Selectica, Inc. (NASDAQ: SLTC), provider of deal management solutions, including sales configuration and contract lifecycle management solutions, today announced unaudited financial results for its fourth quarter and fiscal year ended March 31, 2011.
- Generated over $500,000 in positive cashflow in the fourth quarter and ended the year with over $17 million in cash
- Decreased operating expenses $3.4M year over year
- Continued to invest over 20% of total revenue in Research and Development, and over 30% of total revenue in Sales and Marketing in FY 2011
- Significantly increased engineering capacity with 33 additional offshore engineers
- Improved gross margin by 3.5% year over year
“We’re seeing an increase in demand for our SaaS-based contract lifecycle management solutions, particularly on the sell-side,” says Jason Stern, CEO and President of Selectica. “Reflecting on the year, I’m especially proud of the company’s achievements in improving our financials and becoming a sustainable business, streamlining our internal systems, and making long-term investments that have positioned us well for the future.”
Net loss for the fourth quarter of fiscal 2011 was $353,000, or $(0.12) per share, compared to a net loss of $54,000, or $(0.02) per share, in the third quarter of fiscal 2011 and net income of $205,000, or $0.07 per share, in the fourth quarter of fiscal 2010.Revenue for the fourth quarter of fiscal 2011 was $3.7 million compared to $3.9 million for the third quarter of fiscal 2011 and $3.8 million for the fourth quarter of fiscal 2010. Revenue split was 26% license and subscription revenue, 43% maintenance and support revenue, and 31% professional services and other revenue. For the full year fiscal 2011, Selectica reported revenue of $14.5 million, compared to $15.2 million for the full year fiscal 2010. Net loss for the full year fiscal 2011 was $1.5 million, or $(0.53) per share, compared to a net loss of $4.6 million, or $(1.66) per share for the full year fiscal 2010.
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