Selectica Achieves Profitability And Positive Cashflow In Fourth Quarter Fiscal 2010
Selectica (NASDAQ: SLTC), a leading provider of contract lifecycle management and sales configuration solutions, today announced financial results for its fourth quarter and full fiscal year ending March 31, 2010.
Highlights in FY Q4 2010:
“I am pleased with our performance in the quarter. We achieved profitability and added cash,” said Jason Stern, President and Chief Operating Officer of Selectica. “By controlling expenses, investing in R&D, and continuing to grow the pipeline, we are well-positioned to continue our success and further distance ourselves from the competition.”
Net income for the fourth quarter of fiscal 2010 was $205,000, or $0.07 per share, compared to a net loss of $737,000, or $(0.26) per share, in the third quarter of fiscal 2010 and a net loss of $1.5 million, or $(0.67) per share, in the fourth quarter of fiscal 2009. Fourth quarter of fiscal 2010 net income benefited from the reversal of certain non-recurring payroll charges related to stock options and other tax liabilities. These are reflected as a reduction to operating expenses and the provision for income taxes, respectively.Revenue for the fourth quarter of fiscal 2010 was $3.8 million compared to $4.4 million for the third quarter of fiscal 2010 and $5.4 million for the fourth quarter of fiscal 2009. Revenue split was 30% license and subscription revenue, 40% maintenance and support revenue, and 30% professional services and other revenue. By product, 61% or $2.3 million, was related to contract lifecycle management software, and 39% or $1.5 million, was related to sales configuration software. Cash, cash equivalents, and short-term investments were $17.2 million on March 31, 2010. Selectica generated net cash of $106,000 in the quarter, reflecting improved operating results and the return of a large cash deposit.
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