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Retalix Announces Third Quarter 2010 Results

RA'ANANA, Israel, Nov. 18, 2010 (GLOBE NEWSWIRE) -- Retalix ® Ltd. (Nasdaq:RTLX), a leading provider of Software and Services for retailers and distributors, announced today results for the third quarter ended September 30, 2010. Summarized financial highlights for the three months ended September 30, 2010:

  • Total Revenues were $52.9 million, compared to $50.1 million in the third quarter of 2009.  
  • Adjusted Income from Operations (Non-GAAP)* was $5.3 million, compared to $4.9 million in the third quarter of 2009.  
  • Income from Operations (GAAP) was $3.4 million, compared to $3.5 million in the third quarter of 2009.   
  • Financial Income was $2.7 million compared to a financial income of $1.5 million in the third quarter of 2009. Included in the financial income is higher interest income in 2010, the impact of currency fluctuations on the Company's non-dollar assets and the value of the Company's forward currency transactions.  
  • Adjusted Net Income (Non-GAAP)* was $6.5 million, or $0.27 per diluted share, compared to $5.0 million, or $0.24 per diluted share, in the third quarter of 2009. The per share calculation includes an increase in the weighted diluted shares outstanding to 24.2 million for the quarter versus 20.4 million shares in the third quarter of 2009 reflecting a private placement completed in November 2009.  
  • GAAP Net Income was $4.7 million, or $0.19 per diluted share, versus a GAAP Net Income of $4.2 million, or $0.20 per diluted share, in the third quarter of 2009. The per share figures again reflect the increase in shares outstanding mentioned above.   
  • Cash Flow from Operating Activities generated $13.3 million during the third quarter of 2010, including $7.5 million related to a tax refund.  
  • Balance Sheet grew to about $120 million in cash and cash equivalents, deposits and marketable securities with negligible debt as of September 30, 2010.

Shuky Sheffer, Chief Executive Officer of Retalix, said, "We again achieved growth in total revenues and maintained our level of profitability while continuing to build our growth engines. We are winning new clients and successfully delivering programs to our customers while also focusing on building our demand-driven products for the store platform and supply chain. We are rolling out new unique service offerings designed to leverage our domain expertise and provide distinct advantages to our customers. Last week we hosted our largest and most successful users' conference in the history of Retalix. We shared with our customers, partners and leading industry analysts our view of the markets and our strategy for the future and received very positive feedback about our direction."

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