Cytiva Announces Record First Quarter Results

Emeryville, California (EastBayDaily) — Cytiva Software Inc. (CRX – TSX.V), a leading talent management software vendor, has released audited financial statements for the three-month period ended March 30, 2009.

First quarter highlights include:     Record revenue     78% increase in cash flow provided by operations over the same period last year     23% year over year increase in revenue     64% year over year increase in deferred revenue     New partnership with PEO/HRO CoAdvantage     Announcement of SonicSummit, Cytiva’s first annual user conference.

“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. “This is due to continued sales, satisfied customers and Cytiva’s recurring revenue model.”

The quarter was highlighted by new customer wins with Texas A & M HSC College of Medicine, Development Alternatives, Inc. and Converteam, as well as contract extensions with major clients Oldcastle, Startek and Oakwood Worldwide, among others.

ABOUT CYTIVA SOFTWARE INC. Cytiva Software Inc. (CRX:TSX.V) provides innovative on-demand talent management software and services to mid-sized and Fortune 500 companies. Its flagship recruiting software product, SonicRecruit, allows corporations to screen applicants, automate recruiting departments, customize 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. Cytiva’s SonicPerform employee performance management system automates employee evaluations, aligns employees around key goals and encourages year round feedback. And, Cytiva’s SonicOnboard onboarding solution helps organizations get their new hires productively contributing faster. 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.

Contacts

Ian Alexander
SonicRecruit (Cytiva)
510-984-1986