Astea Reports First Quarter 2013 Results
HORSHAM, Pa., May 10, 2013
HORSHAM, Pa., May 10, 2013 /PRNewswire/ --Astea International Inc. (NASDAQ:
ATEA), a global provider of service lifecycle management and mobility
solutions, today announced financial results for the first quarter ended March
For the quarter ended March 31, 2013, Astea reported revenues of $4.7 million
compared to revenues of $6.5 million for the same period in 2012. Net loss
for the first quarter was $1.1 million or ($0.31) per share, compared to a net
loss of $0.7 million or ($0.20) per share for the same period in
2012.Software license revenues were $0.5 million compared to $0.2 million for
the same period in 2012.Service and maintenance revenues were $4.2 million
when compared to revenues of $6.3 million for the same period in 2012.
"There continues to be strong interest for our service management solution
suite, with mobility being a major component in every opportunity. The
extended sales cycles, that are inherent in enterprise opportunities, resulted
in disappointing license sales during the first quarter. We successfully
signed a number of subscription-based license deals during this quarter.
However, due to the pertinent revenue recognition rules we were not able to
recognize any revenue on these deals. This had a negative impact on our
reported results, even though we added new customers with new users. We do
expect an increase in license revenues in the second quarter given the current
state of active opportunities," stated Zack Bergreen, CEO of Astea
International. "We are extremely pleased to see the healthy adoption rate of
our cloud offerings, with the number of users increasing by 587% compared to
last quarter. Monthly contracted recurring revenue increased 245% from last
quarter. Last year at this time, we did not have any cloud subscribers.
Even with the significant interest in on our cloud solution, our on-premise
pipeline opportunities remain strong. We continue to see significant demand
for both our cloud and on-premise solutions with companies of all sizes."
Mr. Bergreen further stated, "During the first quarter, we issued a
significant announcement regarding our partnership with Capgemini, and we are
seeing a significant uptick in sales activity as a result of this partnership.
We also successfully achieved the Microsoft Gold Independent Software Vendor
(ISV) Competency, which confirms that we have demonstrated superior levels of
successful implementations, capabilities and certifications. Microsoft
GoldISV Partners are required to meet rigorous requirements for certification
and expertise. I am very proud of our team for achieving this prestigious
Mr. Bergreen concluded, "We remain focused on aggressively expanding our
partner ecosystem as well as geographic footprint as part of our growth
strategy for 2013. We had many customers successfully go live this quarter
with a combination of both new implementations as well as upgrades to existing
deployments. Additionally, many customers who are in the process of
implementing Astea software are expected to generate additional license sales
after they go live. It is this visibility that allows us to look for continued
progress as we move forward through 2013."
Astea will host a conference call that will be broadcast live over the
Internet on May 10, 2013 at 4:30pm ET to discuss the Company's first quarter
financial results. Investors can access the call from the Company's Web site
at http://www.astea.com/about_investors.asp. To listen to the live call via
the telephone, please call 1-800-862-9098. For calls from outside North
America, please dial 1-785-424-1051. For those who cannot listen to the live
broadcast, a replay will be available shortly after the call.
About Astea International
Astea International (NASDAQ: ATEA) is a global provider of software solutions
that offer all the cornerstones of service lifecycle management, including
customer management, service management, asset management, forward and reverse
logistics management and mobile workforce management and optimization. Astea's
solutions link processes, people, parts, and data to empower companies and
provide the agility they need to achieve sustainable value in less time, and
successfully compete in a global economy. Since 1979, Astea has been helping
more than 600 companies drive even higher levels of customer satisfaction with
faster response times and proactive communication, creating a seamless,
consistent and highly personalized experience at every customer relationship
www.astea.com. Service Smart. Enterprise Proven.
© 2013 ASTEA INTERNATIONAL INC. ASTEA AND ASTEA ALLIANCE ARE TRADEMARKS OF
ASTEA INTERNATIONAL INC. ALL OTHER COMPANY AND PRODUCT NAMES CONTAINED HEREIN
ARE TRADEMARKS OF THE RESPECTIVE HOLDERS.
Statements in this press release, other than statements of historical
information, are forward-looking statements that are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks which may cause the
Company's actual results in future periods to differ materially from expected
results. Those risks include, among others, risks associated with increased
competition, customer decisions, the successful completion of continuing
development of new products, the successful negotiations, execution and
implementation of anticipated new software contracts, the successful addition
of personnel in technical areas, our ability to complete development and sell
and license our products at prices which result in sufficient revenues to
realize profits and other business factors beyond the Company's control. These
and other risks are described in the Company's filings with the Securities and
Exchange Commission (SEC), including but not limited to the Company's Annual
Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.
SOURCE Astea International Inc.
Contact: Investor Relations - Rick Etskovitz, Chief Financial Officer, Astea
International Inc., 215-682-2500, email@example.com
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