Subscription and Perpetual License Revenue Increased 33% Year over Year
Recurring Revenue Increased 10% Year over Year
BURLINGTON, Mass., Aug. 14, 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 third quarter ended June 30, 2013.Third Quarter 2013 Highlights:
- Revenue in the third quarter of 2013 was $5.6 million, compared to revenue of $6.4 million in the third quarter of 2012. Revenue from legacy non-iAPPS related customers declined 44% or $1M. Revenue from iAPPS related customers increased 4%.
- Subscription and perpetual license revenue increased 33% to $915 thousand in the third quarter, compared to $686 thousand in the third quarter of 2012.
- Recurring revenue increased 10% in the third quarter to $1.2 million, compared to $1.1 million in the third quarter of 2012.
- iAPPS revenue as a percentage of total revenue increased to 78% in the third quarter compared to 66% in the third quarter of 2012.
- In May, iAPPS 5.0 was released. The latest version of iAPPS boasts a new cross-channel interface; cutting edge mobile-friendly editing and on-the-go authoring; technology integration from industry leading partners; and an overall enhanced user experience.
- In the third quarter of 2013 Bridgeline reduced its operating expenses by approximately $250,000 per quarter or $1,000,000 annualized, while increasing the size of its national sales force by 40%.
- Revenue in the first nine months of 2013 was $17.8 million, compared to revenue of $19.6 million in the first nine months of 2012.
- Subscription and perpetual license revenue increased 42% to $2.7 million in the first nine months of 2013, compared to $1.9 million in the first nine months of 2013.
- Recurring revenue increased 16% in the first nine months to $3.6 million, compared to $3.1 million in the first nine months of 2012.
- 174 iAPPS enterprise licenses and 2,160 iAPPS ds licenses were sold in the first nine months of 2013
- Deferred revenue increased 123% in the first nine months of 2013 to $2.5 million, compared to $1.1 million at September 30, 2012.
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