Alphinat Announces a Profit of $110,960 for the Quarter Ended May 31, 2020

MONTREAL, July 23, 2020 (GLOBE NEWSWIRE) --

Alphinat Inc. (TSXV: NPA) announces a profit of $110,960 for the quarter ended May 31, 2020.

During the quarter under review, Alphinat has focused its efforts on nurturing and expanding its distribution channels and on diversifying its offering.

In order to accelerate future growth, Alphinat has continued to invest in solutions packaging and marketing SmartGuide along three major areas of focus:

1. SmartGuide Portal Edition for Dynamics 365¹, now available, has optimized the way that clients can now create and deploy online services on top of Microsoft Dynamics 365. This offer is available in hosted cloud, SaaS mode as well as on premises;
    
2. SmartGuide Municipal Cloud aims at offering unparalleled productivity to municipalities. Municipalities are able to choose from a catalogue of pre-built applications, further accelerating the speed at which they can deploy citizen-centric services. These services include service requests, permitting and licensing as well as numerous other citizen-facing services and internal applications;
    
3. SmartGuide CIVIC Portal for Amanda² is a derivative of the Municipal solution front ending a partner solution for an improved user experience for both the client cities and their citizens.

During the quarter under review, the Company sold an additional “SmartGuide Enterprise” license to the government of a Canadian province. Alphinat was also commissioned to assist clients in delivering digital services built using the SmartGuide suite, including SmartProfile for authentication and SmartDB for codeless interaction with databases.

For the 3-month period ended May 31, 20120, the Company recorded total revenue of $449,514 compared to $305,278 for the same period in 2019 due mainly to an important increase in license sales while support revenues saw a  decrease.

For the quarter ended May 31, 2020, Net income before financial expenses, depreciation and amortization amount to $156,110. The Net income for the period ended May 31, 2020 amounted to $110,960 or $0.002 per outstanding common share compared to a loss of $(53,538) or $(0.001) per outstanding common share for the 3-month period ended May 31, 2019.

Alphinat's financial statements and Management's Discussion and Analysis for the quarter ended May 31, 2020 can be found on SEDAR, at www.sedar.com.

The company also announces Karyn Pellatt-Caron has been confirmed as a new member of the board of directors of Alphinat. “We look forward to working with Karyn for her wealth of knowledge, insight and counsel.” says Curtis Page, Alphinat CEO.