CIMdata PLM Industry Summary Online Archive
21 November 2005
Financial News
Agile Reports Second Quarter Fiscal 2006 Results
Agile Software Corporation announced results for the second quarter of fiscal 2006, which ended October 31, 2005. Total revenues for the quarter were $31.5 million, compared to $28.2 million for the second quarter of fiscal 2005. License revenues for the second quarter of fiscal 2006 were $10.1 million, compared to $11.2 million for the second quarter of fiscal 2005.
Net loss for the second quarter of fiscal 2006, on a generally accepted accounting principles (GAAP) basis, was $4.0 million, or ($0.07) per share, compared to a net loss of $92,000, or ($0.00) per share, for the second quarter of fiscal 2005.
Non-GAAP net loss for the second quarter of fiscal 2006, which excludes amortization of intangibles and stock compensation, was $1.6 million, or ($0.03) per share, compared to a non-GAAP net income of $672,000, or $0.01 per share, for the second quarter of fiscal 2005. Reconciliation between our net income (loss) on a GAAP and non-GAAP basis is provided in a table immediately following the non-GAAP Condensed Consolidated Statements of Operations below.
Management Commentary
"Revenues were up year-over-year, but down sequentially," said Bryan Stolle, Agile chief executive officer. "While PLM remains the hottest segment within enterprise software sector, the demand picture in the overall enterprise software sector is still difficult, creating challenges in delivering predictable results. Overall, we are optimistic about the PLM segment, but we are experiencing somewhat inconsistent results due to unpredictable customer capital spending patterns."
"We remain optimistic about the long-term prospects for our business and for PLM, though we are disappointed in the Q2 results," said Jay Fulcher, president and COO. "Agile continues to win in the market, and Agile customers continue to broaden their deployment of our solutions. In the second half of our fiscal year we will be focused on driving more predictable revenues and improved bottom line performance while continuing to deliver value to our customers."
Customer Wins and Expansions
Organizations that purchased new or additional licenses of Agile's PLM solutions include: Advanced Medical Optics, Alps, Alcatel, Analogic, Arthrocare, Braun, Chunghwa, Cisco, Eastman Kodak, Flextronics, Harris, Hill-Rom, Hitachi, IBM, Intier, Intuitive Surgical, Inventech, Lockheed Martin, Matsushita, Metaldyne, Panasonic, Philip Morris International, Philips, SanDisk, Sanmina SCI, Siemens, Tellabs, Texas Instruments, Thyssen Krupp and Welch Allyn.
Conference Call Details
Agile will discuss its second quarter results and management's forward looking guidance on a conference call today beginning at 2:00 p.m. Pacific Time. You may access replays of the Web cast for ninety days after the call at http://www.agile.com/investors . Financial and statistical information to be discussed in the call will be available on the company's Web site immediately prior to commencement of the call. Additional investor information can be accessed at http://www.agile.com or by calling Agile's Investor Relations at 408-284-4011.
Non-GAAP Financial Measures
In addition to reporting our financial results in accordance with generally accepted accounting principles, or GAAP, we are also providing with this press release non-GAAP net income (loss) and non-GAAP net income (loss) per share information. In preparing our non-GAAP information, we have excluded where applicable, stock-based compensation (a non-cash charge), acquisition-related amortization of intangible assets and acquired in-process research and development (non-cash charges), acquisition related compensation (a non-recurring charge), and restructuring and other charges. Because of the non-recurring or infrequent nature and/or non-cash nature of several of these charges, we believe that excluding them provides both management and investors with additional insight into our current operations, the trends affecting the Company and the Company's marketplace performance. In particular, management finds it useful to exclude the non-cash charges in order to more readily correlate the Company's operating activities with the Company's ability to generate cash from operations, and excludes the non-recurring and infrequently incurred cash items as a means of more accurately predicting liquidity requirements. Accordingly, management uses these non-GAAP measures, along with the comparable GAAP information, in evaluating our historical performance and in planning our future business activities. Please note that our non-GAAP measures may be different than those used by other companies. The additional non-GAAP financial information we present should be considered in conjunction with, and not as a substitute for, our financial information presented in accordance with GAAP.
Detailed financials are available at http://www.agile.com/pressreleases/index.asp?view=485 .
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