Envivio Reports Third Quarter Fiscal 2015 Financial Results

SOUTH SAN FRANCISCO, Calif., Dec. 1, 2014 (GLOBE NEWSWIRE) -- Envivio (Nasdaq:ENVI), a leading provider of software-based video processing and delivery solutions, today announced financial results for the third quarter of fiscal year 2015 ended October 31, 2014.

Financial Highlights
  • Revenue for the third quarter of fiscal 2015 was $9.0 million, compared to $11.5 million in the second quarter of fiscal 2015 and $11.7 million in the third quarter of fiscal 2014.
  • GAAP net loss for the third quarter of fiscal 2015 was $5.4 million, or $0.20 per share, compared to a net loss of $4.1 million, or $0.15 per share, in the second quarter of fiscal 2015 and net loss of $2.9 million, or $0.11 per share, in the third quarter of fiscal 2014.
  • Non-GAAP net loss for the third quarter of fiscal 2015 was $4.1 million, or $0.15 per share, compared to net loss of $3.5 million, or $0.13 per share, in the second quarter of fiscal 2015 and net loss of $2.3 million, or $0.08 per share, in the third quarter of fiscal 2014.

"Our results were negatively impacted by softening macro-economic conditions within EMEA, and customer consolidation in the U.S., delaying certain projects. Despite our disappointing financial results, we are encouraged with the continued positive reception of our product offerings by our customers, as evidenced by our significant wins of U.S. Tier 1 service providers in the quarter. These wins are laying a foundation for future growth and are a testament to the strength of our technology and comprehensive solutions," said Julien Signès, Founder and CEO of Envivio.

"With consolidation in our customer base constraining industry-wide capital expenditures; we are taking action to reduce our expenses without diminishing our capacity to develop innovative market leading technologies," added Signès.

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