SAN JOSE, Calif., January 28, 2010 -- Selectica (NASDAQ: SLTC), a leading provider of contract lifecycle management and sales configuration solutions, today announced financial results for its third quarter of fiscal 2010 for the period ending December 31, 2009.
Highlights:
- $4.4 million in total revenue, representing 20% quarter-over-quarter growth; contract management revenue of $3.0 million, representing 31% quarter-over quarter growth.
- Announced the promotion of Jason Stern to President and Chief Operating Officer.
- Selectica’s contract lifecycle management solution was ranked a number one sell-side quote-to-contract product suite in a report by AMR Research.
“Selectica continued to execute well on its strategy in the quarter,” said Jason Stern, President and Chief Operating Officer of Selectica. “Selectica has been able to grow revenue, reduce its cash burn, and deliver solutions that have been well received by both customers and the analyst community.”
Revenue for the third quarter of fiscal 2010 was $4.4 million, compared to $3.7 million for the second quarter of fiscal 2010 and $4.2 million for the third quarter of fiscal 2009. Net loss for the third quarter of fiscal 2010 was $737,000, or $(0.01) per share, which includes $471,000 of non-cash, non-recurring charges. This compares to a net loss of $1.1 million, or $(0.02) per share in the second quarter of fiscal 2010, and a net loss of $1.8 million, or $(0.06) per share, in the third quarter of fiscal 2009. Cash, cash equivalents, and short-term investments were $17.0 million as of December 31, 2009.
Contract lifecycle management revenue for the third quarter of fiscal 2010 was $3.0 million, compared with $2.3 million for the second quarter of fiscal 2010, and $2.8 million for the third quarter of fiscal 2009. Sales configuration revenue for the third quarter of fiscal 2010 was $1.4 million, compared with $1.4 million for the second quarter of fiscal 2010 and $1.4 million for the third quarter of fiscal 2009.
Selectica was also named a leader in the AMR Research report, “Contract Lifecycle Management Landscape: Why CLM Technologies Need To Be Part of Your Supply Chain,” published on October 29, 2009. According to AMR Research, “Selectica’s ability to integrate into the sales process with its configurator tool (focused on configuring, pricing, and quoting) and its CLM product to complete the sale set the stage for Selectica to be the No. 1 sell-side quote-to-contract product suite.”
Conference Call:
Selectica will host a conference call to discuss its financial results today at 5:00 p.m. EST (2:00 p.m. PST). To access the conference call by phone, dial (877) 941-8610. The conference call will also be webcast live via the Internet and can be accessed on the investor relations section of the company's website (www.selectica.com). An archive of the webcast will be available in the same location shortly after the completion of the call.
About Selectica, Inc.
Selectica (NASDAQ: SLTC) provides Global 2000 companies with solutions that automate complex contract management and sales configuration processes. Selectica's enterprise solutions streamline critical business functions including sales, procurement, and corporate governance, and enable companies to eliminate risk, increase revenue, and cut costs. Selectica customers represent leaders in manufacturing, technology, retail, healthcare, and telecommunications, including Bell Canada, Cisco, Covad Communications, Fujitsu, Hitachi, International Paper, ManTech, Levi Strauss & Co., Qwest Communications, and Rockwell Automation. For more information, visit www.selectica.com.
Forward Looking Statements
Certain statements in this release and elsewhere by Selectica are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the Company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of Company operations, or the performance or achievements of the Company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to the on-going global recession; fluctuations in demand for Selectica's products and services; government policies and regulations, including, but not limited to those affecting the Company's industry; and risks related to the Company's past stock granting policies and related restatement of financial statements. Selectica undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional risk factors concerning the Company can be found in the Company's most recent Form 10-K, and other reports filed by the Company with the Securities and Exchange Commission. |