- First quarter EBITDA*, excluding one-times*, was $727,000 vs. guidance range of $400,000 to $600,000
- First quarter revenue of $6.0 million vs. guidance range of $5.7 to $6.0 million
- First quarter net loss per share, excluding one-times* was $(0.15)
AUSTIN, Texas, May 15, 2013 (GLOBE NEWSWIRE) -- Asure Software, Inc. (Nasdaq:ASUR), a leading provider of workplace management software, announced results for the first quarter ended March 31, 2013.
Q1 Strategic Highlights
- Expanded the AsureSpace solution with long-time global customer Proctor & Gamble; the client purchased additional Resource Scheduler software licenses for their global offices that do not currently use the AsureSpace solution. This sale, in addition to recent contract expansions with clients such as Merck (for professional services and videoconferencing integration), demonstrates success with Asure's "Land & Expand" strategy to increase customer profitability and retention with innovative, trusted solutions. Within the AsureForce product line, success with SaaS-based sales in the mid-market continues with the addition of Health Concepts, Hiscox, Inc., and Multiquip, Inc. to the AsureForce customer family.
- Launched new version of the Web site, www.asuresoftware.com to better support Asure Software's growth objectives. The new site improves the user experience and demonstrates a more elevated thought leadership position in the workplace management industry. It also features social media integration, a company blog, integrated access to customer tools and resources, and a much deeper level of industry and product-related information for the AsureForce TLM offerings and AsureSpace workplace management solutions.
- Deployed an integrated enterprise-wide Client Service Portal, which allows complete integration of customers from prior acquisitions, better client access to information, and the ability to cross-sell multiple offerings based on a client's objectives. The portal will help improve client retention and satisfaction through better access to information and resources.
- Revenue for the quarter was $6.0 million compared to $5.9 million in the previous quarter and $4.2 million in the first quarter 2012.
- Non-GAAP revenue* for the quarter was $6.2 million compared to $6.3 million in the previous quarter and $4.2 in the first quarter 2012.
- Gross margin for the quarter was $4.2 compared to $4.3 in the previous quarter and $3.1 in the same quarter 2012.
- EBITDA* excluding one-time items* for the quarter was approximately $727,000 compared to $948,000 in the previous quarter and $777,000 in the first quarter of 2012. One-time items* in the quarter were approximately $320,000 up from $175,000 in the previous quarter and down from $509,000 in the first quarter of 2012, and were related to legal and professional fees, site consolidation related to the acquisition of Meeting Maker and other one-time expenses*.
- Recurring revenue remained steady at 79% as compared to the previous quarter and increased from 74% over the first quarter of 2012.
- Cloud (SaaS-based) revenue for the quarter increased to $3.1 million up 1.41% over the previous quarter and up $75,000, or 3.48% over the first quarter of 2012, excluding PeopleCube.
- Cloud (SaaS-based) bookings for the quarter decreased slightly by 4% from the previous quarter and increased by 16% from the first quarter of 2012, excluding PeopleCube.
|Q2 13||FY 13|
|Revenue||$6,200 - $6,500||$25,000 - $27,000|
|EBITDA, excluding one-time items||$900 - $1,100||$6,000|