- Second quarter EBITDA*, excluding one-times*, was $1.15 million vs. guidance range of $900,000 to $1.1 million
- Second quarter revenue of $6.3 million vs. guidance range of $6.2 to $6.5 million
- Second quarter net loss per share, excluding one-times* was $(0.06)
AUSTIN, Texas, Aug. 14, 2013 (GLOBE NEWSWIRE) -- Asure Software, Inc. (Nasdaq:ASUR), a leading provider of workplace management software, announced results for the second quarter ended June 30, 2013.
Q2 Strategic Highlights
- Executed on our "Land and Expand" customer cross selling strategy for both AsureSpace and AsureForce solutions; Q2 brought expanded contracts with several key customers such as Staples, Federal Reserve, and Moody's Corporation. Asure's "Land & Expand" strategy continues to be successful in increasing customer profitability and retention with innovative, trusted solutions.
- Launched the new release of AsureSpace Workspace Manager 4.5, which brings global customers expanded features for complex meeting types. This new functionality allows our customers to more easily gather booking data and work with complex recurring and guest service requirements.
- Fully deployed AsureForce® GeoPunch™, our time & labor management mobile facial recognition solution. Using GPS technology and facial recognition, this highly differentiated TLM mobile app puts time & attendance and self-service capabilities directly in the hands of employees, literally, via their mobile devices. New customers include Goodwill of South Texas, Permian Regional Hospital and Innvision Shelter Network.
- Revenue for the quarter was $6.3 million compared to $6.0 million in the previous quarter and $4.2 million in the second quarter 2012.
- Non-GAAP revenue* for the quarter was $6.4 million compared to $6.2 million in the previous quarter and $4.2 million in the second quarter 2012.
- Gross margin for the quarter was $4.8 compared to $4.2 in the previous quarter and $3.2 in the same quarter 2012.
- EBITDA* excluding one-time items* for the quarter was approximately $1.15 million compared to $727,000 in the previous quarter and $838,000 in the second quarter of 2012. One-time items* in the quarter were approximately $228,000 down from $320,000 in the previous quarter and down from $427,000 in the second 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 as a percent of total revenue was 78% for the quarter as compared to 79% for the previous quarter and 70% in the second quarter of 2012.
- Cloud SaaS-based revenue for the quarter increased to $3.1 million up $72,000 and 2.4% over the previous quarter and up $163,000, or 8.0% over the second quarter of 2012, excluding PeopleCube.
- Cloud SaaS-based bookings for the quarter decreased by 10% from the previous quarter and increased by 20% from the second quarter of 2012, excluding PeopleCube.
|Q3 13||FY 13|
|Revenue||$6,300 - $6,600||$25,000 - $26,000|
|EBITDA, excluding one-time items||$1,300 - $1,500||$4,800 - $5,500|
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