Mamma.com Inc. (MAMA-NASDAQ) reported revenues increased by 20% to $2,642,904 due to an increase in search advertising revenues; net loss of $1,380,702 ($0.10 per share), including employee termination costs of approximately $685,000 compared to Q1 2006 net loss of $875,083 including a reimbursement of $460,000 for professional fees. Continuing operations generated cash of $317,275 compared to a use of cash of $91,310 in Q1 2006; Cash and cash equivalents increased by $728,215 during the quarter to $8,699,674.
Martin Bouchard, President and CEO: "During the last few quarters, we focused our attention on reorganizing the Company in a way that ensures efficiency, firm control of our ongoing operating costs, while maintaining a competitive presence. The results of this current quarter demonstrate these efforts. To date, we have successfully expanded our sales and marketing team with the addition of two new US based Senior Vice Presidents responsible for software licensing. In addition, we launched a new, revolutionary product that allows users to search and access all their files, emails, music and videos stored on their PC from virtually anywhere using their mobile phone."
Shares of Mamma.com (MAMA) closed up 5.9% ahead of results on hopes that the losses would be better. Shares have given back all the gains and are now down over 7% from the closing price and down at $5.15 in after-hours trading. It doesn’t help that the company gave no further guidance for micro-cap stock traders to focus on.
Jon C. Ogg
May 10, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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