Insightful Corporation (NASDAQ: IFUL), a leading provider of
predictive analytics and reporting solutions, today announced its
operating results for the first quarter ended March 31, 2008.
Insightful reported total revenues of $4.9 million for the first
quarter of 2008, a decrease of 21% compared to revenues of $6.2
million for the first quarter of 2007. For the first quarter of
2008, Insightful reported a net loss of $0.4 million, or $0.03 per
share, compared to a net loss of $1.1 million, or $0.09 per share,
for the first quarter of 2007. Non-GAAP operating results, which
exclude stock-based compensation expense and amortization of
intangible assets, were a loss of $0.3 million, or $0.02 per share,
for the first quarter of 2008, compared to a loss of $0.8 million,
or $0.06 per share, for the first quarter of 2007. As described in
the section below entitled �Use of Non-GAAP Financial Measures,�
non-GAAP earnings or loss differs from net income or loss reported
under accounting principles generally accepted in the United States
(GAAP) due to the exclusion of stock-based compensation expense and
the amortization of intangible assets. The reconciliation of
Insightful�s GAAP net loss to its non-GAAP operating results for
the quarters ended March 31, 2008 and 2007 are set forth at the end
of this release. Insightful�s cash, cash equivalents, and short and
long-term investments totaled $11.2 million at March 31, 2008, up
from $11.0 million at December 31, 2007. �We are pleased with the
progress on the path back to profitability that we made during the
first quarter,� said Jeff Coombs, president and CEO of Insightful
Corporation. �We reduced our non-GAAP operating loss to $269,000
for the quarter, and our cash balance has increased.� �We are
certainly disappointed with our overall revenue decline in the
first quarter, as compared to the first quarter of last year,�
Coombs continued. �However, we believe we have a strong foundation
upon which to continue delivering on our mission to deploy
predictive analytics across our customers� organizations. We have a
strong balance sheet and an able R&D department. Despite
headcount reductions in the fourth quarter of 2007, we expect to
continue delivering a series of product releases built on our
S-PLUS platform over the coming quarters. We also believe that Bob
Fitzgerald, who joined us on February 1 as vice president of
worldwide field operations, is making progress in driving a unified
worldwide sales and operations function. He is making a difference
in enabling us to better sell to and support global organizations.�
Quarterly Financial Highlights Software license revenues were $1.7
million in the first quarter of 2008, compared to $2.0 million in
the first quarter of 2007. Maintenance revenues were $2.1 million
in the first quarter of 2008, compared to $2.0 million in the first
quarter of 2007. Professional services and other revenues were $1.1
million in the first quarter of 2008, compared to $2.1 million in
the first quarter of 2007. Domestic revenues were $2.3 million in
the first quarter of 2008, compared to $3.1 million in the first
quarter of 2007. International revenues were $2.6 million in the
first quarter of 2008, compared to $3.1 million in the first
quarter of 2007. Funded research, which is an offset to research
and development expense in the company�s income statement, was $0.4
million in the first quarter of 2008, compared to $0.5 million in
the first quarter of 2007. Use of Non-GAAP Financial Measures The
non-GAAP financial measure of loss included in this press release
is different from the GAAP measure of net loss, as this non-GAAP
measure excludes certain expenses otherwise included in the
computation of net loss. Insightful believes this non-GAAP measure
is useful to enhance an overall understanding of its past financial
performance and also its prospects for the future. These
adjustments to the company�s GAAP results are presented with the
intent of providing both management and investors a more complete
understanding of Insightful�s underlying operating results and
trends. This non-GAAP measure is among the primary indicators
management uses as a basis for planning and forecasting of future
periods. The expenses excluded from Insightful�s GAAP results
include stock-based compensation expense and amortization of
intangible assets arising from the 2004 acquisition from Lucent
Technologies, Inc. of the title to the software code underlying the
�S� programming language. Stock-based compensation expense and
amortization of intangible assets have no current effect on cash or
the future uses of cash. Insightful�s stock-based compensation
expense fluctuates with changes in the company�s stock price and
interest rates. For this reason, changes in stock prices and
interest rates could mask variation and trends in Insightful�s GAAP
operating results that may otherwise be important to an
understanding of the company�s results. The acquisition of
intangible assets was an event outside of the course of
Insightful�s normal business operations. For these reasons,
management believes that exclusion of stock-based compensation
expense and amortization of intangible assets may be important to
an understanding of Insightful�s ongoing operating performance.
Reconciliations of GAAP to non-GAAP results are as follows (in
thousands, except share data): � Period Ended March 31, 2008 �
Period Ended March 31, 2007 � Diluted EPS � Diluted EPS Net loss as
reported $ (373 ) $ (0.03 ) $ (1,092 ) $ (0.09 ) � Add Back - Stock
Compensation Expense Professional services and other cost of
services (1 ) 15 Sales and marketing 1 59 Research and development
14 22 General and administrative � 90 � � 122 � � 104 � � 0.01 � �
218 � � 0.02 � � Add Back - Amortization of Intangibles � -- � � --
� � 49 � � -- � � Non-GAAP loss $ (269 ) $ (0.02 ) $ (825 ) $ (0.06
) ABOUT INSIGHTFUL CORPORATION Insightful Corporation (NASDAQ:IFUL)
is a provider of predictive analytics and reporting solutions.
Insightful products S-PLUS�, Insightful Miner� and S-PLUS�
Enterprise Server allow companies to perform sophisticated
statistical data analysis and data mining and create high-quality
graphics and reports. Insightful has been delivering
industry-leading, high-ROI solutions to thousands of companies in
financial services, life sciences, telecommunications, and
manufacturing, plus government and research institutions, for 20
years. Headquartered in Seattle, Insightful has offices in New
York, North Carolina, the United Kingdom, Switzerland, France and
Hong Kong, with distributors around the world. For more
information, visit www.insightful.com, email info@insightful.com or
call 1-800-569-0123. NOTE TO INVESTORS ABOUT FORWARD-LOOKING
STATEMENTS Forward-looking statements include, but are not limited
to, statements about our future financial results, the anticipated
development and release schedule for our products and solutions,
and anticipated progress towards more enterprise deployments and
developing a unified worldwide sales and operations function that
will enable us to better sell to and support global customers.
Words such as �expects,� �believe,� �plan,� �anticipate,� and
similar expressions are intended to identify forward-looking
statements, but their absence does not necessarily mean that the
statement is not forward-looking. Forward-looking statements are
based on the judgment and opinions of management at the time the
statements are made. These statements are not guarantees of future
performance, and inaccurate assumptions and known and unknown risks
and uncertainties can affect their accuracy. Actual results could
differ materially from those expressed or implied by the
forward-looking statements for a number of reasons, including, but
not limited to, the risk that we may not achieve growth of the size
or at the rate we anticipate, the risk that we do not realize the
benefits we anticipate from our investments in research and
development, the risk that we will be unable to develop our new
products and solutions on the schedule that we anticipate and the
risk that our new products and solutions do not achieve market
acceptance. More detailed information regarding these and other
factors that could affect our actual results is set forth in our
filings with the Securities and Exchange Commission, including our
most recent report on Form 10-KSB. You should not unduly rely on
these forward-looking statements, which apply only as of the date
of this release. We undertake no obligation to update publicly any
forward-looking statements to reflect new information, events or
circumstances after the date of this release or to reflect the
occurrence of anticipated events. INSIGHTFUL CORPORATION AND
SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands,
except share and per share data) � March 31,2008 December 31,2007
(unaudited) � ASSETS Current Assets: Cash and cash equivalents $
5,722 $ 6,663 Trade accounts receivable, net 3,100 4,181 Short-term
investments 4,008 1,899 Other receivables 444 303 Prepaid expenses
and other current assets � 572 � � 558 � � Total current assets
13,846 13,604 Long-term investments 1,512 2,405 Property and
equipment, net 2,276 2,457 Goodwill 800 800 Other assets � 112 � �
109 � � Total assets $ 18,546 � $ 19,375 � � LIABILITIES AND
STOCKHOLDERS� EQUITY Current Liabilities: Accounts payable 320 630
Accrued payroll-related liabilities 1,126 1,508 Accrued expenses
and other current liabilities 678 392 Deferred revenue - short term
� 5,704 � � 5,861 � � Total current liabilities 7,828 8,391
Deferred revenue - long term 121 152 Commitments and contingencies
Stockholders� Equity: Preferred stock, $0.01 par value: Authorized
- 1,000,000 shares Issued and outstanding-none � � Common stock,
$0.01 par value: Authorized - 30,000,000 shares Issued and
outstanding-12,979,925 shares at March 31, 2008 and December 31,
2007 130 130 Additional paid-in capital 38,977 38,873 Accumulated
deficit (28,289 ) (27,916 ) Other accumulated comprehensive loss �
(221 ) � (255 ) � Total stockholders� equity � 10,597 � � 10,832 �
� Total liabilities and stockholders� equity $ 18,546 � $ 19,375 �
INSIGHTFUL CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS (In thousands, except per share data)
(unaudited) � Three months ended March 31, � 2008 � � � 2007 �
Revenues: Software licenses $ 1,674 $ 2,042 Software maintenance
2,103 2,013 Professional services and other � 1,107 � � 2,128 � �
Total revenues � 4,884 � � 6,183 � � Cost of revenues: Software
related 255 362 Professional services and other � 840 � � 1,467 � �
Total cost of revenues � 1,095 � � 1,829 � � Gross profit � 3,789 �
� 4,354 � � Operating expenses: Sales and marketing 2,012 2,645
Research and development 1,294 2,000 Less � Funded research � (361
) � (506 ) � Research and development, net 933 1,494 General and
administrative � 1,327 � � 1,427 � � Total operating expenses �
4,272 � � 5,556 � � Loss from operations (483 ) (1,212 ) Other
income, net � 128 � � 132 � � Loss before income taxes (355 )
(1,080 ) Income tax expense � (18 ) � (12 ) � Net Loss $ (373 ) $
(1,092 ) � Basic and diluted net loss per share $ (0.03 ) $ (0.09 )
� Basic and diluted weighted average common shares outstanding
12,980 12,830
Insightful (NASDAQ:IFUL)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Insightful (NASDAQ:IFUL)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024