Cytiva Grows Revenue In 1st Quarter; Reduces Loss

Bucking an industry trend caused by the recession, Cytiva Software, maker of the SonicRecruit line of talent management software, has posted a first-quarter increase in revenue while reporting its smallest loss in at least five quarters.

The Canadian company, which trades on the Venture Board of the Toronto Stock Exchange, reported today that it lost $148,000 (CAD) on revenues of $1.88 million (CAD). Revenue for the same period in 2008 was $1.52 million (CAD), with a loss of $299,000 (CAD).

Cytiva first reported its financials in May. The current release is of audited financials, which are nearly unchanged from the initial numbers.

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“Despite a highly challenging selling environment, Cytiva’s first-quarter results show strong growth in our key success indicators: Revenue, deferred revenue, and positive cash flow from operations,” said Jason Moreau, CEO of Cytiva Software.

The press release announcing the first quarter results doesn’t include any financial numbers. The numbers used here come from InvestorPoint.

John Zappe is the editor of and a contributing editor of John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

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