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Actionable news in DAEG: Daegis Inc,

Daegis: Press Release Dated September 10, 2015 News Release FOR IMMEDIATE RELEASE

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

Daegis Inc. Reports Fiscal 2016 First Quarter Results

pany Con

inues Exec

tion on C

annel Strat

gy and De

ivers New

roduct Re

Daegis Inc. (NA

DAQ: D

EG), a glo

al information govern

nce, data

igration an

applicati

n develop

ent softwa

e company

today ann

unced financi

l results fo

its first qu

rter ended July 31, 2015.

First Quarter Fiscal 2016 Financial Highlights

Total revenue of $5.2 million, compared to $6.7 million year over year. Approximately $1.3 million of the decrease is the result of the Companys strategic de-emphasis of its eDiscovery services business. Revenue also declined $200,000 from the strengthening dollar on certain of the Companys European maintenance renewals.

GAAP net loss of $0.7 million or $0.04 loss per share, compared to GAAP net loss of $0.2 million or $0.02 loss per share for the same period last year.

Adjusted EBITDA of $1,000, compared to $823,000 last year.

Non-GAAP net loss of $75,000 or $0.00 loss per share, compared to Non-GAAP Net Income of $240,000 or $0.01 per share last year.

Cash at July 31, 2015 was $2.5 million, compared to $5.4 million at April 30, 2015. The decrease reflects a $1.5 million elective debt payment made during the quarter.

Total debt outstanding at July 31, 2015 was $9.8 million, a decrease of $2.0 million from April 30, 2015.

nting on th

results, D

egis CEO Tim Bacci said, Our

irst quarte

results refl

ct the executi

n of our e

terprise so

tware strat

gy and the

ind down of our eDi

ices busines

. Excludin

y services

evenue an

the headw

nd from th

ing dollar over la

t year, our

evenue is slightly up

ear over ye

r. There is stability in our core b

siness with str

ng mainte

als and a backlog of a

y $1.2 million in prof

ssional service

, which we expect to r

cognize o

er the rem

inder of thi

fiscal yea

. Our prod

ct roadma

is custom

-focused

ith a major upgrade r

lease of th

archive pl

nned for l

ter this month

s well as a

recently

released new

ersion of our SQLBas

product t

at delivers signific

nt new fu

ctionality f

r our deve

opment an

database

ustomers.

Bacci c

ntinued,

ere man

ging the b

siness by i

vesting in

he areas th

t continue

o advanc

our strate

y while m

intaining a disciplined cost struct

re in suppo

t of our lo

g-term

strategic objectives. Our focus is where it needs to be, which is developing sustainable global direct and channel programs and initiatives while delivering products that meet the needs of our customers. Consistent with what weve been anticipating, we expect to begin to see top line growth, with second quarter revenue sequentially increasing by a range of $250,000 to $750,000 over the first quarter of fiscal 2016.

Other Company Highlights

Released SQLBase 12.0 with significant new capabilities for scalability and multi-user performance.

Completed development of Version 4.0 of the AXS-One Archive to meet the enterprise needs of global organizations for expanded search capabilities, as well as SharePoint connector enhancements.

Achieved additional certification of the AXS-One Archive on Ciscos storage product lines, which allows for a more comprehensive go-to-market plan with Ciscos global sales force.

Conducted training initiatives to support a broader global rollout of our Information Governance solutions with Oracles sales force.

Added two seasoned enterprise software sales executives to the U.S. region.

First Quarter 2016 Comparative Financial Summary

$ In Millions, except per share and % data

% or $

FY2016

FY2015

Change

Total Revenue

($1.4)

Information Governance...


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