This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BluePhoenix Solutions Reports Second Quarter 2012 Results

BluePhoenix Solutions (NASDAQ: BPHX), the leader in value-driven legacy modernization, announced financial results for the second quarter of 2012 on September 6 th after the closing bell. Revenue for the second quarter of 2012 was $4.2 million compared to $3.6 million in the previous quarter, a 17.7% increase.

BluePhoenix has been going through a major restructuring effort on gaining control over their balance sheet and positioning the company for growth in their core business of Legacy Modernization. As a result, two noncore businesses which had a negative impact on the companies financials were sold; Liacom in April and Knowledge Management Systems business in June. BluePhoenix has lowered fixed costs significantly by reducing headcount from a peak of 730 employees in January 2010 to only 105 in the core Legacy Modernization business as of today.

Matt Bell, CEO of BluePhoenix said, “We are proud the company increased revenue, is nearly debt free, lowered fixed costs, is building cash and is in control of our balance sheet for the first time in many years. Our projected expenses for 2012 will be $10.8 million and we are forecasting to breakeven. We think we can continue to reduce expenses by another 10% reinvesting that money in sales and marketing to set ourselves up for significant growth in 2013.”

About BluePhoenix Solutions

BluePhoenix Solutions Ltd. (NASDAQ: BPHX) is the leading provider of legacy IT modernization conversion solutions. The BluePhoenix portfolio includes a comprehensive suite of tools and services from global IT asset assessment and impact analysis to automated database and application migration. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to ascertain which assets should be migrated, redeveloped, or wrapped for reuse as services or business processes, to protect and increase the value of their business applications and legacy systems with minimized risk and downtime.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs