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Park City Group Reports Record Second Quarter Fiscal 2013 Results

Record in Quarterly and Year-To-Date Subscription Revenue

Record Free Cash Flow Increases 43% Quarterly and 141% Year-To-Date

Highlights for the fiscal second quarter and fiscal year-to-date results ended December 31, 2013 included:
  • Record quarterly subscription revenue of $2.0 million, a 16% increase year over year
  • Record year-to-date subscription revenue of $3.9 million, a 14% increase year over year
  • Record year-to-date total revenue of $5.4 million, a 4% increase year over year
  • Record quarterly free cash flow increased 43% to $591,000
  • Record year-to-date free cash flow increased 141% to $813,000
  • Quarterly non-GAAP net income increased to $352,000, a 35% increase year over year
  • Record year-to-date non-GAAP net income increased to $918,000, a 119% increase year over year
  • GAAP quarterly net loss of ($64,000), or ($0.01) per share; versus a net loss of ($176,000), or ($0.02) per share during prior year
  • GAAP year-to-date net income of $141,000, or $0.01 per share; versus a net loss of ($456,000), or ($0.04) per share during the prior year
  • Net debt decreased 42% to $1.3 million, versus $2.2 million at the same time last year.

PARK CITY, Utah, Feb. 14, 2013 (GLOBE NEWSWIRE) -- Park City Group (NYSE MKT:PCYG), a Software-as-a-Service (SaaS) provider of unique supply chain solutions for retailers and their suppliers, today announced record results for its fiscal second quarter ended December 31, 2012.

"We posted a number of financial records this quarter and made progress in achieving our strategic goals. We had wins selling additional supply chain management services to existing customers, which is a validation for the value of our end-to-end supply chain solutions. Combined with the addition and implementation of a number of the large retailers, both inside the grocery vertical, as well as in new retail verticals, we are confident that our top line will continue to accelerate in the coming quarters. The scale of these retailers, all of which are among the largest in the world, is an order of magnitude greater than most of our existing customers and should provide for accelerated growth as we move through the phases of implementation. Finally, our food and drug safety initiative with ReposiTrak, Inc. continues to gain traction and the process of onboarding customers is accelerating," said Randall K. Fields, Park City Group's Chairman and CEO.

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