- For the full year 2011 revenue was $17.6 million compared to $17.5 million for the full year 2010.
- License revenue was $4.8 million in 2011, an increase of 108.5% from $2.3 million in 2010.
- Support Services revenue, which represents contracted, continuing revenue, was $8.3 million in 2011, an increase of 3.0% from $8.1 million in 2010.
- Professional Services revenue was $4.5 million, a decrease of 36.6% compared to $7.1 million in 2010.
- Earnings before interest, taxes, depreciation and amortization (“EBITDA”*), a non-GAAP metric, was $3.0 million for 2011, or $0.12 per diluted share, compared to $3.1 million, or $0.12 per diluted share, for 2010.
- The Company’s balance sheet remains strong with stockholders’ equity at a record $16.9 million as of December 31, 2011. The Company completed 2011 with $3.3 million in cash, $3.2 million in working capital and no debt.
- The Company released additional jurisdictions for its latest NexGen products which support the rate, quote, issuance, subsequent transactions and statistical reporting of ISO ® lines of business.
- The Company authorized a share buyback of up to 1,000,000 shares of the Company’s common stock, par value $0.01 per share, or approximately 4% of the Company’s outstanding common stock.
- The Company acquired the assets of BlueWave Technology, including its innovative insurance claims solution software, PipelineClaims™, in a cash transaction effective December 30, 2011. The full-year results include approximately $137,000 in expenses related to the acquisition, which were reported in the fourth quarter of 2011.
Cover-All Announces 5th Consecutive Year Of Profitability And Record Revenue
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.