Vignette Reports Preliminary Fourth-Quarter 2008 Financial Results
06 Janvier 2009 - 1:00AM
Business Wire
Vignette Corporation (NASDAQ: VIGN) today announced preliminary
results for its fourth quarter ended December 31, 2008. Preliminary
results indicate fourth-quarter revenue is expected to be in the
range of $35 to $37 million with license revenue for the quarter to
be approximately 17% to 19% of total revenue. Vignette expects
fourth-quarter non-GAAP net income to be between $(0.05) and $0.05
per share on a fully diluted basis. The Company is unable to update
guidance for GAAP net income at this time due to its evaluation of
various year-end GAAP-related accounting charges. �The weak
economy, foreign exchange fluctuations and the continued re-build
of our go-to-market capabilities impacted our fourth-quarter
results,� said Mike Aviles, president and CEO of Vignette. �Based
on the uncertain economic climate for 2009, we have taken action to
reduce our overall cost structure by approximately 10 percent. We
will continue to monitor our investments and revenue outlook to
generate positive cash flow for the full-year 2009. Vignette�s
balance sheet remains strong and provides us with the ability to
build for the Company�s future.� Vignette will host a conference
call and live Webcast regarding its fourth-quarter financial
results on Tuesday February 3, 2009 at 5:00 p.m. EST. A press
release associated with the announcement will be distributed
approximately 30 minutes prior to the start of the conference call.
To access the Webcast, visit the Investor Relations section of
Vignette�s Web site. If you are not able to access the live
Webcast, dial-in information is as follows: Dial-in number:
888-201-0273 International Dial-in: +1-706-634-9519 Call title:
Vignette Financial Results About Vignette Vignette provides
software and services that deliver the Web�s most dynamic user
experiences. The Vignette Web Experience brings rich media and
engaging content to life for the world�s greatest brands. Vignette
is headquartered in Austin, Texas, with operations worldwide. Visit
www.vignette.com. Non-GAAP Financial Measures The Company provides
non-GAAP measures for net income, operating income and net income
per share data as supplemental information regarding the Company's
core business operational performance. The Company believes that
these non-GAAP financial measures are useful to investors because
they exclude certain non-operating or non-recurring charges. The
Company's management excludes these non-operating or non-recurring
charges when it internally evaluates the performance of the
Company's business and makes operating decisions, including
internal budgeting, performance measurement and the calculation of
bonuses and discretionary compensation. In addition, these non-GAAP
measures more closely reflect the essential revenue generation
activities of the Company and the direct operating expenses
(resulting in or from cash expenditures) needed to perform these
revenue-generating activities. Accordingly, management excludes
amortization of acquired technology, stock-based compensation
related to employee stock options, business restructuring charges
(benefits), amortization expense for certain acquired intangible
assets and one-time charges and gains. The Company believes that
providing the non-GAAP measures that management uses is useful to
investors for two primary reasons. First, it provides a consistent
basis for investors to understand the Company's financial
performance on a trended basis across many historical periods,
particularly given the adoption of SFAS 123R at the beginning of
fiscal year 2006 and the changes it has introduced for calculating
stock-based compensation expenses relative to prior periods.
Second, it allows investors to evaluate the Company's performance
using the same methodology and information as that used by the
Company's management. Non-GAAP measures are subject to material
limitations as these measures are not in accordance with, or a
substitute for, US GAAP and therefore the Company's definition or
interpretation may be different from similar non-GAAP measures used
by other companies and independent financial analysts. However, the
Company's management compensates for these limitations by providing
the relevant and detailed disclosure of the items excluded in the
calculation of non-GAAP net income and net income per share, which
should be supplementally considered when evaluating the Company's
results. In addition, items such as amortization expense for
certain intangible assets, stock compensation charges, business
restructuring charges (benefits) and one-time charges and gains
that are excluded from non-GAAP net income and earnings per share
can have a significant impact on earnings. Management compensates
for these limitations by evaluating the non-GAAP measure together
with the most directly comparable GAAP measure. The Company has
historically provided non-GAAP measures to investors to supplement
its GAAP results in order to help investors evaluate the company's
core operating performance the way management does. FORWARD-LOOKING
STATEMENTS The statements contained in this press release that are
not purely historical are forward-looking statements including
statements regarding Vignette�s expectations, beliefs, hopes,
intentions or strategies regarding the future. The final results
for the fourth quarter of 2008 may differ from the preliminary
results discussed above due to factors that include, but are not
limited to, risks associated with final review of the results and
preparation of quarterly financial statements, including final
review of transactions and consultation with our outside auditors.
All forward-looking statements included in this press release are
based upon information available to Vignette as of the date hereof
and Vignette assumes no obligation to update any such
forward-looking statement. Additional information regarding
potential risks is provided in Vignette�s filings with the
Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K for the year ended December 31, 2007 and
its Quarterly Report on Form 10-Q for the quarter ended September
30, 2008. Vignette assumes no obligation to update the
forward-looking statements included in this release. Vignette and
the V Logo are trademarks or registered trademarks of the Vignette
Corporation in the United States and other countries. All other
names are the trademarks or registered trademarks of their
respective companies.
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