BURLINGTON, Mass., Feb. 14, 2013 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (Nasdaq:BLIN), developer of the award-winning iAPPS Web Engagement Management platform and related interactive technology solutions, today announced financial results for its first quarter ended December 31, 2012.
First Quarter 2013 Highlights:
- Revenue in the first quarter of 2013 was $6.2 million, compared to revenue of $6.5 million in the first quarter of 2012.
- Subscription and perpetual license revenue increased 33% to $787 thousand in the first quarter, compared to $593 thousand in the first quarter of 2012.
- Recurring revenue increased 20% in the first quarter to $1.2 million, compared to $1.0 million in the first quarter of 2012.
- iAPPS revenue increased 17% in the first quarter to $4.2 million, compared to $3.6 million in the first quarter of 2012.
- iAPPS revenue as a percentage of total revenue increased to 69% in the first quarter compared to 55% in the first quarter of 2012.
- Total gross margin was 52% in the first quarter compared to 53% in the first quarter of 2012.
- Adjusted EBITDA (Earnings before interest, taxes, depreciation and amortization and stock-based compensation) was $50 thousand compared to $428 thousand in the first quarter of 2012.
- Cash generated from operations increased $291 thousand, or 306%, to $386 thousand in the first quarter compared to $95 thousand in the first quarter of 2012.
Fiscal 2013 OutlookBridgeline Digital expects fiscal 2013 revenue will be in the range of $27 million to $28 million. Fiscal 2013 iAPPS related revenue is expected to be approximately $21 million, up from $16.5 million in fiscal 2012. This revenue projection also includes a projected reduction of non-iAPPS related legacy revenue of approximately $3.5 million.
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