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Bitstream's CEO Discusses Q4 2010 Results - Earnings Call Transcript

Stocks in this article: BITS

Bitstream (BITS)

Q4 2010 Earnings Call

March 21, 2011 4:30 pm ET

Executives

James Dore - Chief Financial Officer, Principal Accounting Officer and Vice President

Anna Chagnon - Chief Executive Officer, President, Secretary, Treasurer, General Counsel and Director

Analysts

Jack R. Ripsteen

Ken Lang

Presentation

Operator

Good day, ladies and gentlemen, and welcome to your earnings release call. [Operator Instructions] And now I would like to introduce your host for today, Anna Chagnon. Anna, please go ahead.

Anna Chagnon

Hello, and welcome to Bitstream Inc.’s Fourth Quarter 2010 Conference Call. I am Anna Chagnon, President and Chief Executive Officer of Bitstream.

James Dore

And I am Jim Dore, Bitstream's Vice President and Chief Financial Officer. We will begin this conference call with highlights for the quarter, followed by a question-and-answer session.

During this conference call, we may make forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results of operations may differ materially from those projected or suggested in the forward-looking statements due to certain risks and uncertainties including, without limitation, market acceptance of the company's products, competition and the timely introduction of new products. Any forward-looking statements made during this conference call represent the company's judgment as of today, and we caution listeners not to place undue reliance on such statements.

A short time ago, we reported our results for the fourth quarter of 2010 with the following financial highlights. Revenue increased $940,000 or 17% to $6,519,000 for the three months ended December 31, 2010, as compared to total revenue of $5,579,000 for the three months ended December 31, 2009, and by $537,000 or 9% sequentially as compared to $5,982,000 for the three months ended September 30, 2010. Revenue for the year ended December 31, 2010, increased $1,655,000 or 8% versus 2009. Revenue for the fourth quarter of 2010 was our highest quarterly revenue amount since we went public in 1996, and revenue increased across all of our product lines as compared to the fourth quarter of 2009.

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