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BroadVision Announces Fourth Quarter 2013 And Full-Year Results

Stocks in this article: BVSN

REDWOOD CITY, Calif., Jan. 29, 2014 (GLOBE NEWSWIRE) -- BroadVision, Inc. (Nasdaq:BVSN), a leading provider of e-business and engagement management solutions, today reported financial results for its fourth quarter ended December 31, 2013. Revenues for the fourth quarter were $3.7 million, compared with revenues of $4.0 million for the third quarter ended September 30, 2013 and $4.1 million for the comparable quarter of 2012.

License revenue for the fourth quarter of 2013 was $1.4 million, compared with $1.3 million for the prior quarter and $1.3 million for the comparable quarter of 2012. The majority of the fourth quarter license and subscription revenue was generated from the Company's BroadVision® Business Agility Suite™, Commerce Agility Suite™, QuickSilver™, and Clearvale® solutions. Revenue during the quarter was generated from sales to both new and existing customers such as Banque Palatine S.A., Business Networks Europe GmbH, Centre National de l'Expertise Hospitalière (CNEH), Crédit Foncier, Entering New Markets, Global Hotel Alliance, Italiaonline S.r.l., La Poste Group, NHS England, The Talking Village, TerraLink, TII Informatix, Vías y Construcciones, S.A, and several other large multinational customers.

In the fourth quarter of 2013, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles ("GAAP") basis of $1.3 million, or $0.28 per basic and diluted share, as compared with GAAP net loss of $0.8 million, or $0.18 per basic and diluted share, for the third quarter of 2013 and GAAP net loss of $1.1 million, or $0.25 per basic and diluted share, for the comparable quarter of 2012.

Full-year 2013 revenues totaled $15.6 million, with GAAP net loss of $5.4 million, or $1.15 per basic and diluted share, compared to 2012 revenues of $15.1 million and GAAP net loss of $5.1 million, or $1.09 per basic and diluted share.

As of December 31, 2013 the Company had $46.4 million of cash and cash equivalents and short-term investments, compared to a combined balance of $47.7 million as of September 30 2013 and $52.3 million as of December 31 2012.

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