iPerceptions Inc. (TSX-V: IPE), a leading provider of web-focused Voice of Customer (VoC) analytics using advanced intercept survey technology to gather feedback from representative samples of actual visitors, today reported its financial results for the third quarter of 2011. All amounts in Canadian dollars unless otherwise stated.

Highlights for the third quarter of 2011 include:

• Third quarter revenue of $1,410,869, an increase of 16% over the corresponding period in the previous year excluding the effect of foreign exchange.
  
  
• Operating loss of $53,526 in the quarter, a 54% improvement from the corresponding period in the previous year.
  
  
• The addition of 71 companies to the Corporation’s customer portfolio including high-profile clients such as Cox Communications and Time Inc. We also renewed annual contracts with high profile clients such as Comcast, Norwegian Cruise Line, Monster, Kodak and Lenovo.   
  
  
• The general availability of iPerceptions’ Mobile Website Feedback Solution - a random sampling survey solution optimized for mobile browsers.
  
  
• Bi-directional iPerceptions-Tealeaf session integration, whereby clients can manipulate iPerceptions webValidator respondent feedback data in Tealeaf products or link to Tealeaf session replay information from the iPerceptions portal.
  
  
• Winning the Google Analytics Partner Summit ‘Third-Party Application’ competition and becoming the ‘Featured App’ in the Google Analytics App Gallery.

“iPerceptions has reported record revenues for three out of the last four quarters,” said Claude Guay, President and CEO of iPerceptions. “Many factors have contributed to our financial success, including renewing and acquiring enterprise clients and continuously bringing new products and solutions to the market.”

webValidator Continuous Listening Solution

The Corporation launched iPerceptions Mobile Website Feedback, innovating with a random sampling survey solution optimized for mobile browsers. Also, in cooperation with Tealeaf Technologies Inc., the Corporation finalized the implementation of a bi-directional Tealeaf session integration, whereby clients can manipulate webValidator respondent data in Tealeaf or link to Tealeaf sessions from the iPerceptions portal.

The webValidator Continuous Listening Solution is the complete online Voice of Customer analytics suite. Its robust set of analytics resources, online tools and issue-based analyses help web analysts and online marketing professionals plan for success, all in one place.

4Q Suite

On September 14, 2011, the Corporation’s 4Q Suite won the Google Analytics Partner Summit ‘Third-Party Application’ competition. As a result, 4Q Suite became the ‘Featured App’ in the Google Analytics App Gallery. The Corporation has since rolled out a series of improvements related to the products Google Analytics integration feature, including the ability to assign 4Q Suite variables such as Task Completion and Overall Experience as Metrics in Google Analytics, the ability to filter open-ended survey comments based on Google Analytics variables within the 4Q Suite dashboard, more robust security improvements, and a new integration interface.

4Q Suite was made generally available in May 2011 and offers an array of features all designed to help businesses increase site satisfaction, build engagement and optimize conversion. These features include Google Analytics integration, automatic alerts of significant changes, global industry benchmarks, email reports, word clouds and text categorization features, CRM capabilities such as email collection, ads and coupons on the survey thank-you page, and more.

4Q Suite was built on the Corporation’s original 4Q survey solution, which was developed in collaboration with Avinash Kaushik, a noted web analytics author and blogger. It provides a very affordable entry point for organizations into online Voice of Customer analytics. 4Q Suite boasts thousands of satisfied clients, more than 900 of which have already enabled the Google Analytics integration.  

Third quarter 2011 financial highlights:

• For the third quarter of 2011, revenue was $1,410,869 compared to $1,268,912 in the same period in 2010, representing an increase of $141,957 or 11%. Gross profit as a percentage of revenue was 65% for the third quarter of 2011 as compared to 64% for the same period in 2010. 
  
  
• Operating loss for the third quarter of 2011 was $53,526 compared to $115,195 for the same period in 2010, representing an improvement of $61,669 or 54%.
   
• Comprehensive loss for the third quarter of 2011 was $271,712 compared to $387,222 for the same period in 2010, including non-cash charges for interest and accretion of discount on convertible debentures in the amount of $243,455 (Q3 2010: $229,454). The basic and diluted loss per share for the third quarter of 2011 was $0.01 compared to a loss per share of $0.01 for the same period in 2010. 
  
  
• Cash and cash equivalents totaled $830,490 as of September 30, 2011. During the third quarter of 2011, cash provided by operating activities amounted to $302,337 compared to cash used in operating activities of $52,060 in the same period in 2010, representing an improvement of $354,397 over the same period in 2010.

This press release includes reference to operating loss, which is a non-IFRS financial measure.  Operating loss does not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other issuers. It is not intended to replace financial information prepared in accordance with IFRS. For more information please consult our Consolidated Financial Statements and Management Discussion and Analysis available on SEDAR at www.sedar.com.

About iPerceptions:

iPerceptions is the leader in web-focused Voice of Customer analytics, using advanced intercept surveys to gather feedback from representative samples of actual visitors. Its webValidator Continuous Listening solution and 4Q Suite solution turn millions of data points into easy-to-understand strategic and tactical decision support, while its Web Analytics Solution Profiler (WASP) provides superior web analytics quality assurance. iPerceptions’ clients include well-known brands such as Dell, InterContinental Hotels, LG Electronics, General Motors, Harvard Business Review, Choice Hotels International and Monster Worldwide. For more information, please visit www.iperceptions.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.