New book by Larry Connors Click here Improve your trading - See how
"I am pleased to announce that we posted our second consecutive quarter of positive operating cash flow despite challenging market conditions. Our total bookings fell short of our expectations in the second quarter due to the slippage of a multi-million dollar transaction which we are pleased to announce has subsequently closed," said Steve Springsteel, Chairman, President and Chief Executive Officer. "We are cautiously optimistic that this recent sale signals that customers are willing to begin investing again in those products which demonstrate strong ROI characteristics."
In a release dated May 7, the company stated:
- Total revenues for the second quarter of fiscal year 2009 were $18.0 million, down from $23.4 million in the prior quarter and down from $24.7 million for the second quarter of fiscal year 2008.
- License revenues for the second quarter of fiscal year 2009 were $4.3 million, down from the $7.9 million reported in the prior quarter and $4.8 million in the second quarter of fiscal year 2008. Service revenues for the second quarter of fiscal year 2009 were $13.7 million, compared to $15.4 million in the prior quarter and $19.9 million reported for the same period of fiscal year 2008.
- Chordiant reported a GAAP net loss of $3.5 million, or GAAP loss per basic share of $0.12, for the second quarter of fiscal year 2009 compared to a GAAP net loss of $1.2 million, or GAAP loss per basic share of $0.04, for the same period of fiscal year 2008. Included in the GAAP results for the second quarter of fiscal 2009 was a $0.7 million non-cash deferred tax expense.
- Chordiant reported a second quarter fiscal year 2009 non-GAAP net loss of $1.6 million, or a non-GAAP loss per basic share of $0.05, compared to non-GAAP net income of $0.1 million, or non-GAAP earnings per fully-diluted share of $0.00, for the second quarter of fiscal year 2008. Non-GAAP net income and non-GAAP net loss exclude stock-based compensation expense, the amortization of purchased intangible assets, and the non-cash tax expense relating to net operating loss carryforwards.
- Deferred revenue at the end of the second quarter of fiscal year 2009 was $36.4 million, a decrease of $6.7 million as compared to the ending balance of $43.1 million at December 31, 2008. Deferred revenue does not include future amounts due under the Vodafone transaction that was closed in the first quarter of fiscal year 2008.
- Bookings were $8.4 million for the second quarter of fiscal year 2009, compared to $13.6 million in the prior quarter and $20.4 million in the same period last year.
- Chordiant's cash, cash equivalents, restricted cash and marketable securities position decreased by approximately $0.5 million during the quarter to $53.4 million at March 31, as compared to $53.9 million at December 31, 2008. The modest decline in the cash balance resulted from the impact of translating the company's international currency positions into U.S. dollars. On a constant currency basis using exchange rates as of December 31, 2008, Chordiant's cash balance would have increased to approximately $54.7 million.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
