This Day On The Street
Continue to site
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

BroadVision Announces First Quarter 2013 Results

REDWOOD CITY, Calif., April 24, 2013 (GLOBE NEWSWIRE) -- BroadVision, Inc. (Nasdaq:BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its first quarter ended March 31, 2013. Revenues for the first quarter were $3.8 million, compared with revenues of $4.1 million for the fourth quarter ended December 31, 2012 and $3.8 million for the comparable quarter of 2012.

License revenue for the first quarter of 2013 was $1.6 million, compared with $1.3 million for the prior quarter and $1.4 million for the comparable quarter of 2012. The majority of the first quarter license and subscription revenue was generated from the company's BroadVision® Business Agility Suite™, Commerce Agility Suite™, QuickSilver™, and Clearvale® solutions. Revenue during the quarter was generated from sales to both new and existing customers such as Aeroxchange Ltd., Gruppo Reti, National Association for Outdoor Sports Centres (UCPA), NHS England, OpenKnowledge srl and several other brand-name global customers.

In the first quarter of 2013, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles ("GAAP") basis of $2.1 million, or $0.46 per basic and diluted share, as compared with GAAP net loss of $1.1 million, or $0.25 per basic and diluted share, for the fourth quarter of 2012 and GAAP net loss of $1.3 million, or $0.29 per basic and diluted share, for the comparable quarter of 2012.

As of March 31, 2013 the Company had $51.4 million of cash and cash equivalents and short-term investments, compared to a combined balance of $52.3 million as of December 31, 2012 and $55.3 million as of March 31, 2012.

"Although Q1 is a seasonally slower quarter, as reflected in the 10 percent revenue decline compared to Q4, we achieved a number of important milestones during the quarter, especially in the business development front," said Dr. Pehong Chen, President and CEO, BroadVision. "Continuing our two-pronged go-to-market strategy, we made very good progress in developing new channel partners across the globe via our Clearvale PaasPort program and on driving adoption into new industry segments such as industrials, financial services and other knowledge, interaction and service intensive sectors. As social business and cloud computing reach the mainstream, we believe Clearvale is very well positioned to dramatically change how people and businesses collaborate."

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 17,709.80 -36.18 -0.20%
S&P 500 2,108.96 +0.33 0.02%
NASDAQ 5,140.5620 +11.7770 0.23%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs