Jacada Ltd. (Nasdaq: JCDA), a leading provider of customer experience management and process optimization solutions, today reported financial results for the third quarter ending September 30, 2010.
Third Quarter 2010 Highlights
- Third quarter revenues were $5.0 million, representing a 29% increase over third quarter 2009 revenues and an 11% increase over second quarter 2010 revenues
- A net loss of $1.5 million was generated during the quarter as compared to net losses of $2.0 million during the 2009 third quarter and $1.7 million during the 2010 second quarter
- Bookings during the 2010 third quarter were $4.3 million as compared to $3.8 million during the 2009 third quarter and $2.6 million during the 2010 second quarter
“Our total revenues are up 32% for the nine months ended September 30, 2010 as compared to the first nine months of 2009,” commented Tom Clear, chief executive officer of Jacada. “The increase was driven by bookings from existing customers and from improved services execution. Overall margins improved both in the current quarter and year to date periods in relation to the 2009 periods. While the business case for our solutions continues to be compelling, our sales cycles, in the current economic environment, continue to be long. The recently implemented cost reductions, which were announced in conjunction with our 2010 second quarter results, are designed to better align costs with our current business levels and are beginning to help minimize the use of our cash.”
Financial ResultsFor the third quarter of 2010, total revenues were $5.0 million compared to $3.9 million in the third quarter of 2009, representing an increase of 29%. Software revenues for the 2010 third quarter were $455K compared to $55K during the 2009 third quarter. Services revenues were $3.9 million in the 2010 third quarter and $3.3 million in the 2009 third quarter. Maintenance revenues were $651K and $492K in the 2010 and 2009 third quarters, respectively.