Seguridad Mania.com - España y América Latina

SAN MATEO, CA -- (Marketwire) -- 10/25/12 -- Selectica, Inc. (NASDAQ: SLTC), provider of software that accelerates sales cycles and streamlines contract processes, today announced financial results for its second quarter of fiscal 2013, ended September 30, 2012.

"I'm pleased with our accelerated revenue growth; we are now outpacing the market," said Jason Stern, President and CEO at Selectica. "And while revenue was up, we were also able to keep expenses flat for the third successive quarter, leading to a non-GAAP net loss of less than $250,000."

The company's net loss on a GAAP basis was $0.9 million in Q2 FY2013, down 57% compared to Q2 FY2012.

Financial highlights

Selectica delivered the following financial results for the second quarter of fiscal 2013:

• Recurring revenue: Selectica grew recurring revenue from $2.2 million in Q2 FY 2012 to $3.0 million in Q2 FY2013, a year-over-year increase of 36%. Recurring revenue in Q1 FY2013 was $2.6 million.
  
  
• Billings: Billings for Q2 FY2013 were $3.8 million, compared to $3.0 million in Q2 FY2012, a 27% increase year-over-year. Billings were $4.1 million in Q1 FY2013. The company defines billings, a non-GAAP financial measure, as revenue recognized during the period plus the change in deferred revenue from the beginning to the end of the period. Please refer to the financial tables below for a reconciliation of this non-GAAP measure to GAAP.
  
  
• Deferred revenue: In Q2 FY2013, the company had deferred revenue of $5.8 million, a 76% year-over-year increase over Q2 FY2012, when deferred revenue was $3.3 million. In Q1 FY2013, deferred revenue was $6.7 million.
  
  

Business highlights
Business highlights from Q2 FY2013 include:

• Seventh patent issued for Selectica sales configuration technology: Selectica announced its newest patent for the declarative constraint engine that powers Selectica Guided Selling and enables customers to use dynamic, rather than static, components to configure products and services with a large number of options and possible solutions.
• Recognized as an important participant in cloud computing: In JMP Securities' September 24, 2012, report on salesforce.com, titled "CRM: JMP Visits 10 Growth Companies at Dreamforce," Selectica was featured as one of the growth companies in the salesforce.com partner ecosystem.
• New version of Selectica Contract Lifecycle Management (CLM): In July 2012, Selectica released the latest version of its flagship contract lifecycle management (CLM) product, featuring Contract Blueprints, a set of pre-configured, best-practice contract types that enable users to get started with contract management quickly. The release also offered improvements in the product's Microsoft Word integration, eSignature, and audit trail capabilities.
• Introduction of Selectica Guided Selling for Salesforce on the Salesforce AppExchange: Also in July, Selectica announced availability of its configure-price-quote (CPQ) offering Selectica Guided Selling for Salesforce on the Salesforce AppExchange. The application brings the proven benefits of Selectica sales configuration technology to the cloud and makes them available to organizations with revenues of $100 million to several billion dollars.
• Bronze Stevie award winner: Selectica Guided Selling received a Bronze Stevie Award in the "Best New Software Product or Service of the Year, Cloud Application or Service" category of the 10th Annual American Business Awards.

Additional results

Total revenues for Q2 FY2013 were $4.7 million, compared to $3.5 million for Q2 FY2012, a year-over-year increase of 34%. Total revenues were $4.2 million in Q1 FY2013.

Net loss for Q2 FY2013 was $0.9 million, or $(0.32) per share, compared to a net loss of $2.1 million, or $(0.74) per share in Q2 FY2012, and a net loss of $0.7 million, or $(0.25) per share, in Q1 FY2013.

Complete financial results for Q2 FY2013 can be found in the attached financial tables.

About Selectica, Inc.
Selectica, Inc. (NASDAQ: SLTC) develops innovative software that the world's most successful companies rely on to improve the effectiveness of their sales and contracting processes. Our guided selling, sales configuration, and contract lifecycle management solutions support the Global 2000 and growing mid-size firms in closing billions of dollars' worth of business each year. Our patented technology, delivered through the cloud, makes it easy for customers in industries like high-tech, telecommunications, manufacturing, healthcare, financial services, and government contracting to overcome product and channel complexity, increase deal value, and accelerate time to revenue.

For more information:

• Visit the Selectica website to learn more about the company and its products and customers (http://www.selectica.com)
• Follow @Selectica_Inc on Twitter to stay up to date with industry news and updates (http://twitter.com/Selectica_Inc)
• Visit "Done Deal," the Selectica blog, to read articles, advice, and commentary on how to optimize deal processes (http://www.selectica.com/blog)
• Watch Selectica videos on YouTube to see what Selectica and its products can do (http://www.youtube.com/user/SelecticaVideos)
• Browse the Selectica resource center to find guides and resources on how to improve sales and contracting processes (http://www.selectica.com/resources)

Non-GAAP financial measures
Selectica provides quarterly and annual financial statements that are prepared in accordance with generally accepted accounting principles (GAAP). To help understand the company's past financial performance and future results, the company is providing non-GAAP financial measures to supplement the financial results that it provides in accordance with GAAP. The method the company uses to produce non-GAAP financial results is not computed according to GAAP and may differ from the methods used by other companies.

Forward-looking statements
Certain statements in this release and elsewhere by Selectica are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements regarding business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to the on-going global recession; fluctuations in demand for Selectica's products and services; government policies and regulations, including, but not limited to those affecting the company's industry; and risks related to the company's past stock granting policies and related restatement of financial statements. Selectica undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional risk factors concerning the company can be found in the company's most recent Form 10-K, filed by the company with the Securities and Exchange Commission.

                              SELECTICA, INC.
              Condensed Consolidated Statements of Operations
                  (In thousands, except per share amounts)
                                (Unaudited)


                      Three Months Ended             Six Months Ended
                 ----------------------------  ----------------------------
                 September 30,  September 30,  September 30,  September 30,
                      2012           2011           2012           2011
                 -------------  -------------  -------------  -------------

Revenues:
  Recurring
   revenues      $       2,960  $       2,162  $       5,596  $       4,335
  Non-recurring
   revenues              1,695          1,370          3,235          2,950
                 -------------  -------------  -------------  -------------
    Total
     revenues            4,655          3,532          8,831          7,285
                 -------------  -------------  -------------  -------------

Cost of revenues:
  Recurring cost
   of revenues             407            257            738            512
  Non-recurring
   cost of
   revenues              1,347          1,278          2,574          2,316
                 -------------  -------------  -------------  -------------
    Total cost of
     revenues            1,754          1,535          3,312          2,828
                 -------------  -------------  -------------  -------------

Gross profit:
  Recurring gross
   profit                2,553          1,905          4,858          3,823
  Non-recurring
   gross profit            348             92            661            634
                 -------------  -------------  -------------  -------------
    Total gross
     profit              2,901          1,997          5,519          4,457
                 -------------  -------------  -------------  -------------

Operating
 expenses:
  Research and
   development             861            810          1,792          1,706
  Sales and
   marketing             1,726          1,415          3,245          2,594
  General and
   administrative          698            843          1,568          1,774
  Fees related to
   comprehensive
   settlement
   agreement               500            500            500            500
                 -------------  -------------  -------------  -------------
    Total
     operating
     expenses            3,785          3,568          7,105          6,574
                 -------------  -------------  -------------  -------------

Loss from
 operations               (884)        (1,571)        (1,586)        (2,117)

Loss on early
 extinguishment
 of note payable             -            470              -            470
Interest and
 other income
 (expense), net             (5)           (38)           (12)           (88)
                 -------------  -------------  -------------  -------------

Net loss         $        (889) $      (2,079) $      (1,598) $      (2,675)
                 =============  =============  =============  =============

Basic and diluted
 net loss per
 share           $       (0.32) $       (0.74) $       (0.57) $       (0.95)
                 =============  =============  =============  =============

Reconciliation to
 non-GAAP net
 loss:
Net loss         $        (889) $      (2,079) $      (1,598) $      (2,675)
Stock-based
 compensation
 expense         $         153  $         179  $         361  $         288
Loss on early
 extinguishment
 of note payable             -            470              -            470
Fees related to
 comprehensive
 settlement
 agreement                 500            500            500            500
                 -------------  -------------  -------------  -------------
Non-GAAP net
loss             $        (236) $        (930) $        (737) $      (1,417)
                 =============  =============  =============  =============

                 -------------  -------------  -------------  -------------
Non-GAAP basic
 and diluted net
 loss per share  $       (0.08) $       (0.33) $       (0.26) $       (0.50)
                 =============  =============  =============  =============


Weighted average
 shares
 outstanding for
 basic and
 diluted net loss
 per share               2,818          2,820          2,815          2,826
                 =============  =============  =============  =============



                               SELECTICA, INC.
                    Condensed Consolidated Balance Sheets
                               (In thousands)
                                 (Unaudited)


                                                September 30,    March 31,
                                                    2012           2012
                                               -------------- --------------

ASSETS
Current assets
  Cash and cash equivalents                    $       12,052 $       15,877
  Short-term investments                                    -            199
  Accounts receivable                                   3,682          2,446
  Prepaid expenses and other current assets               512            531
                                               -------------- --------------
    Total current assets                               16,246         19,053

Property and equipment, net                               368            362
Other assets                                               39             39
                                               -------------- --------------
    Total assets                               $       16,653 $       19,454
                                               ============== ==============


LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
  Credit facility                              $        6,000 $        6,000
  Accounts payable                                        876            395
  Accrued payroll and related liabilities                 739          1,771
  Other accrued liabilities                                87             88
  Deferred revenue                                      4,811          5,394
                                               -------------- --------------
    Total current liabilities                          12,513         13,648
                                               -------------- --------------
  Long-term deferred revenue                              964          1,327
  Other long-term liabilities                              33             41
                                               -------------- --------------
    Total liabilities                                  13,510         15,016
                                               -------------- --------------

Stockholders' equity                                    3,143          4,438
                                               -------------- --------------
    Total liabilities and stockholders' equity $       16,653 $       19,454
                                               ============== ==============



                              SELECTICA, INC.
              Condensed Consolidated Statements of Cash Flows
                               (In thousands)
                                (Unaudited)


                                                    Six Months Ended
                                             ------------------------------
                                              September 30,   September 30,
                                                  2012            2011
                                             --------------  --------------

Operating activities
Net loss                                     $       (1,598) $       (2,675)
Adjustments to reconcile net loss to net
 cash used in operating activities:
Depreciation                                            101             139
Loss on disposition of property and
 equipment                                                -               1
Stock-based compensation expense                        361             288
Changes in assets and liabilities:
  Accounts receivable (net)                          (1,236)            987
  Prepaid expenses and other current assets              19              50
  Other assets                                            -             (39)
  Accounts payable                                      481            (315)
  Accrued payroll and related liabilities            (1,031)            321
  Other accrued liabilities and long term
   liabilities                                           (9)           (243)
  Deferred revenues                                    (946)           (793)
                                             --------------  --------------
Net cash used in operating activities        $       (3,858) $       (2,279)

Investing activities
  Purchase of capital assets                           (107)            (98)
  Proceeds from maturities of short-term
   investments                                          199          (1,398)
                                             --------------  --------------
Net cash provided by (used in) investing
 activities                                  $           92  $       (1,496)

Financing activities
  Payments on note payable to Versata                     -          (4,268)
  Purchase of treasury shares                             -            (472)
  Borrowings under credit facility                        -           4,713
  Repurchases of common stock, net of
   issuance                                             (59)             (7)
                                             --------------  --------------
Net cash used in financing activities        $          (59) $          (34)

Net decrease in cash and cash equivalents            (3,825)         (3,809)
Cash and cash equivalents at beginning of
 the period                                          15,877          16,822
                                             --------------  --------------
Cash and cash equivalents at end of the
 period                                      $       12,052  $       13,013
                                             ==============  ==============



                              SELECTICA, INC.
                          Billings Reconciliation
                               (In thousands)
                                (Unaudited)


                      Three Months Ended             Six Months Ended
                 ----------------------------  ----------------------------
                 September 30,  September 30,  September 30,  September 30,
                      2012           2011           2012           2011
                 -------------  -------------  -------------  -------------

Total revenues   $       4,655  $       3,532  $       8,831  $       7,285
Deferred
 revenue:
End of period            5,775          3,337          5,775          3,337
Beginning of
 period                  6,664          3,857          6,721          4,320
                 -------------  -------------  -------------  -------------
Change in
 deferred
 revenue                  (889)          (520)          (946)          (983)
                 -------------  -------------  -------------  -------------
Total billings
 (total revenues
 plus the change
 in deferred
 revenue)        $       3,766  $       3,012  $       7,885  $       6,302
                 =============  =============  =============  =============