CIMdata PLM Industry Summary Online Archive
19 March 2007
Financial News
Agile Reports Third Quarter Results
Agile Software Corporation announced results for the third quarter of fiscal 2007, which ended January 31, 2007. Total revenues for the quarter were $33.2 million, compared to $32.8 million for the third quarter of fiscal 2006. License revenues for the third quarter of fiscal 2007 were $11.5 million, compared to $13.4 million in the third quarter of fiscal 2006.
Net loss for the third quarter of fiscal 2007, on a generally accepted accounting principles (GAAP) basis, was $5.8 million, or ($0.10) per share, compared to a net loss of $4.1 million, or ($0.08) per share for the third quarter of fiscal 2006.
Non-GAAP net income for the third quarter of fiscal 2007 (which excludes amortization of intangibles, stock compensation and stock option review costs) was $488,000 or $0.01 per share. Non-GAAP net loss for the third quarter of fiscal 2006 (which excludes amortization of intangibles, stock compensation and restructuring charges) was $122,000 or $0.00 per share. Reconciliation between our net income (loss) on a GAAP and non-GAAP basis is provided in a table immediately following the Condensed Consolidated Statements of Operations below.
Management Commentary
"We were pleased with our results in Q3, yet we remain intensely focused on driving more top line revenue going forward," said Jay Fulcher, Agile president and CEO. "In Q3, we again set new company records for revenues in our small and medium enterprise business. We also had several strategic customer wins that confirm our PLM leadership in the high tech and electronics vertical, with particular momentum in the semiconductor industry. The adoption of our Agile 9.2 release continues to go very well, and we expect that the launch of our next major release in Q4, Agile 9.2.2, will likely help us drive more revenue from our installed base in subsequent quarters."
Customer Wins and Expansions
Agile continues to gain momentum across its key industries, including electronics and high tech, life sciences and consumer products. Organizations that purchased new or additional licenses in the third quarter include ADVA AG Optical Networking, Advantech, Alcatel, Altera Corporation, Avail Medical Products, Ball Aerospace, Brocade Communication Systems, Cisco Systems, Form Factor, Freescale Semiconductor, GlaxoSmithKline, GN Netcom, Haemonetics, Heidenhain, International Flavors and Fragrances, Nvidia, Parata Systems, SanDisk, Scientific Atlanta, Sprint PCS, UEC Technologies and Universal Avionics.
Quarter Highlights
Highlights from the quarter include the following:
Agile continued to see strong adoption of its Agile 9.2 product line in the quarter, announcing Agile 9.2 deployments at contact lens manufacturer CooperVision, quality measurement systems manufacturer Instron, and semiconductor solutions leader Micron. Agile continued to gain particular traction in the semiconductor vertical in the quarter, winning a strategic selection at Freescale Semiconductor, which selected Agile as their global product data management solution, and announcing that Spansion selected Agile to streamline supply chain collaboration across their global enterprise. Agile also announced that Numico, an industry leader in baby food and clinical nutrition, had selected the Agile Prodika food & beverage solution to streamline its product processes.
Over the course of the quarter, Agile held its regional AGILITY seminar series in Taipei, Taiwan, Shanghai, China, Tokyo, Japan and Paris, France. The multi-country tour attracted hundreds of attendees and featured presentations from PLM industry leaders, Agile partners, and Agile customers, including Arima Communications, Foxlink, Funai Electric Co., Ltd., and SI Solutions Co., Ltd. Agile also held a customer summit in San Jose, which focused on the company's strategy for its Agile e6 product line.
Conference Call Details
Agile will discuss its third quarter results and management's forward looking guidance on a conference call today beginning at 2:00 p.m. Pacific Time. A Web cast of the conference will be available on Agile's Web site at http://www.agile.com/ under the 'Investor Relations' section. 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, together with a reconciliation between the GAAP and non-GAAP 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), stock option review and other investigation costs and gain on sale of investments (non-recurring charges), and restructuring charges. Because of the non-recurring or infrequent nature and/or non-cash nature 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.
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