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Jacada Reports Third Quarter 2011 Results

Stocks in this article: JCDA

Jacada Ltd. (Nasdaq: JCDA), a leading provider of customer experience management and process optimization solutions, today reported financial results for the third quarter ended September 30, 2011.

Third Quarter Highlights

  • Executed a material multi-year service and solution support agreement with Kabel Deutschland, Germany’s largest cable operator
  • Executed an agreement for the development of key integration components that allow Blue Cross Blue Shield of Massachusetts to leverage their existing investments in future strategic initiatives for an integrated provider management system
  • Introduced the latest version of Jacada Interface Server (JIS) with updated browser support and extensions to the Jacada knowledge base
  • Third quarter revenues were $3.0 million with a net loss of $1.7 million

“We were pleased to extend our relationship with Kabel Deutschland as we continue to provide ongoing professional services for the development of future releases of the company’s unified desktop,” commented Gideon Hollander, co-chief executive officer of Jacada. “This quarter, we also began the development of key integration components for Blue Cross Blue Shield of Massachusetts’ integrated provider management system. This system will allow their agents to more efficiently service healthcare providers by providing access to more organized information.”

“While these agreements extended our services engagements, there were limited software deliveries during the third quarter, reducing our software revenue to $42,000 from $813,000 in the previous quarter,” commented Caroline Cronin, Chief Financial Officer. “While total expenses remained consistent between the second and third quarters of 2011, this reduction in software revenue, which typically carries a higher margin, impacted our net income, increasing our net loss to $1.7 million in the third quarter from $1.1 million in the second quarter.”

Financial Results

For the third quarter of 2011, total revenues were $3.0 million compared to $5.0 million in the third quarter of 2010. Software revenues for the 2011 third quarter were $42,000 compared to $455,000 during the 2010 third quarter. Services revenues were $2.2 million and $3.9 million in the third quarter of 2011 and 2010, respectively. Maintenance revenues improved to $735,000 in the third quarter of 2011 from $651,000 in the 2010 third quarter.

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