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Astea Reports Profitable First Quarter 2011 Results

Stocks in this article: ATEA

HORSHAM, Pa., May 12, 2011 /PRNewswire/ -- Astea International Inc. (NASDAQ: ATEA), a global provider of service lifecycle management and mobility solutions, today released financial results for the first quarter of 2011.

For the quarter ended March 31, 2011, Astea reported revenues of $7.0 million which were 49% greater than revenues of $4.7 million for the same period in 2010.  Net income available to shareholders for the quarter was $.6 million or $.16 per share, compared to a net loss of $1.2 million or ($.33) per share for the same period in 2010.  Software license revenues of $2.3 million were 130% higher than revenues of $1.0 million for the same period in 2010.  Service and maintenance revenues of $4.7 million were 27% higher when compared to revenues of $3.7 million for the same period in 2010. 

"We are very happy to report a second consecutive profitable quarter, exemplifying our leadership position in the service management software industry. We successfully signed some very significant deals this quarter. Furthermore, we also launched a number of large deployment expansion projects with existing customers. One of our largest project expansions will eventually be deployed to more than 20 countries. These projects will generate a consistent stream of revenue activity for both additional licenses as well as professional services throughout 2011 and 2012. Because of the increasing demand for professional services, we are actively adding additional resources around the world. In addition, we are leveraging our premier system integration partner ecosystem to support these global projects," stated Zack Bergreen, CEO of Astea International.

Bergreen continued, "Our constant innovation and proven experience in service management are a unique combination in the industry that consistently generates positive results for our customers. It has become evident that Astea is one of the few vendors that can offer a full range of software and services across the entire service management lifecycle. For companies in which service is strategic and mission critical, we provide powerful solutions that seamlessly fit within their existing infrastructure. Our software can grow with them as their service operations grow."

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