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Bridgeline Digital Reports Financial Results For The Fourth Quarter And Year Ended September 30, 2010

WOBURN, Mass., Dec. 29, 2010 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (Nasdaq:BLIN), a developer of an award winning web engagement management software suite and award-winning interactive technology solutions, today announced financial results for its fourth quarter and year ended September 30, 2010.

Highlights from Q410 and from Fiscal 2010 include:

  • In Q410 revenue increased 29% to $6.9 million for the quarter ended September 30, 2010 when compared to $5.3 million for the quarter ending September 30, 2009
  • In Q410 including onetime period expenses of $305 thousand, Adjusted EBITDA (Earnings before interest, taxes, depreciation and amortization and stock-based compensation) was $45 thousand
  • In fiscal 2010 revenue was $23.6 million compared with $23.9 million for the same period one year ago
  • In fiscal 2010 the number of iAPPS Licenses sold increased 145% to a total of 245 at September 30, 2010 when compared to a total of 100 iAPPS licenses sold at September 30, 2009
  • In fiscal 2010 revenue from SaaS and Perpetual licenses increased 24% to $1.8 million in the fiscal year ending September 30, 2010 when compared to $1.4 million for the year ended September 30, 2009
  • In fiscal 2010 $1.5 million of cash was generated from operating activities
  • In fiscal 2010 not including onetime expenses of $522 thousand, non-GAAP operating income was $1.2 million
  • In fiscal 2010 including onetime period expenses of $522 thousand, Adjusted EBITDA (Earnings before interest, taxes, depreciation and amortization and stock compensation) was $1.9 million
  • iAPPS Commerce was launched in November of 2009 and iAPPS Marketier was launched in May of 2010
  • iAPPS Content Manager was the winner of the 2010 CODiE award for the Best Content Management Solution globally
  • Editors of KM Magazine select iAPPS as the trend setting product of 2010
  • In 2010 B2B Interactive selects Bridgeline Digital as one of the top Interactive Technology companies in America
  • Bridgeline acquired selected assets of TMX Interactive in May 2010, expanding its presence into the Philadelphia marketplace
  • Bridgeline acquired selected assets of eMagination in July 2010, expanding its presence into the Baltimore, Washington DC, and the Federal Government marketplaces.

Results of Operations for the Three Months Ended September 30, 2010, Compared to September 30, 2009

For the three months ended September 30, 2010, our revenue increased 29% to $6.9 million from $5.3 million for the same period of 2009. Gross profit was $3.4 million compared with $3.1 million for the same period of 2009, an increase of 11%. Gross profit margins were 49.3% compared with 57.7% for the same period of 2009. The decrease in gross margin is primarily attributable to the impact of lower gross profit margin web application development services revenue from the two recently completed acquisitions.

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