Business
OneMove(TM) Announces Fiscal 2009 Second Quarter Financial Results
- Company implements cost reductions expected to result in annualized savings of $250,000 - VANCO...
About this update from Osisko Metals Incorporated
[{"type":"text","content":"\n\n\n\n- Company implements cost reductions expected to result in annualized\nsavings of $250,000 -\n\n\nVANCOUVER, March 2 /CNW/ - OneMove Technologies Inc. ("OneMove" or the\n"Company") (TSX-V: OM), which provides a leading web-based real estate\ntransaction platform, today announces its financial results for the three- and\nsix-month periods ended December 31, 2008. OneMove also announces that it has\nimplemented a 20% company-wide reduction in salaries and wages, which came\ninto effect as of March 1, 2009. All figures are reported in Canadian dollars\nunless otherwise stated.\n\n\nQ2 Fiscal 2009 Operational Summary\n----------------------------------\n- The referral campaign the Company launched in Q1 fiscal 2009 drove\n further adoption of econveyance in Q2 fiscal 2009, with OneMove\n adding its 301st firm onto its technology platform, representing a\n 33% increase over 227 firms in Q2 fiscal 2008\n- Expanded user base to 1,279 lawyers and notaries from 524 in Q2\n fiscal 2008\n- Total transactions processed in the quarter were 10,568, compared to\n 11,863 in Q2 fiscal 2008\n- Average daily revenue was $5,001, up from $4,863 in Q2 fiscal 2008,\n primarily as a result of the price increase the company implemented\n as of September 1, 2008, which has grown OneMove's average revenue\n per transaction to $30.00, up from $26.00\n\nQ2 Fiscal 2009 Financial Summary\n--------------------------------\nOn March 7, 2008, OneMove completed the sale of its U.K.-based subsidiary,\nOneMove Limited. As such, OneMove's financial results for the three- and\nsix-month periods ended December 31, 2007, exclude contributions from OneMove\nLimited and are reported on a continuing operations basis.\n\n\n Q2 FY 2009 Q2 FY 2008 % Change\n\nRevenue $319,540 $380,579 (16%)\nAdjusted EBITDA (loss)(1) $(280,874) $(392,072) +28%\nNet income (loss) $(376,124) $(449,213)(2) +16%\nNet income (loss) per share $(0.01) $(0.01)(2) 0%\n\n\n H1 FY 2009 H1 FY 2008 % Change\n\nRevenue $766,259 $809,638 (5%)\nAdjusted EBITDA (loss)(1) $(628,925) $(667,542) +6%\nNet income (loss) $(797,794) $(788,341)(2) (1%)\nNet income (loss) per share $(0.02) $(0.02)(2) 0%\n\n\n"In Q2, we demonstrated the success of our initial cost-cutting measures,\nreducing our expenses on a year-over-year and sequential basis," said Martin\nJohnson, President an...