BroadVision Announces Fourth Quarter 2012 And Full-Year Results

REDWOOD CITY, Calif., Jan. 30, 2013 (GLOBE NEWSWIRE) -- BroadVision, Inc. (Nasdaq:BVSN), an innovative provider of online commerce and business social networking solutions, today reported financial results for its fourth quarter ended December 31, 2012. Revenues for the fourth quarter were $4.1 million, compared with revenues of $3.6 million for the third quarter ended September 30, 2012 and $4.2 million for the comparable quarter of 2011.

License revenue for the fourth quarter of 2012 was $1.3 million, compared with $1.3 million for the prior quarter and $1.6 million for the comparable quarter of 2011. 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 ARAGO Consulting S.A.S, The Boeing Company, Business Networks Europe GmbH, Centre National de l'Expertise Hospitalière (CNEH), CROSSOVER Europe S.r.l., EVN AG, Indian Railways Catering and Tourism Corporation Ltd, InTouch N.V., Lockheed Martin, SOFTBANK TELECOM Corp., Vías y Construcciones, S.A, WeBank SpA, and several other brand-name global customers.

In the fourth quarter of 2012, BroadVision posted net loss on a U.S. Generally Accepted Accounting Principles ("GAAP") basis of $1.1 million, or $0.25 per basic and diluted share, as compared with GAAP net loss of $0.07 million, or $0.01 per basic and diluted share, for the third quarter of 2012 and GAAP net loss of $1.8 million, or $0.40 per basic and diluted share, for the comparable quarter of 2011.

Full-year 2012 revenues totaled $15.1 million, with GAAP net loss of $5.1 million, or $1.09 per basic and diluted share, compared to 2011 revenues of $17.6 million and GAAP net loss of $5.4 million, or $1.20 per basic and diluted share.

As of December 31, 2012 the Company had $52.3 million of cash and cash equivalents and short-term investments, compared to a combined balance of $52.0 million as of September 30 2012 and $54.4 million as of December 31 2011.

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