Jacada Ltd. (Nasdaq: JCDA), a leading provider of customer experience management and process optimization solutions, today reported financial results for the fourth quarter and year ended December 31, 2011.
Fourth Quarter Highlights
- Released a new version of our leading product, Jacada Workspace version 6.0, which includes an innovative, new User Interface, Dynamic Views.
- Executed an agreement with a new customer in the healthcare industry for the purchase of Jacada’s Workspace suite of products.
- Fourth quarter revenues were $2.7 million with a net loss of $2.0 million
- Annual revenues were $12.4 million with a net loss of $6.6 million
- Cash and Cash Equivalents at the end of 2011 were $14.1 million compared to $18.5 million at the end of 2010. As result of better expense control and selective, targeted investment in areas such as sales and marketing and research and development, the company has decreased its use of cash in operating activities.
“Today’s call centers need to reflect new marketing promotions, product discounts, and support information on the agent desktop in near real-time,” said Gideon Hollander, co-chief executive officer of Jacada. “Jacada WorkSpace 6.0, with Dynamic Views represents a significant advancement for our customer experience optimization solution. Now call center leaders can use this highly innovative user interface (UI) delivery model own and control UI delivery, define call flow processes, and handle UI changes with ease, delivering the optimal agent desktop experience.”
“Total revenues remained consistent between the fourth quarter of 2011 and 2010 at $2.7 million,” commented Caroline Cronin, Chief Financial Officer. “However, with the reduction of operating expenses year over year, we decreased our net loss to $2.0 million in the fourth quarter of 2011 from $2.5 million in the fourth quarter of 2010, excluding the $3.1 million goodwill impairment charge. In addition, while revenues were down for the full year 2011 as compared to 2010, again, as a result of continued cost savings, we were able to reduce our net loss to $6.6 million in 2011 from $7.3 million in 2010, excluding the $3.1 million goodwill impairment charge and $200,000 restructuring charge.”