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Bridgeline Digital Reports Financial Results For The First Quarter Of Fiscal 2011

Stocks in this article: BLIN

WOBURN, Mass., Feb. 14, 2011 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (Nasdaq:BLIN), developer of an award winning web engagement management software suite and award-winning interactive technology solutions, today announced financial results for its first quarter of fiscal 2011 (quarter ended December 31, 2010).

Highlights from Q1 Fiscal Year 2011 include:

  • In Q1 2011 revenue increased 19% to $6.5 million for the quarter ended December 31, 2010 when compared to $5.5 million for the quarter ended December 31, 2009
  • In Q1 2011 the cumulative total number of iAPPS Licenses sold increased 132% to a total of 274 at December 31, 2010 when compared to a cumulative total of 118 iAPPS licenses sold at December 31, 2009
  • In Q1 2011 revenue from SaaS and perpetual licenses increased 40% to $519 thousand in the quarter ended December 31, 2010 when compared to $372 thousand for the quarter ended December 31, 2009
  • In Q1 2011 Adjusted EBITDA (Earnings before interest, taxes, depreciation and amortization and stock-based compensation) was $485 thousand compared to $688 thousand for the quarter ended December 31, 2009
  • In Q1 2011 non-GAAP Net Income was $167 thousand compared to $416 thousand for the quarter ended December 31, 2009

"We had a very busy first quarter as we continued to operationally integrate the e.Magination acquisition, record new bookings including some prominent iAPPS customers, and enhance our executive management team," said Bridgeline Digital CEO, Thomas Massie. "As we move into the balance of fiscal 2011, demand for iAPPS looks very strong and we believe we will have a breakout year."

Bridgeline Digital expects annual revenue for Fiscal 2011 in the range of $26.5 million to $28 million. In addition, the Company expects to generate positive non-GAAP net income and positive Adjusted EBITDA during the remainder of Fiscal 2011. 

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