First quarter revenue fell 37% for Vancouver's Maximizer Software Inc. (TSX:MAX) as sales slowed in all three of its major markets during the period ending February 28, 2009.
Revenue fell to US$2.8 million from US$4.4 million in the same period a year ago. Revenue in the Americas fell 39% to US$1.7 million from US$2.8 million. Revenue from sales in Europe and the Middle East fell 44.4% to US$500,000 from US$900,000. Sales in Asia fell 25% to $600,000 from US$800,000.
The company dampened the impact of slower sales by cutting operating expenses by 21%, primarily in its sales and marketing and administration.
Nevertheless, net loss for the quarter rose to US$800,000 compared with a net loss of US$300,000 in the first quarter of 2008.
The company said it will continue to improve the company's bottom line results as the downturn continues.
Maximizer's share price range during the past week: between $0.03 and $0.04: 52-week high: $0.125: 52-week low: $0.01.