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Envivio Reports First Quarter Fiscal 2014 Financial Results

Stocks in this article: ENVI

SOUTH SAN FRANCISCO, Calif., May 30, 2013 (GLOBE NEWSWIRE) -- Envivio (Nasdaq:ENVI), a leading provider of software-based video processing and delivery solutions, today announced financial results for the first quarter of fiscal 2014 ended April 30, 2013.

Financial Highlights

  • Revenue for the first quarter of fiscal 2014 was $7.5 million, compared to $7.7 million in the fourth quarter of fiscal 2013 and $13.4 million in the first quarter of fiscal 2013.  
  • GAAP net loss for the quarter was $4.7 million, or $0.18 per share, compared to GAAP net loss of $4.9 million, or $0.18 per share, in the fourth quarter of fiscal 2013 and GAAP net loss of $2.2 million, or $0.17 per share, in the first quarter of fiscal 2013.  
  • Non-GAAP net loss for the quarter was $4.2 million, or $0.16 per share, compared to non-GAAP net loss of $4.1 million, or $0.15 per share, in the fourth quarter of fiscal 2013 and non-GAAP net loss of $1.5 million, or $0.12 per share, in the first quarter of fiscal 2013. A reconciliation of the difference between these non-GAAP financial measures with the most directly comparable GAAP measures, as well as a description of the items excluded from the non-GAAP measures, is included in the financial statements portion of this press release.

"In the first quarter, customer engagements in North America increased following the changes we made previously in our sales force," said Julien Signès, President and CEO, Envivio. "We are pleased with our key wins this quarter which included tier 1 North American companies in the cable and telecommunications sectors. We remain focused on increasing our engagements with content and service provider customers, via our direct sales force and new channel partners to improve our market presence." 

As of April 30, 2013, Envivio had cash, cash equivalents and short-term investments of $49.9 million.

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