This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Selectica Achieves Positive Cashflow In First Quarter Fiscal 2011

Selectica (NASDAQ: SLTC), a leading provider of contract lifecycle management and sales configuration solutions, today announced financial results for its first quarter ending June 30, 2010.

Highlights in Q1 FY 2011:

  • Generated positive cashflow, ending the quarter with $17.2 million in cash, cash equivalents, and short term securities
  • Reduced operating expenses for the third consecutive quarter
  • Announced Selectica Contract Kiosk, a new employee self-service contract portal built on EMC Documentum xCP
  • Signed a new license transaction with a strategic channel partner

“I am pleased with many facets of our performance this quarter, including our ability to add marquee customers and continue to execute on our product vision with innovative new solutions,” said Jason Stern, President and Chief Operating Officer of Selectica. “With the caliber of the people we’ve been able to add to the team and our continued ability to make our customers successful, I am optimistic in Selectica’s ability to execute to its plan.”

Revenue for the first quarter of fiscal 2011 was $3.7 million, compared to $3.8 million for the fourth quarter of fiscal 2010, and $3.2 million for the first quarter of fiscal 2010. New license revenue for the quarter was $836,000, up slightly from last quarter from $827,000, and up 93% from first quarter of fiscal 2010. Revenue split was 31% license and subscription revenue, 42% maintenance and support revenue, and 27% professional services and other revenue. By product, 64% or $2.3 million was related to contract lifecycle management software, and 36% or $1.4 million was related to sales configuration software.

Cash, cash equivalents, and short-term investments were $17.2 million on June 30, 2010. Selectica generated net cash of $71,000 in the quarter.

Net loss for the first quarter of fiscal 2011 was $447,000, or $(0.16) per share, compared to a profit of $205,000, or $0.07 per share, in the fourth quarter of fiscal 2010 and a net loss of $3.0 million, or $(1.09) per share, in the first quarter of fiscal 2010.

1 of 3

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.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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