Retalix Announces Second Quarter 2010 Results

RA'ANANA, Israel, Aug. 11, 2010 (GLOBE NEWSWIRE) -- Retalix ^® Ltd. (Nasdaq:RTLX), a leading provider of Software and Services for retailers and distributors, announced today results for the second quarter ended June 30, 2010.

Summarized financial highlights for the three months ended June 30, 2010:

• Total Revenues were $52.0 million, compared to $48.9 million in the second quarter of 2009.
• Income from Operations (GAAP) was $3.4 million, compared to $3.0 million income from operations (GAAP) in the second quarter of 2009.
• Adjusted Income from Operations (Non-GAAP)* was $5.3 million compared to $4.5 million in the second quarter of 2009.
• Financial Expense was $0.8 million due to currency fluctuations and the value of the Company's forward currency transactions compared to a financial income of $3.7 million in the second quarter of 2009 related to currency fluctuations and the value of the forward currency transactions. These amounts impacted the GAAP Net Income and Non-GAAP Net Income, including per share data, presented below.
• GAAP Net Income was $1.6 million, or $0.06 per diluted share, versus a GAAP Net Income of $4.9 million, or $0.24 per diluted share in the second quarter of 2009, including the $3.7 million in financial income referenced above.
• Adjusted Net Income (Non-GAAP)* was $3.3 million, or $0.14 per diluted share, compared to $6.1 million, or $0.30 per diluted share in the second quarter of 2009, including the $3.7 million in financial income referenced above.
• Cash Flow from Operating Activities generated $4 million during the second quarter of 2010.
• Balance Sheet includes approximately $107.5 million in cash and cash equivalents, deposits and marketable securities and negligible debt as of June 30, 2010.

Shuky Sheffer, Chief Executive Officer of Retalix, said, "It was another solid quarter for Retalix that included sequential and year-over-year growth in total revenues and operating income along with continued positive cash flow from operations. We had a good quarter of delivering projects to customers, including our first in Japan. We also won new customer programs including a new customer in Spain. We are continuing to execute on our plan. Our market analysis has confirmed that Retalix is well positioned and our leadership is aligned with the opportunities in the marketplace. We are making progress on developing and enhancing our product offering and services that build on Retalix's strengths and we look forward to continuing to expand upon these efforts."