Agile reports Q3 - Record revenues
Feb 24, 2004
Agile Software Corporation (Nasdaq: AGIL) announced results for the third quarter of fiscal 2004, which ended January 31, 2004. Total revenues for the quarter were a record $26.2 million, compared to $17.9 million for the third quarter of fiscal 2003. License revenues for the third quarter of fiscal 2004 were $9.5 million, compared to $7.3 million for the third quarter of fiscal 2003, an increase of 30%.Non-GAAP net loss, which excludes stock compensation, acquisition related-charges and loss on foreign currency translation, for the third quarter of fiscal 2004 was $972,000, or ($0.02) per share, compared to a non-GAAP net loss of $3.4 million, or ($0.07) per share, which excludes stock compensation and an impairment charge on equity securities, for the third quarter of fiscal 2003. A reconciliation between net loss on a GAAP basis and non-GAAP net loss is provided in a table immediately following the non-GAAP Condensed Consolidated Statements of Operations below.Net loss for the third quarter of fiscal 2004, on a generally accepted accounting principles (GAAP) basis, was $4.0 million, or ($0.08) per share, compared to $5.7 million, or ($0.12) per share for the third quarter of fiscal 2003.Management Commentary"Despite what is historically a tough quarter for Agile, we realized record revenues while holding down expenses and again improving our bottom-line," said Bryan Stolle, Agile chairman and CEO. "At the same time, leveraging our low-cost global development capabilities, we announced the general availability of Agile 9-our most comprehensive product release to date, featuring numerous enhancements and new capabilities across the entire suite of six product categories. We have also completed the integration of our Eigner acquisition across all functional areas, and customers have begun to implement integrated Agile/Eigner solutions. Our customer base continues to expand by industry, with new customers in automotive, industrial products and life sciences. We are also continuing to expand our industry-specific solutions, with the recent release of an industry-specific capability that enables users to conceptualize complex automotive systems-a solution developed in close partnership with several of out Tier 1 automotive supply base customers."Customer Wins and ExpansionsDuring the quarter, the Company added 18 new customers. Organizations that purchased new or additional licenses of Agile's PLM solutions include: Alcatel, Allied Telesyn, AMX, Analogic, Arthrocare, Avail, Avnet, Ballard Power Systems, Bubbendorf, CELLon, Echostar Communications, Elliott Turbomachinery, Harman, Intier Automotive, Invitrogen, Iomega, Lucent, Pathfinder Energy Services, Philips Oral Healthcare, Phoenix, Quanta, Quantum, Reed Hycalog, Rosetta, Sanmina, Shure, Sharp, Siemens, Sparton Electronics, Starsys, Therasense, Tyco and Veritas AG.AwardsIn January, Agile received the Chinese Central Government's Star Award for the Suzhou region, given to companies demonstrating excellence in software development. This award is a tremendous recognition of the outstanding efforts of our team in Suzhou, China.