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Jacada Reports Fourth Quarter 2010 Results

Stocks in this article: JCDA

Jacada Ltd. (Nasdaq: JCDA), a leading provider of customer experience management and process optimization solutions, today reported financial results for the fourth quarter and full year period ended December 31, 2010.

Fourth Quarter and Year-end 2010 Results

  • Fourth quarter revenues were $3.4 million. Annual revenues were $17.9 million, representing a 7% increase over 2009 annual revenues.
  • Fourth quarter net loss was $1.6 million. The Company posted a net loss of $6.7 million for the year ended December 31, 2010, as compared to a net loss of $7.0 million during 2009.

“Our total revenues are up 7% for the twelve months ending December 31, 2010 as compared to year end 2009,” commented Tom Clear, chief executive officer of Jacada. “The 2010 revenue growth was driven by a strong backlog exiting 2009, significant business from a new customer early in the year, and continued additional services from existing customers. Fourth quarter bookings, however, were disappointing, impacting fourth quarter revenues and causing a $1.6 million decline in revenues from the third quarter of 2010. Despite the decline in revenues, our loss did not appreciably increase, a result of our cost containment programs instituted in the third quarter of 2010.”

“Throughout 2010, Jacada continued to make progress towards our objectives of improving the fundamentals of our business and better aligning our products and services with the solution needs of our customers,” said Giddeon Hollander, founder and current chairman of the board of directors for Jacada. “While business in the near future will be challenging, I see opportunity for an improved second half of 2011.”

Financial Results

For the fourth quarter of 2010, total revenues were $3.4 million compared to $5.7 million in the fourth quarter of 2009. Software revenues for the 2010 fourth quarter were $169K compared to $678K during the 2009 fourth quarter. Services revenues were $2.6 million in the 2010 fourth quarter and $4.5 million in the 2009 fourth quarter. Maintenance revenues were $621K and $532K in the 2010 and 2009 fourth quarters, respectively.

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