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Bridgeline Digital Reports Financial Results For The Third Quarter Of Fiscal 2012

Stocks in this article: BLIN

Record iAPPS Licenses Sold in Q3 2012

iAPPS Revenue Increased 35% Year over Year

Recurring Revenue Increased 18% Year over Year

BURLINGTON, Mass., Aug. 14, 2012 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (Nasdaq:BLIN), developer of the award-winning iAPPS web engagement platform and related interactive solutions, today announced financial results for its third quarter and nine month period ended June 30, 2012.

Third Quarter Highlights:

  • Revenue in the third quarter of 2012 was $6.4 million, compared to revenue of $6.5 million in the third quarter of 2011.
  • iAPPS related revenue increased 35% to $4.2 million, compared to $3.1 million in the third quarter of 2011.
  • Recurring revenue increased 18% to $1.0 million, compared to $880 thousand in the third quarter of 2011.
  • A record 158 iAPPS licenses were sold during the third quarter, a 250% increase compared to the prior year. As of June 30, 2012 there have been a total of 659 iAPPS licenses sold.
  • Subscription and perpetual license revenue increased 27% to $686 thousand compared to $540 thousand in the third quarter of 2011.
  • Total gross profit margin increased to 56% compared to 51% in the third quarter of 2011.
  • Adjusted EBITDA (Earnings before interest, taxes, depreciation and amortization and stock-based compensation) increased 25% to $429 thousand compared to $342 thousand in the third quarter of 2011.
  • Non-GAAP net income was $8 thousand compared to net income of $37 thousand in the third quarter of 2011.

First Nine Months Highlights:

  • Revenue in the first nine months of 2012 was $19.6 million, compared to revenue of $19.7 million in the first nine months of 2011.
  • iAPPS related revenue increased 40% to $12.0 million, compared to $8.7 million in the first nine months of 2011.
  • Recurring revenue increased 24% to $3.1 million, compared to $2.5 million in the first nine months of 2011.
  • A record 231 iAPPS licenses were sold during the first nine months of 2012.
  • Adjusted EBITDA increased 27% to $1.4 million compared to $1.1 million in the first nine months of 2011.
  • Non-GAAP net income was $202 thousand compared to $137 thousand in the first nine months of 2011.

Recent Developments:

On June 5, 2012 we announced our strategic alliance with UPS Logistics to offer B2B and B2C eCommerce web stores with an end-to-end offering comprised of our iAPPS eCommerce solution and UPS logistics and fulfillment services.

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