Press Release
Press Release
|
AXS-One Reports Financial Results For Second Quarter of 2006 |
|
For Immediate Release RUTHERFORD, N.J., August 2, 2006 - AXS-One Inc. (AMEX: AXO), a leading provider of high performance Records Compliance Management (RCM) software solutions today announced its financial results for the second quarter and six-month period ended June 30, 2006. Total revenues for the second quarter were $8.0 million, an increase of 6.8 percent compared with revenues of $7.5 million for the second quarter of 2005 and up 6.5 percent sequentially compared to the $7.5 million reported for the first quarter. License revenues for the second quarter were $1.0 million, up $.5 million from the For the first six months of 2006, total revenues were $15.5 million compared with total revenues of $15.5 million for the first six months of 2005. License fees were $1.9 million, up 24.5 percent, or $.4 million, from the $1.5 million in license fees recognized for the first six months last year. Total operating expenses were $20.7 million, a decrease of 8.7 percent from the $22.7 million last year, which included the $0.9 million in restructuring expenses. The net loss for the first six months of 2006 was $5.2 million, or $(0.15) per fully diluted share (based on 34.3 million fully diluted shares) compared to a net loss of $7.5 million, or $(0.26) per fully diluted share (based on 29.3 million fully diluted shares) for the comparable prior-year period. The Company completed the quarter with $3.3 million in cash and cash equivalents. The Company's accounts receivable were $4.3 million as of June 30, and the Company completed the quarter with $1.7 million of borrowing availability on its $4 million line of credit. “While we saw an increase in deal closings during the second quarter, specifically with our partner Sun Microsystems, our reported results are below our expectations,” commented Bill Lyons, chairman and CEO of AXS-One. “We continue to experience lengthy sales cycles which resulted in a number of deals that were anticipated to close being pushed out into subsequent quarters. However, recently released industry studies that highlight AXS-One's complete integrated platform solution validate our belief that our software is appropriately positioned within this growing and dynamic market. These factors, combined with improved execution on our sales pipeline, should allow us to grow revenues and continue our progress toward a return to profitability.” Conference call information Management will conduct a conference call to discuss these results at 5:00 p.m. Eastern on August 2, 2006. Interested parties can participate in the call by dialing 706-645-0399 or can access the webcast at www.axsone.com . The webcast will be archived for 30 days following the call. Interested parties may submit questions that they would like answered during the conference call by e-mail to info@axsone.com. Interested parties may listen to the call via a live CCBN webcast that will be available via the company website www.axsone.com. Interested parties should access the webcast approximately 10-15 minutes before the scheduled start time. About AXS-One Inc. AXS-One (AMEX: AXO) is a leading provider of high performance Records Compliance Management solutions. The AXS-One Compliance Platform enables organizations to implement secure, scalable and enforceable policies that address records management for corporate governance, legal discovery and industry regulations such as SEC17a-4, NASD 3010, Sarbanes-Oxley, HIPAA, The Patriot Act and Gramm-Leach Bliley. AXS-One's technology has been critically acclaimed as best of class and delivers digital archiving, business process management, electronic document delivery and integrated records disposition and discovery for e-mail, instant messaging, images, SAP and other corporate records. Founded in 1979, and headquartered in Rutherford , NJ , AXS-One has offices worldwide including in the United States , Australia , Singapore , United Kingdom and South Africa . For further information, visit the AXS-One website at http://www.axsone.com. AXS-One, the AXS-One logo, "Access Tomorrow Today," AXSPoint, and TransAXS are registered trademarks of, and AXS-One Compliance Platform, AXS-One Retention Manager, AXS-One Rapid-AXS, AXS-Link for Desktop, AXS-Link for SAP, AXS-Link for Lotus Notes, AXS-Link for Microsoft Exchange, "The Records Compliance Management Company", e-Cellerator, AXS Desk, "AXS-One Collaboration FrameWorks," SMART, AXS-Link and Tivity are trademarks of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies. Special Note Regarding Forward-Looking Statements: A number of statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. These risks and uncertainties include, but are not limited to: our ability to return to profitability; our ability to grow license and service revenue; potential vulnerability to technological obsolescence; the risks that our current and future products may contain errors or defects that would be difficult and costly to detect and correct; potential difficulties in managing growth; dependence on key personnel; the possible impact of competitive products and pricing; and other risks described in more detail in AXO's most recent Form 10-K and other Securities and Exchange Commission filings. -Tables Follow-
Company Contact:
IR Contact: |
 |