Bridgeline Digital Reports Financial Results For The Fourth Quarter And Year Ended September 30, 2010
Onetime expenses of $522 thousand were recorded in the year ended September 30, 2010 related primarily to acquisition costs and costs from integrating Bridgeline's Cleveland operations into its Chicago operations. Including onetime expense of $522 thousand, loss from operations was ($239) thousand for the year ended September 30, 2010 compared with income from operations of $829 thousand for the same period of 2009. Including onetime expense of $522 thousand, the net loss for the year was ($377) thousand compared with net income of $758 thousand for the same period of 2009. Earnings per diluted share for the year were ($0.03) compared with $0.07 for the same period of the prior year. Not including the one-time expenses of $522 thousand, non-GAAP adjusted net income was $1.2 million and non-GAAP adjusted earnings per diluted share was $0.10 for the year ended September 30, 2010, compared with $1.8 million and $0.16 for the same period of 2009. Including onetime expense of $522 thousand, Adjusted EBITDA was $1.9 million and Adjusted EBITDA per diluted share was $0.17 for the year ended September 30, 2010, compared with $2.9 million and $0.25 for the same period of 2009.
For further information, please refer to our annual report on Form 10-K for the year ended September 30, 2010 as filed with the Securities and Exchange Commission.
Non-GAAP Financial Measures
This press release contains the following non-GAAP financial measures: non-GAAP adjusted net income, non-GAAP adjusted earnings per diluted share, Adjusted EBITDA and Adjusted EBITDA per diluted share.Non-GAAP adjusted net income and non-GAAP adjusted earnings per diluted share are calculated as net income or net income per share on a diluted basis, excluding, where applicable, impairment charges, acquisition and other onetime costs, amortization of intangible assets, stock based compensation and the related tax effects. Adjusted EBITDA and Adjusted EBITDA per diluted share are defined as earnings before interest, taxes, depreciation and amortization and before stock compensation and impairment charges. Bridgeline uses Adjusted EBITDA as a supplemental measure of our performance that is not required by, or presented in accordance with, accounting principles generally accepted in the United States ("GAAP").
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