Actionable news
0
All posts from Actionable news
Actionable news in TIGR: TigerLogic Corporation,

Tigerlogic Corporation Announces First Fiscal Quarter Financial Results

The following excerpt is from the company's SEC filing.

PORTLAND, OR. August 13, 2015

TigerLogic Corporation (Nasdaq: TIGR) today announced financial results for the first fiscal quarter ended June 30, 2015. Highlights are as follows:

Revenues:

Total revenues were $1.6 million for the first fiscal quarter ended June 30, 2015, an increase of $0.1 million, or 8%, from the prior quarter and a decrease of $0.2 million, or 10%, from the first quarter of the prior year. Subscription revenue from our Postano business increased $0.1 million sequentially, or 10%, and increased $0.4 million, or 101%, from the same quarter in the prior year. License revenu es associated with our Omnis business decreased 6% from the prior quarter and decreased $0.3 million, or 47%, from the same quarter in the prior year. Services revenues increased $0.1 million, or 19%, sequentially and decreased $0.2 million, or 31%, from the first quarter of the prior year.

Operating Expenses:

Operating expenses for the first quarter ended June 30, 2015 were $3.2 million compared to $3.7 million in the prior quarter and $5.2 million for the same quarter in the prior year. The decrease in operating expenses reflects the results of concerted efforts to control costs and the consolidation of our headquarters to Portland, Oregon during the quarter.

Net Loss:

Net loss for the first fiscal quarter ended June 30, 2015 was $1.6 million, or $0.05 per share, compared to net loss of $2.2 million, or $0.07 per share, in the prior quarter and $3.4 million, or $0.11 per share, for the first quarter of the prior year.

Adjusted EBITDA:

Adjusted EBITDA was negative $1.4 million for the first fiscal quarter ended June 30, 2015 as compared to negative $2.1 million in the prior quarter and negative $3.2 for the first fiscal quarter of the prior year. The improvement was primarily a result of the benefit of our cost control initiatives.

Cash was $9.5 million as of June 30, 2015, down $0.8 million from March 31, 2015.

We grew our revenues 8% sequentially and reduced our operating expenses 15% from the prior quarter which improved our Adjusted EBITDA by 34% during the quarter, said Roger Rowe, CEO/CFO of TigerLogic. We have more work to do to become cash flow positive, but I am pleased with the progress we are making to improve our operating results, continued Rowe.

For information regarding the non-GAAP financial measures discussed in this release, please see Non-GAAP Financial Measures and Reconciliation of GAAP to Non-GAAP Financial Measures below.

Earnings Call

As previously announced, the Company has suspended indefinitely the practice of holding quarterly conference calls. Please refer to the reports and documents filed by the Company with the U.S. Securities and Exchange Commission, including our periodic reports on Form 10-K and Form 10-Q, and our current reports on Form 8-K. These reports are...


More