This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Voxware Reports Third Quarter Results For Fiscal 2010

Voxware, Inc. (Nasdaq: VOXW), a leading supplier of software for voice-driven warehousing operations, reported results for the three and nine months ended March 31, 2010. Overall revenues decreased 17% to $3.354 million for the quarter ended March 31, 2010 from $4.021 million during the comparable prior year period. Revenues decreased 12% to $9.465 million for the nine months ended March 31, 2010 from $10.724 million during the comparable prior year period. Net loss on a Generally Accepted Accounting Principles (“GAAP”) basis was $591,000 for the quarter ended March 31, 2010, compared to $560,000 for the comparable prior year period. Net loss on a GAAP basis was $2.334 million for the nine months ended March 31, 2010, compared to a net loss of $4.223 million for the nine months ended March 31, 2009, an improvement of $1.889 million. Voxware's financial statements for the quarter ended March 31, 2010, can be found in its Form 10-Q filed with the Securities and Exchange Commission on May 17, 2010.

“During our third fiscal quarter, we saw revenue remain steady compared to our second quarter of fiscal 2010,” said Scott Yetter, Voxware CEO. “As we have previously stated, we have taken steps to ensure that expenses excluding non-cash stock-based compensation will be more closely aligned with expected revenue during the remainder of fiscal 2010. Our third quarter results are in line with where we expected to be at this point of our fiscal year. Furthermore, our cash position remains strong at $3.4 million as we move into the remainder of the year.

“Large enterprises continue to seriously evaluate Voxware’s software, and we are confident that cost containment projects such as implementing voice in distribution centers will be among the first to be funded as the economic climate improves.”

Net loss on a non-GAAP basis was $229,000 and $1.249 million, respectively, for the three and nine months ended March 31, 2010. The difference between the GAAP and non-GAAP net loss is attributable to non-cash stock-based compensation, which was $362,000 and $1.085 million, respectively for the three and nine months ended March 31, 2010. A reconciliation of GAAP measures with non-GAAP measures can be found at the end of this release.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,501.65 -12.72 -0.08%
S&P 500 1,875.39 -4.16 -0.22%
NASDAQ 4,126.9670 -34.4910 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs