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Bridgeline Digital Announces Financial Results For The Second Quarter And First Six Months Of Fiscal 2013

Stocks in this article: BLIN

BURLINGTON, Mass., May 15, 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 second quarter ended March 31, 2013.

Second Quarter 2013 Highlights:

  • Revenue in the second quarter of 2013 was $6.0 million, compared to revenue of $6.7 million in the second quarter of 2012.  
  • Subscription and perpetual license revenue increased 61% to $1.0 million in the second quarter, compared to $620 thousand in the second quarter of 2012.  
  • Recurring revenue increased 30% in the second quarter to $1.3 million, compared to $1.0 million in the second quarter of 2012.  
  • iAPPS revenue as a percentage of total revenue increased to 78% in the second quarter compared to 64% in the second quarter of 2012.  
  • 52 iAPPS enterprise licenses and 500 iAPPS ds licenses were sold in the second quarter of 2013.  
  • Cash generated from operations increased to $594 thousand in the second quarter of 2013 compared to $55 thousand of cash used in the second quarter of 2012.

First Six Months Highlights:

  • Revenue in the first six months of 2013 was $12.2 million, compared to revenue of $13.2 million in the first six months of 2012.  
  • Subscription and perpetual license revenue increased 50% to $1.8 million in the first six months of 2013, compared to $1.2 million in the first six months of 2013.  
  • Recurring revenue increased 25% in the first six months to $2.5 million, compared to $2.0 million in the first six months of 2012.  
  • 148 iAPPS enterprise licenses and 2,050 iAPPS ds licenses were sold in the first six months of 2013.  
  • Cash generated from operations increased to $980 thousand in the first six months of 2013 compared to $40 thousand in the first six months of 2012.  
  • Deferred revenue increased 173% in the first six months of 2013 to $3.0 million, compared to $1.1 million at September 30, 2012. 

Fiscal 2013 Outlook

Fiscal 2013 iAPPS related revenue is expected to be approximately $19 million to $20 million, up from $16.5 million in fiscal 2012. Bridgeline Digital expects fiscal 2013 revenue will be approximately $25 million to $26 million. This revenue projection also includes a projected reduction of non-iAPPS related legacy revenue of approximately $4 million.

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