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!

Versant Announces Quarterly Net Income Of $0.9 Million

REDWOOD CITY, Calif., Dec. 1, 2010 (GLOBE NEWSWIRE) -- Versant Corporation (Nasdaq:VSNT), an industry leader in specialized data management, today announced its financial results for its fourth fiscal quarter and fiscal year ended October 31, 2010 and certain other matters.

Results for Fourth Quarter Ended October 31, 2010

For the quarter, Versant reported revenues of $4.4 million compared to $4.1 million for the same quarter last year, representing an increase of approximately 6%. Two customers accounted for 24% of total revenues in the quarter, whereas no customer accounted for more than 10% in the same period last year.

Income from operations for the quarter was $0.9 million compared to $0.6 million in the same period last year. Net income for the quarter was $0.9 million and diluted net income per share was $0.28 compared to net income of $1.6 million and diluted net income per share of $0.45 for the fourth quarter of fiscal 2009. The decrease in net income in the fourth quarter of fiscal 2010 compared to the same quarter in fiscal 2009 was largely the result of an income tax benefit of approximately $1.0 million recorded in the fourth quarter of fiscal 2009, which was not repeated in the fourth quarter of fiscal 2010.

Results for Fiscal Year Ended October 31, 2010

Revenues were approximately $15.8 million for the fiscal year ended October 31, 2010 compared to approximately $18.2 million for fiscal 2009, a decrease of approximately 13%. This decrease was primarily attributable to lower maintenance revenues and, to a lesser extent, to lower license revenues, primarily from the first quarter of fiscal 2010 compared to the same quarter in fiscal 2009. One customer accounted for 12% of total revenues in fiscal 2010.

Income from operations for fiscal 2010 was $2.0 million compared to $4.0 million for fiscal 2009. Net income for fiscal 2010 was $1.7 million, a decrease of 66% from net income of $4.8 million in fiscal 2009, and diluted net income per share for fiscal 2010 was $0.48 compared to diluted net income per share of $1.32 in fiscal 2009.

1 of 4

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