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Attunity Reports Record Revenues for Third Quarter 2015

BURLINGTON, Mass., Nov. 4, 2015 /PRNewswire/ -- Attunity, Ltd. (NASDAQ CM: ATTU), a leading provider of big data management software solutions, today reported its unaudited financial results for the three month period ended September 30, 2015.

"The record revenue we reported for the quarter was driven by scaling our direct sales force, expanding our big data solutions for enterprise and cloud environments and delivering on effective marketing and business development programs. Each of these factors is continually feeding a pipeline of customer orders that are becoming larger in scope and value, and across a wider base of new customers than ever before," said Shimon Alon, Chairman and CEO of Attunity. "We are experiencing strong activity and increasing interest from customers, partners and other vendors across all of our product offerings, geographies and business lines. As we further extend our portfolio of innovative Big Data management solutions, we are able to support a larger number of different environments, such as data warehouses, clouds, Hadoop, open source, and others."

Recent Operational Highlights:

  • Signed a strategic global resell agreement with Teradata, expanding distribution to the large data warehousing and fast-growing Big Data markets
  • Introduced Attunity Replicate Express to drive market awareness and demand generation for the expansive mainstream database market, as well as the rapidly expanding Hadoop market
  • Won a strategic deal for Attunity Compose (formerly "BIReady"), the new Data Warehouse Automation offering, with one of the world's largest global insurance companies
  • Closed first Microsoft Azure customer order for the recently launched Attunity CloudBeam for Azure SQL data warehouse
  • Expanded offerings for the cloud with a new solution for loading data into Hadoop running on AWS
  • Introduced Attunity Visibility for enterprise data usage analytics and monitoring for Hadoop
  • Launched Attunity Replicate for PostgreSQL, a leading open-source database with rapidly growing market adoption

Financial Highlights for Q3 2015, compared with Q3 2014:

  • Total non-GAAP revenue increased 37% to $13.0 million
  • Total revenue increased 36% to $12.7 million
  • Non-GAAP net income of $0.4 million, compared with non-GAAP net income of $1.1 million for the third quarter of 2014
  • Generated positive cash flow from operations of $0.4 million

"Our strong partnerships with the major Big Data vendors have resulted in an extension of the OEM agreements we have with Microsoft and another leading global provider of business software and hardware systems. These agreements enable us to continue to generate leads and revenue, enhancing our brand. Working closely together with the Amazon Web Services (AWS) and Microsoft Azure teams, we are becoming a critical enabler of database migration services that facilitate data transfers between on-premises and cloud environments," continued Mr. Alon.

Big Data Management and Cloud Solutions

Attunity enhanced its replication platform for the cloud "CloudBeam," with the launch of a version for Microsoft Azure, as well as an expanded portfolio for AWS Cloud with support for Hadoop. The Company has already closed the first CloudBeam solution order for the Microsoft Azure SQL Data Warehouse and is building a growing pipeline working jointly with the Microsoft cloud team.

Attunity Visibility has become a trusted solution for enterprises, optimizing performance and balancing workloads from traditional data warehouses to Hadoop. Now, as enterprises look to adopt Hadoop at scale, they need to prioritize investments and make more informed decisions to optimize the value to business users. To accommodate this growing market need, Attunity enhanced Visibility with the launch of "Attunity Visibility 7.0" in order to enable data usage analytics in large Hadoop clusters. With these capabilities, Attunity Visibility is the market's only Big Data Management solution offering users business insights on the utilization of both Hadoop and data warehouses.

Sales and Marketing

The Company continued to expand its sales, marketing and business development teams, having grown the total headcount nearly 40% compared with the same period in 2014. These investments in sales and marketing, along with an expanded presence in the Big Data space at events and with analysts, have resulted in steady new customer acquisition and a strong sales pipeline. More importantly, we believe they will enable us to position the Company for sustainable long-term growth through the remainder of the year.

"By working closely with the AWS and Microsoft Azure teams, we are now widely recognized as a keystone for database migration services that facilitate data transfers between on-premises and cloud environments. The strong partnership with the major Big Data vendors resulted in extending the OEM agreements we have with Microsoft and another leading global provider of business software and hardware systems," concluded Mr. Alon.

Financial Results for Q3 2015

Total revenues for the third quarter of 2015 increased 36% to $12.7 million, compared with $9.4 million for the same period in 2014. This includes license revenues for the third quarter of 2015, which increased 26% to $7.0 million, compared with $5.5 million for the same period in 2014. It also includes maintenance and service revenue, which grew 49% to $5.8 million compared with $3.9 million for the same period in 2014.

Total non-GAAP revenue for the third quarter of 2015 was $13.0 million, compared with $9.5 million for the same period in 2014. This includes non-GAAP maintenance and service revenue of $6.0 million, which grew 52% from the same period in 2014.*

Operating loss for the third quarter of 2015 was $1.3 million, compared with an operating income of $0.4 million for the same period in 2014.

Non-GAAP operating income was $1.0 million for the third quarter of 2015, compared with operating income of $1.2 million for the third quarter of 2014.*

Net loss for the third quarter of 2015 was $1.9 million, or $0.12 per diluted share, compared with net income of $0.3 million, or $0.02 per diluted share in the third quarter of 2014.

Non-GAAP net income for the third quarter of 2015 was $0.4 million, compared with non-GAAP net income of $1.1 million for the same period in 2014. Non-GAAP net income for the third quarter of 2015 excludes a total of $2.3 million in expenses and amortization associated with acquisitions and equity-based compensation expenses, compared with $0.8 million of similar expenses for the same period in 2014.*

Cash and cash equivalents were $11.8 million as of September 30, 2015.

Shareholders' equity as of September 30, 2015 increased to $36.3 million, compared to $31.2 as of December 31, 2014.

* See "Use of Non-GAAP Financial Information" below for more information regarding Attunity's use of Non-GAAP financial measures.

Conference Call and Webcast Information

The Company will host a conference call with the investment community on Wednesday, November 4th at 10:00 a.m. Eastern Time featuring remarks by Shimon Alon, Chairman and CEO of Attunity, and Dror Harel-Elkayam, CFO of Attunity. The dial-in numbers for the conference call are +1-888-539-3679 (U.S. Toll Free), +1 80 924 6042 (Israel), or +1-719-325-2138 (International). All dial-in participants must use the following code to access the call: 1144915.

Please call at least five minutes before the scheduled start time. The conference call will also be available via webcast, which can be accessed through the Events section of Attunity's website, http://www.attunity.com/events. Please allow extra time prior to the call to visit the site and download any necessary software...


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