This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

UBIC, Inc. Reports Unaudited Fiscal Year Second Quarter Ended September 30, 2013 Financial Results

TOKYO, Nov. 13, 2013 (GLOBE NEWSWIRE) -- UBIC, Inc. (Nasdaq:UBIC) (TSE:2158) ("UBIC" or "the Company"), a leading provider of Asian-language eDiscovery solutions and services, today announced its unaudited financial results for the fiscal second quarter ended September 30, 2013 (second quarter for year ending March 2014). All figures are prepared in accordance with the generally accepted accounting principles of Japan ("Japanese GAAP").

Second quarter (for year ending March 2014 ) Financial Highlights
  • Net sales were JPY852 million in the fiscal second quarter ended September 30, 2013.
  • Gross profit was JPY281 million in the fiscal second quarter ended September 30, 2013.

"The past quarter marked the continuing evolution of our company into a global market leader in Asian-language e-discovery," UBIC's Chairman and Chief Executive Officer Masahiro Morimoto stated. "Although our top- and bottom-line results fell short of expectations, due to heavy investments in technology and customer acquisition as well as deferrals of sales into future periods, we were able to strengthen our financial and operation positioning in numerous ways. First, we have greatly strengthened our case pipeline by signing with several large conglomerates and expanding our cooperation with many of our key existing accounts. We emphasized not only quantity, but also quality of engagement in this effort to build a robust and stable pipeline by beginning to focus more heavily on targeting key lucrative accounts with large clients that can provide us with stable and substantial reoccurring revenue going forward.

"Second, in the recent quarter, we made great headway in validating our Technology Assisted Review (TAR) services as a cheaper, faster and more efficient solution than traditional review within several of our key clients. In one unprecedented case, our client's internal legal division was recognized for "significant cost reduction in review process" as a direct result of implementing our TAR software. Another client used our TAR solution side-by-side with a manual review solution and compared the results; the internal analysis found that our solution quickly captured a significant amount of data which the original vendor's process missed. These cases have further elevated our reputation as a provider of a cost-cutting, time-saving and accurate e-discovery solution, and have done wonders not only to increase our engagement with our existing customers, but also to pave the way for word-of-mouth introductions to major US law firms and new client leads. As awareness of improving e-discovery technologies broadens, we believe that Asia-based corporations are increasingly relying on solutions like our TAR with predictive coding capabilities, as a means of significantly reducing legal expenses while obtaining faster and more reliable results than traditional manual reviews can provide. We are well positioned to benefit from this growing reliance going forward.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.75 -1.10%
FB $117.53 0.69%
GOOG $693.00 0.29%
TSLA $240.75 -2.80%
YHOO $36.61 0.06%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs