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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Park City Group Reports Fiscal Year 2010 Results

Park City Group, Inc. (OTCBB: PCYG), a Software-as-a-Service provider of unique supply chain solutions for retailers and their suppliers, today announced its financial results for the fiscal year 2010 ended June 30, 2010.

Highlights:

  • Revenue of $10.9 million in FY10, up by 82% from prior year
  • Seventh consecutive quarter of positive non-GAAP EBITDA
  • Non-GAAP EBITDA of $2.6 million in FY10 increased by over 600% from FY09 on a pro forma basis
  • Non-GAAP net income before dividends of $1.4 million for FY10 as compared to net loss of $(1.8 million) for FY09
  • Non-GAAP earnings per share of $0.10 for FY10, up from loss of $(0.26) for FY09
  • Positive operating cash flow in FY10 of $947,000 compares with negative operating cash flow of ($821,000) in FY09

Commenting on the financial results, Randall K. Fields, Park City Group’s Chairman and CEO, said, “We are excited to report our results for fiscal 2010 which has been a breakthrough year for Park City Group. While delivering on our goals and achieving record levels for revenue and non-GAAP EBITDA, net income and earnings per share, we also produced substantial positive operating cash flow at nearly 9% of revenues while only beginning to utilize the scalability of our platform. In addition, we have significantly improved the Company’s financial condition by reducing our debt by 50% and doubling our cash balance at the end of the fiscal year.

“Our achievements reflect the proven ability to grow through successful implementation of internal growth initiatives, integrate acquisitions, and initial scaling of our business to begin maximizing profits and cash flow. With the 2009 transition to a SaaS model which benefits from recurring subscription revenues and with the successful integration of Prescient, our total subscription revenue increased 110% year-over-year, while our retail hubs increased from 12 at the beginning of the fiscal year to 19 on June 30, 2010. Through the first few months of the new fiscal year, we have made further progress in the expansion of our platform to include the first engagement for a “mega” hub contract that has nearly three times the recurring revenue opportunity as a traditional retail hub. Given the strength of our recurring and growing revenue base, fiscal 2010 represents only the beginning for Park City Group, as we have entered into a multi-year period of growth in top line and, now, profits.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG
PCYG $12.49 0.00%
AAPL $129.36 0.00%
FB $79.60 0.00%
GOOG $573.64 0.00%
TSLA $199.56 0.00%

Markets

DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

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