Statements
    The complete Management's Discussion and Analysis and Financial Statements can be found on Matrikon's website at www.matrikon.com/corporate/investors/financial/q-reports.aspx or by contacting Nicole Sayler at 1-877-628-7456 extension 4010.

    Conference Call Wednesday, April 12 at 5:00 pm Eastern
    Matrikon President and CEO Amin Rawji and CFO Nimal Rodrigo will hold a conference call to discuss second quarter results on Wednesday, April 12 at 5:00 pm Eastern time (3:00 pm Mountain time). To participate live, call 416-644-3433 in the Toronto area and 1-800-814-4941 for all other areas.

    A replay will be available until midnight on Wednesday, April 19, 2006. To access the playback service, please dial 416-640-1917 in Toronto or 1-877-289-8525 elsewhere, reservation number 21183535#.

    The conference call will also be web cast at:
    www.newswire.ca/en/webcast/viewEvent.cgi?eventID=1415260

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