Openwave Reports Second Quarter Fiscal 2012 Financial Results
Openwave Systems Inc. (Nasdaq:OPWV), a global software innovator delivering all-Internet Protocol (all-IP) mediation and messaging solutions, today announced that revenues for the second fiscal quarter ended December 31, 2011 were $35.9 million, compared with $52.4 million in the prior quarter ended September 30, 2011 and $39.9 million in the December quarter in the preceding fiscal year. Bookings for the quarter were $20.4 million. The company ended the quarter with $69.7 million in cash and investments.
“As previewed a quarter ago, we undertook a strategic review of our products business and subsequently executed a set of activities, including establishing three business units and improving bookings execution. As a result, we believe our mediation and messaging business units are now optimized for a potential sale,” said Mike Mulica, CEO, Openwave. “We continue to believe in the large opportunity represented by our Intellectual Property initiative, and we are well underway in implementing a strategic plan to unlock the significant inherent value in our patent portfolio.”
On a GAAP basis, net loss for the second fiscal quarter ended December 31, 2011 was $10.4 million or $0.12 per share, compared with a net income of $2.6 million or $0.03 per share, in the prior quarter and net loss of $4.5 million or $0.05 per share, in the December quarter in the preceding year.
On a non-GAAP basis, net loss for the second fiscal quarter ended December 31, 2011 was $5.0 million or $0.06 per share, compared with a net income $9.3 million or $0.11 per share, in the prior quarter and a net loss of $2.7 million, or $0.03 per share, in the December quarter in the preceding year. Non-GAAP net income (loss) excludes restructuring, impairments and certain losses on investments, costs associated with strategic alternatives, amortization of intangibles and stock-based compensation, amounts associated with certain unusual events, discontinued operations, impairment of deferred tax assets and the tax impact of these items.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV