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Park City Group Reports Fiscal Year 2011 Second Quarter Results

SaaS Subscription Revenue Increased 9%, Named Supplier Connection Pipeline Increased to 510
  • 2Q11 subscription revenue increased 9% year over year to $1.6 million
  • 2Q11 GAAP EPS: ($0.00) versus 2Q10 GAAP EPS: ($0.01)
  • 2Q11 Non-GAAP EPS: $0.03 versus 2Q10 Non-GAAP EPS: $0.01
  • 2Q11 adjusted EBITDA: $687,000 versus 2Q10 adjusted EBITDA: $567,000
  • Named supplier connection pipeline increased to 510 connections versus approximately 300 at September 30, 2010
  • Retailer hubs increased to 28, versus 26 at September 30, 2010, and 23 at June 30, 2010
  • 1H11 free cash flow increased 48% year over year to $419,000

PARK CITY, Utah, Feb. 8, 2011 (GLOBE NEWSWIRE) -- Park City Group (NYSE Amex:PCYG), a Software-as-a-Service (SaaS) provider of unique supply chain solutions for retailers and their suppliers, today reported a GAAP net loss applicable to common shareholders of $22,420, or ($0.00) per diluted share, on revenue of $2.7 million for the second fiscal quarter ended Dec. 31, 2010. This compares to a loss applicable to common shareholders of $150,757, or ($0.01) per diluted share, on revenue of $2.5 million for the second fiscal quarter ended Dec. 31, 2009. Excluding certain non-cash and other expenses, non-GAAP net income applicable to common shareholders for the second fiscal quarter was $336,000, or $0.03 per diluted share compared to $138,000 or $0.01 per diluted share for the prior year.

For the six month period ended Dec. 31, 2010, the Company reported a GAAP net loss applicable to common shareholders of $531,608, or ($0.05), per diluted share, on revenue of $5.3 million compared to a net loss of $63,854, or ($0.01), per diluted share on revenue of $5.2 million for the same period ended Dec. 31, 2009. Excluding certain non-cash and other expenses, non-GAAP net income applicable to common shareholders for the six month period ended Dec. 31, 2010 was $533,000, or $0.05 per diluted share compared to $440,000 or $0.04 per diluted share for the prior year.

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