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TheStreet Open House

Cover-All Announces Third Quarter 2012 Financial Results

Stocks in this article: COVR

Outlook

Management today reiterated its revised full-year 2012 revenue goal of between $19 million and $23 million. This would represent an increase of between 8% and 30% compared to 2011 revenue level, which was a Cover-All record.

This goal is based on the Company's current business forecast as of the date of this press release and may be subject to risks and uncertainties (see the “Forward-looking Statements” heading below), which could therefore cause actual results to differ from those projected above.

Balance Sheet

Stockholders’ equity was $14.4 million as of September 30, 2012 compared to $16.9 million as of December 31, 2011. Total assets increased to $21.9 million as of September 30, 2012 compared to $20.5 million as of December 31, 2011. As of September 30, 2012, the Company had $1.8 million in cash and cash equivalents, $1.1 million in working capital and $2.0 in long-term debt.

Conference Call Information

Management will conduct a live teleconference to discuss its 2012 third quarter financial results at 4:30 p.m. ET on Wednesday, November 14, 2012. Anyone interested in participating should call 1-877-941-1427 if calling from the United States, or 1-480-629-9664 if dialing internationally.

A replay will be available until November 21, 2012, which can be accessed by dialing 1-877-870-5176 within the United States and 1-858-384-5517 if dialing internationally. Please use passcode 4574372 to access the replay.

In addition, the call will be webcast and will be available on the Company’s website at www.cover-all.com or by visiting http://public.viavid.com/index.php?id=102429.

*Use of Non-GAAP Financial Measures

In evaluating its business, Cover-All considers and uses EBITDA as a supplemental measure of its operating performance. The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. The Company presents EBITDA because it believes it is frequently used by securities analysts, investors and other interested parties as a measure of financial performance.

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