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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV