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Bridgeline Software, Inc. (BLIN) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, September 30, 2009

Bridgeline Digital, Inc.

CIK: 1378590 Ticker: BLIN
EXHIBIT 99.1
 
Logo   Interactive Business Technology Solutions
 
FOR IMMEDIATE RELEASE

 
Bridgeline Software Reports Financial
Results for the Third Quarter of Fiscal 2009
 
Q309 year over year net income grows 166%, customer
base grows 29%, and recurring revenue grows 19%

Woburn, MA, August 11, 2009
- Bridgeline Software, Inc. (NASDAQ: BLSW), a developer of SaaS-based web application management software and award-winning interactive business technology solutions, today announced results for its third fiscal quarter and record results for the nine months ended June 30, 2009.

Highlights from the third quarter of fiscal 2009 include:
 
 
·  
Revenue of $6,004,000 for the quarter ended June 30, 2009, representing a 5% increase over revenue of $5,700,000 for the same quarter one year ago.   Recurring revenue grew by 19% in Q309 when compared to Q308.

 
·  
Customer base increased to 693 customers, a 29% increase from 539 customers a year ago. Approximately 456 of the Company’s customers, or 66%, pay Bridgeline Software a monthly subscription fee or a monthly managed service fee.

 
·  
Net income for the quarter ended June 30, 2009 was $178,000, representing a 166% increase over net income of $67,000 for the same quarter one year ago.  This represents net income of $0.02 per diluted share versus net income of $0.01 per diluted share a year ago.

 
·  
EBITDA (earnings before interest, taxes, depreciation, and amortization) before stock compensation was $768,000 for the quarter ended June 30, 2009 compared with EBITDA of $584,000 for the same three month period one year earlier, representing a 32% increase. This represents $0.07 per diluted share of EBITDA, consistent with $0.06 per diluted share of EBITDA a year ago.

 
·  
Balance sheet remains strong with a current ratio of 1.6 to 1. At June 30, 2009 Bridgeline Software had over $24.5 million in total assets and $5 million in total liabilities.

Highlights from the first nine months of fiscal 2009 include:

 
·  
Revenue for the nine months ended June 30, 2009 was $18,576,000, representing a 21% increase over revenue of $15,301,000 for the same period in 2008.

 
·  
Net income for the nine months ended June 30, 2009 increased 160% to $561,000, as compared to $216,000 of net income from the same period one year earlier. This


The following information was filed by Bridgeline Digital, Inc. (BLIN) on Thursday, August 13, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Bridgeline Digital, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2009 10-K Annual Report includes:

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SEC Filing Tools
Ticker: BLIN
CIK: 1378590
Form Type: 10-K Annual Report
Accession Number: 0001072613-09-001611
Submitted to the SEC: Tue Dec 29 2009 5:17:26 PM EST
Accepted by the SEC: Tue Dec 29 2009
Period: Wednesday, September 30, 2009
Industry: Prepackaged Software

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