Daegis Inc. (DAEG) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, April 30, 2014

News Release

FOR IMMEDIATE RELEASE

Daegis Inc. Reports Fiscal 2014 Fourth Quarter and
Full Year Results

•   Fourth Quarter GAAP Net Income of $163,000
•   Cash at $7.2 million at April 30, 2014

IRVING, Texas – June 17, 2014 – Daegis Inc. (NASDAQ: DAEG), a global archiving, eDiscovery and software development and migration tools company, today announced financial results for its fiscal 2014 fourth quarter and full year ended April 30, 2014.

Fourth Quarter Fiscal 2014 Financial Highlights

• Fourth quarter total revenue of $7.4 million, compared to $9.8 million year over year.
• Fourth quarter GAAP net income of $163,000 or $0.01 per share, compared to GAAP net income of $188,000 or $0.01 per share for the same period last year.
• Fourth quarter Adjusted EBITDA of $1.6 million, compared to $1.5 million last year and up sequentially from $1.0 million in the third quarter. ⁽¹⁾
• Non-GAAP net income of $1.1 million or $0.07 per share, compared to $610,000 or $0.03 per share last year. ⁽¹⁾
• Cash at April 30, 2014 was $7.2 million, compared to $5.5 million at April 30, 2013.
• Total debt outstanding at April 30, 2014 was $15.0 million, a decrease of $2.7 million from April 30, 2013.

Full Year Fiscal 2014 Financial Highlights

• Total revenue of $31.0 million, compared to $40.2 million last year.
• GAAP net loss of $1.6 million or $0.10 per share, compared to GAAP net income of $532,000 or $0.01 per share in the prior year.
• Adjusted EBITDA of $4.3 million, compared to $6.5 million last year. ⁽¹⁾
• Non-GAAP net income of $1.7 million or $0.10 per share, compared to Non-GAAP net income of $3.2 million or $0.19 per share last year. ⁽¹⁾

Commenting on the results, Daegis Inc. Chief Executive Officer Tim Bacci said, “Daegis accomplished several key objectives in fiscal 2014 to advance its long-term strategy. We successfully aligned archive and eDiscovery into a cohesive, complete solution for information governance and eDiscovery, and launched our new mobile enterprise development solution, TD Mobile. We made decisions to increase the operational efficiency of our business which significantly improved the health of our financials in the fourth quarter. We are excited about our product offerings and opportunities and remain confident that we’ll demonstrate growth in the second half of calendar 2014.”