BluePhoenix Solutions (NASDAQ:BPHX), the leader in value-driven legacy modernization, today announced financial results for the fourth quarter of 2011. Revenues for the fourth quarter of 2011 were $9.5 million compared to $10.1 million in the previous quarter, and compared to $12 million in the fourth quarter of 2010.
Net loss on a non-GAAP basis for the fourth quarter of 2011 was $(2.2) million or $(0.35) per diluted share, compared to non-GAAP net income of $0.4 million or $0.06 per diluted share in the previous quarter, and compared to a non-GAAP net loss of $(0.3) million or $(0.06) per diluted share in the fourth quarter of 2010.
On a GAAP basis for the fourth quarter of 2011 the net loss was $(18.4) million or ($2.93) per diluted share, compared to net loss of $(3.2) million or ($0.51) per diluted share in the previous quarter, and compared to net loss of $(28) million or $(4.71) per share for the fourth quarter of 2010.
“In the year 2012, the company will focus on the Legacy Modernization business and prepare this sector to grow substantially in the year 2013 and onward,” commented Shimon Barkama, CEO of BluePhoenix. “We see a solid pipeline in the Legacy Modernization business and plan to invest our efforts in converting these opportunities into firm backlog.”
|Non-GAAP Results (in thousands US$)||Q4/2011**||Q3/2011||Q4/2010|
|Net (Loss) Income||(2,166)||387||(335)|
|Earnings (Loss) per share, diluted*||$ (0.35)||$0.06||$ (0.06)|
|GAAP Results (in thousands US$)||Q4/2011**||Q3/2011||Q4/2010|
|Operating loss||**** (14,510)||(2,710)||*** (27,649)|
|Net loss||**** (18,372)||(3,206)||*** (27,948)|
|Loss per share, diluted*||$ (2.93)||$ (0.51)||$ (4.71)|
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