Cytiva Software Inc. Announces Record Second Quarter Results

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Cytiva’s SonicRecruit recruiting system continues to fuel impressive growth for leading talent management software provider.

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SonicRecruit continues to dominate competitive situations where companies need world-class recruiting solutions without the world-class price.

Cytiva Software Inc. (CRX – TSX.V), a leading provider of on-demand talent management software solutions, announced strong Q1 revenue and cash flow growth for the quarter ending June 30, 2007, according to audited financial statements.

Second quarter highlights include:

  •     74% year over year increase in revenue
  •     12th consecutive period of quarter-over-quarter growth
  •     69% year over year increase in deferred revenue
  •     273% increase in cash flow from operations over previous quarter

"Cytiva continues to show growth in what we consider to be our key indicators: revenue, cash flow from operations and deferred revenue," said Jason Moreau, CEO of Cytiva Software. "SonicRecruit’s recurring revenue model continues to fuel Cytiva’s impressive results."

Cytiva’s SonicRecruit racked up a number of head-to-head competitive wins for the quarter, being selected over other vendors by clients like Campbell Ewald, Saddle Creek Corporation, Vancouver Aquarium, VT Griffin and more.

"From the strength of our financials to the flexibility, features and pricing of our products, we continue to beat the competition when it comes to mid-sized and larger deals," said Moreau. "SonicRecruit continues to dominate competitive situations where companies need world-class recruiting solutions without the world-class price."

About Cytiva Software Inc.
Cytiva Software Inc. (CRX:TSX.V) provides innovative software and services to help mid-sized and Fortune 500 companies hire, manage and maximize their talent. Its flagship talent acquisition product, SonicRecruit, allows corporations to screen applicants, automate their recruiting departments, customize their corporate career sites and hire great people. This premier applicant tracking system improves recruiting effectiveness, speeding up the hiring process and reducing cost per hire. Over 175 organizations use SonicRecruit, including Coca Cola Bottlers, Osram Sylvania, Restoration Hardware, NetFlix and more. For more information, visit http://www.sonicrecruit.com

Contact:
Ian Alexander
510-984-1986

The TSX has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

Forward-looking Statements: This news release contains forward-looking statements related to the future financial condition and results of operations of Cytiva. These statements are based on current expectations and estimates about the human resources markets in which Cytiva operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. Some of the factors which could cause results or events to differ materially from current expectations include but are not limited to: general economic conditions, market or business conditions; changing competitive environment; changing regulatory conditions or requirements; changing technology; and success in implementing productivity initiatives. Some of these factors are largely beyond the control of Cytiva.

Should any factor impact Cytiva in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking statements made in this document are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by Cytiva will be realized or, even if substantially realized, that they will have the expected consequences for Cytiva. Readers should not place undue reliance on any forward-looking statements. Further, Cytiva disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrence.

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.

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