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Selectica Reports Results For Fourth Quarter And Fiscal Year 2011

Stocks in this article: SLTC

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.

Highlights include:

  • 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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