SeaMiles, Any Cruise Line...Any Time, Announces Record First Quarter Results
May 27 2009 - 3:15PM
Marketwired
SeaMiles Limited (the "Company") (TSX VENTURE: SEE), North
America's premier cruise loyalty provider, today announced first
quarter results for the period ended March 31, 2009.
For the 2009 first quarter, the Company reported total revenue
of $3,194,594, an increase of 24% compared to $2,574,243 during the
same quarter in 2008 as a result of a favourable foreign exchange
fluctuation. Income from continuing operations before income taxes
was $456,893 compared to a loss of ($55,294) in the prior year.
This improvement was due to the favourable foreign exchange
fluctuation and a reduction in direct loyalty program costs in
2009. After taking into account a provision for future income taxes
of $168,000 in 2009, income from continuing operations was $288,893
or $0.02 per share compared to a loss of ($55,294) or $0.00 per
share last year. The 2009 first quarter net income was $288,893 or
$0.02 per share as compared to a loss of ($104,197) or ($0.01) per
share last year, which included a charge of $48,903 for
discontinued operations.
"Our first quarter results confirm the growing awareness and
enthusiasm that both our existing and new cardholders have for
SeaMiles. Any Cruise Line... Any Time allows cruisers to have total
flexibility at the time of point redemption. With no fees,
restrictions or blackouts, SeaMiles continues to be the proven
choice for cruise aficionados." said Peter Rooney, President.
Rooney added "With the growing popularity of social communities,
SeaMiles recently embarked in creating its own standalone cruise
community, CruiseTube (www.cruisetube.com), which enables members
to share their love of cruising before, during and after their
cruise experience."
ABOUT SEAMILES LIMITED
SeaMiles is North America's premier cruise loyalty provider,
committed to recognizing and rewarding the cruiser through multiple
earning opportunities and best-in-class, maximum award flexibility
based on "Any Cruise Line...Any Time". Additional information can
be found at www.seamiles.com.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: SeaMiles Limited Peter Rooney President (416) 398-1555
Ext. 442 peter.rooney@seamiles.com SeaMiles Limited Steven Wise
Chairman and CEO (416) 631-3400 steven@seamiles.com
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