CollabRx Reports Q3 Fiscal Year 2013 Financial Results

CollabRx Reports Q3 Fiscal Year 2013 Financial Results

SAN FRANCISCO, Feb. 12, 2013 (GLOBE NEWSWIRE) -- CollabRx, Inc. (the
"Company") (Nasdaq:CLRX) today announced financial results for the Third
Quarter Fiscal Year 2013, which ended December 31, 2012.

Fiscal 2013 Second Quarter Financial Statement Highlights

  *The Company's Net Loss per share in the Third Quarter of Fiscal 2013 was
    $(0.61), compared with Net Income per share of $1.35 in the Third Quarter
    of the prior fiscal year and Net Loss per share of $(0.68) in the Second
    Quarter of Fiscal Year 2013.
    
  *CollabRx recorded a Net Loss of $(1.15) million in the Third Quarter of
    Fiscal Year 2013, compared with Net Profit of $2.27 million in the Third
    Quarter of the prior fiscal year and Net Loss of $(1.28 million) in the
    Second Quarter of Fiscal Year 2013.
    
  *Operating Expenses totaled $1.28 million for the three months ended
    December 31, 2012 and included a full quarter of the expenses of the
    merged company.
    
  *CollabRx ended the Third Quarter of Fiscal Year 2013 with approximately
    $5.1 million in cash.

Business Highlights

  *Under the terms of a multi-year partnership agreement with Life
    Technologies Corporation (Nasdaq:LIFE), CollabRx initiated activities
    during the Fiscal Third Quarter related to the development and
    commercialization of CollabRx technology and content resources to be used
    in conjunction with Life Technologies'global cancer diagnostics
    development and its laboratory developed test services business.
    
  *CollabRx introduced a second-generation Lung Cancer Therapy Finder
    App,which is available to 96% of all U.S. oncologists via the "Oncology
    Next" portion of MedPage Today, a property of Everyday Health.CollabRx
    subsequently announced an enhancement of the app on February 7,
    2013.CollabRx receives license fees and a portion of sponsorship revenue
    associated with the "Oncology Next" webpage.
    
  *The Third Quarter of Fiscal 2013 marked the completion of the transition
    of the Company from the former Tegal Corporation to CollabRx, Inc., a data
    analytics company that uses cloud-based expert systems to inform
    healthcare decision-making. The Company consolidated operations from
    Petaluma, CA, and Palo Alto, CA, and completed its relocation into new
    headquarters in San Francisco, CA.

CollabRx noted that its acquired operation was a development-stage company and
that its stock began trading on Nasdaq under the symbol CLRX, on September 27,
2012 – two trading days before the beginning of the Third Quarter of Fiscal
2013.The financial report for the fiscal third quarter includes one-time
launch activities for the newly public CollabRx.CollabRx entered its
commercialization stage in the current Fourth Quarter of Fiscal 2013.

Business Outlook

In the current Fourth Quarter of Fiscal 2013, CollabRx expects to begin
recognizing revenue related to software development as part of its agreement
with Life Technologies.

CollabRx expects quarterly cash operating expenses to continue to be in the
range of $750,000 to $1 million.However, the company expects its operating
expenses in near-term quarters to be materially offset by revenue both from
agreements with its current partners and customers, as well as new agreements
that it expects to sign during Fiscal 2014.CollabRx believes that it could
reach cash break-even upon completion of one or more agreements in the
company's new-business pipeline.

"We are confident that, in Calendar 2013, we can establish a demonstrable
trajectory to becoming a technology, content and market leader in the data
analytics space in health care, covering a breadth of disease states in
genomic medicine, with a depth of analytic and data management capabilities,"
said Chairman and Chief Executive Officer Thomas Mika."We are advancing our
engagements with Everyday Health and Life Technologies, and our Therapy Finder
apps are becoming increasingly available to greater numbers of cancer
patients.We are proud to have such a meaningful impact on the treatment of
cancer.We believe that our expanding pipeline of additional strategic
partnerships can bring CollabRx solutions to even more patients, physicians
and clinicians, beginning in Calendar 2013."

Investor Conference Call Today at 5 p.m. EST (2 p.m. PST)

CollabRx will hold an investor conference call today to discuss the Company's
financial results for the third quarter of fiscal 2013 and to provide an
update to the business.

The dial-in number for the live audio call beginning today at 5 p.m. EST (2
p.m. PST) is 877-369-6591 in the U.S. and 253-237-1176 for international
participants.The conference identification number is 97663524.A live webcast
of the conference call and a webcast replay (available for one year following
the call) will also be available at:

http://investor.shareholder.com/media/eventdetail.cfm?eventid=125215&CompanyID=AMDA-1MQZB1&e=1&mediaKey=B72F44BB3E6E439488C570745B377AD3.

About CollabRx

CollabRx, Inc. (Nasdaq:CLRX) is a leader in cloud-based expert systems to
inform health care decision-making. CollabRx uses information technology to
aggregate and contextualize the world's knowledge on genomics-based medicine
with specific insights from the nation's top cancer experts starting with the
area of greatest need: advanced cancers in patients who have effectively
exhausted the standard of care. More information may be obtained at
http://www.collabrx.com.

The CollabRx, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=16990

CollabRx Safe Harbor Statement

This press release includes forward-looking statements about CollabRx's
anticipated results that involve risks and uncertainties. Some of the
information contained in this press release, including, but not limited to,
statements as to industry trends and CollabRx's plans, objectives,
expectations and strategy for its business, contains forward-looking
statements that are subject to risks and uncertainties that could cause actual
results or events to differ materially from those expressed or implied by such
forward-looking statements. Any statements that are not statements of
historical fact are forward-looking statements. When used, the words
"believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and
the like, and/or future tense or conditional constructions ("will," "may,"
"could," "should," etc.), or similar expressions, identify certain of these
forward-looking statements. Important factors which could cause actual results
to differ materially from those in the forward-looking statements are detailed
in filings made by CollabRx with the Securities and Exchange Commission.
CollabRx undertakes no obligation to update or revise any such forward-looking
statements to reflect subsequent events or circumstances.

COLLABRX, INC. AND SUBSIDIARIES
(formerly TEGAL CORPORATION)
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands, except per share data)
                                                                  
                                                      December 31, March 31,
                                                      2012         2012*
ASSETS                                                             
Current assets:                                                    
Cash and cash equivalents                              $5,073     $7,820
Prepaid expenses and other current assets             149         56
Other assets of discontinued operations                11          418
Total current assets                                  5,233       8,294
Property and equipment, net                            119         56
Intangible assets, net                                 1,568       -
Goodwill                                               603         -
Investment in convertible promissory note              337         312
Total assets                                          $7,860     $8,662
LIABILITIES AND STOCKHOLDERS' EQUITY                               
Current liabilities:                                               
Accounts payable                                      $51        $1
Promissory note                                       500         -
Common stock warrant liability                         16          19
Accrued expenses and other current liabilities        261         316
Liabilities of discontinued operations                 16          246
Total current liabilities                             844         582
Deferred tax liability                                 612         -
Total liabilities                                      1,456       582
                                                                  
Stockholders' equity:                                              
Preferred stock, $0.01 par value; 5,000,000 shares     -          -
authorized; none issued and outstanding
Common stock, $0.01 par value; 50,000,000 shares
authorized;1,925,240 and 1,688,807 shares issued and  19          17
outstanding at December 31, 2012 and March 31, 2012,
respectively
Additional paid-in capital                            130,489     129,052
Accumulated other comprehensive loss                   (142)       (142)
Accumulated deficit                                   (123,962)   (120,847)
Total stockholders' equity                            6,404       8,080
Total liabilities and stockholders' equity            $7,860     $8,662
                                                                  
* Derived from the Company's audited consolidated financial statements.


COLLABRX, INC. AND SUBSIDIARIES
(formerly TEGAL CORPORATION)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
and OTHER COMPREHENSIVE INCOME
(Unaudited)
(In thousands, except per share data)
                                                                 
                                    Three Months Ended   Nine Months Ended
                                    December 31,         December 31,
                                    2012       2011      2012       2011
                                                                 
Revenue                             $-      $-     $50      $-
Revenue - related party              25        38       75        75
Total revenue                        25        38       125       75
Cost of revenue                     18        --       38        --
Gross profit                         7         38       87        75
Operating expenses:                                               
Engineering                          --        --       328       --
Research and development            285       --       285       --
Sales and marketing expenses        127       ---       176       --
General and administrative expenses 864       432      2,546     1,873
Total operating expenses            1,276     432      3,335     1,873
Operating loss                       (1,269)   (394)    (3,248)   (1,798)
Equity in loss of unconsolidated     --         (181)     --         (501)
affiliate
Other income (expense), net         9          (8)      29         6
Loss before income tax benefit       (1,260)    (583)     (3,219)    (2,293)
Income tax benefit                   (52)      --        (52)      --
Loss from continuing operations      (1,208)   (583)    (3,167)   (2,293)
Income from discontinued operations, 56         2,852    52         3,091
net of taxes
Net (loss) income and comprehensive  $(1,152) $2,269  $(3,115) $798
(loss) income
                                                                 
Net loss per share from continuing                                
operations:
Basic and diluted                    $(0.64)  $(0.34) $(1.76)  $(1.36)
Net income per share from                                         
discontinued operations:
Basic and diluted                    $0.03    $1.69   $0.03    $1.83
Net (loss) income per share:                                      
Basic and diluted                    $(0.61)  $1.35   $(1.73)  $0.47
                                                                 
Weighted-average shares used in per                               
share computation:
Basic and diluted                    1,884     1,689    1,798     1,689

CONTACT: CollabRx Contacts:
         Thomas R. Mika, Chairman and CEO
         CollabRx, Inc.
         415-248-5350
        
         Robert Ferri Partners, LLC
         Robert Ferri
         (415) 575-1589 (direct)
         robert.ferri@robertferri.com

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