- For the three months ended June 30, 2012, revenues were $5.4 million compared to $5.0 million for the comparable period in 2011, an increase of 8.9%.
- License revenue for the three months ended June 30, 2012 was $2.3 million compared to $1.9 million for the same period in 2011, an increase of 21.8%.
- Support Services revenue for the three months ended June 30, 2012 was $2.1 million compared to $2.1 million in the same period in 2011, relatively flat.
- Professional Services revenue for the three months ended June 30, 2012 was $1.0 million compared to $1.0 million in the year-ago period, relatively flat.
- Balance sheet remains solid with stockholders’ equity at $15.7 million as of June 30, 2012. The Company completed the second quarter of 2012 with $562,000 in cash, $763,000 in working capital and no long-term debt.
- The release of Cover-All’s Test Studio which facilitates the automated testing of complex insurance transactions, Cover-All’s new Business Intelligence iPad app and full support for the Businessowners Policy (BOP) along with its new Policy Solution, acquisition of BlueWave claims, new Billing solution (in development), and new marketing initiatives is creating significant interest in the property and casualty marketplace and a growing pipeline. These announcements represent milestones in Cover-All’s strategy to expand from a niche product provider to one providing an enterprise suite of products and services.
Cover-All Technologies Inc. (NYSE MKT: COVR), a Delaware corporation (“Cover-All” or the “Company”), today announced financial results for the quarter ended June 30, 2012. Operational Highlights: