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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 well demonstrate growth in the second half of calendar 2014.
The following information was filed by Daegis Inc. (DAEG) on Wednesday, June 18, 2014 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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