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Selectica Reports Results For First Quarter Fiscal 2012

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 first quarter ended June 30, 2011.

Highlights include:

  • Delivered a gross margin of 66%, consistent with a gross margin average of 64.7% over the past 12 quarters
  • Continued significant investment in both Research and Development and Sales and Marketing
  • Maintained a strong cash position of $16.8 million with increased investment in the SaaS business
  • Doubled attendance at Fusion 2011, Selectica’s annual user conference
  • Recognition as a Leader for sell-side Contract Management by a leading independent research firm
  • Launched Selectica CLM Essentials, a rapidly deployed, turnkey contract management solution
  • Released Selectica Contract Lifecycle Management Version 5.0 in May 2011

“Selectica has been recognized as a leader in sell-side contract management on the heels of our most successful user conference in recent memory,” said Jason Stern, President and CEO of Selectica. “We continue to see a trend toward our SaaS solutions, with the majority of new customers this quarter choosing a SaaS offering for their contract lifecycle management.”

This quarter, Selectica added to its customer base with new wins in the healthcare space, as well as with financial services and a major retailer.

Net loss for the first quarter of fiscal 2012 was $596,000, or $(0.21) per share, compared to a net loss of $353,000, or $(0.12) per share, in the fourth quarter of fiscal 2011 and a net loss of $447,000 or $(0.16) per share, in the first quarter of fiscal 2011.

Revenue for the first quarter of fiscal 2012 was $3.8 million compared to $3.7 million for both the fourth quarter of fiscal 2011 and for the first quarter of fiscal 2011, respectively. Revenue split was 14% license and subscription revenue, 45% maintenance and support revenue, and 41% professional services and other revenue.

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