CONTACT: Todd, Luke - Xura, Inc.
(781) 213-2131
Luke.Todd@Xura.com
Xura Provides Preliminary Unaudited
Fourth Quarter and Year End 2015 Results;
Discloses Exclusive Negotiations of a Potential Sale for $25 per Share;
Postpones Earnings Release and Conference Call

WAKEFIELD, MA, April 15, 2016 - Xura, Inc. (“Xura”; NASDAQ: MESG) today announced its preliminary estimated unaudited results for the fourth fiscal quarter and fiscal year ended January 31, 2016 and disclosed that its management is engaged in negotiations for the potential sale of the company. The company also announced that it has postponed the release of its financial results for the three months and year ended January 31, 2016. The company expects to release its financial results and file its annual report on Form 10-K by May 2, 2016. The company will issue a subsequent update announcing a rescheduled date for the release and conference call.
Preliminary Consolidated Highlights: Below is selected preliminary unaudited consolidated financial information for the fiscal quarters and fiscal years ended January 31, 2016 and 2015, prepared in accordance with generally accepted accounting principles (“GAAP”), except as noted.
(In millions, unaudited) (1)
Three Months Ended January 31,
 
Fiscal Year Ended January 31,
 
2016
 
2015 (3)
 
2016 (3)
 
2015 (3)
Total revenue
$
82

 
$
64

 
$
271

 
$
269

Total costs and expenses
90

 
71

 
337

 
333

Loss from operations
(8
)
 
(7
)
 
(66
)
 
(64
)
Expense adjustments
19

 
7

 
65

 
27

Depreciation
3

 
4

 
14

 
14

Adjusted EBITDA (2)
$
14

 
$
4

 
$
13

 
$
(23
)
 
 
 
 
 
 
 
 
Operating margin
(10
)%
 
(11
)%
 
(24
)%
 
(24
)%
 
 
 
 
 
 
 
 
Adjusted EBITDA (2) margin
17
 %
 
6
 %
 
5
 %
 
(9
)%
(1) Percentages and amounts may not calculate due to rounding differences.
(2) "Adjusted EBITDA" is a non-GAAP financial measure which is calculated without giving effect to any adjustments from US GAAP to IFRS.
(3) Includes approximately $7.9 million, $11 million and $32 million in BSS Reseller Revenue for the three months ended January 31, 2015 and for the fiscal years ended January 31, 2016 and 2015, respectively. BSS Reseller Revenue for the fiscal year ended January 31, 2016 were recognized in the first and second quarters. BSS Reseller Revenue means revenue related to contracts associated with the BSS business where the rights to those contracts have not been fully transferred to Amdocs.

As of January 31, 2016, Xura had cash and cash equivalents (including restricted cash) of approximately $170 million.

"Although revenue from Digital Communications solutions generated from legacy Comverse customers ended the fiscal year at $197 million which is well ahead of our expected mid-point revenue range of $180 million, we experienced weakness in monetization and enterprise as well as delays in Digital Communications revenue from legacy Acision customers, primarily in Latin America. While we firmly believe in the strategic importance of Acision to Xura, we continue to focus on maximizing stockholder value and are currently engaged in exclusive strategic negotiations for the potential sale of the company to a third party at a purchase price of $25 per share.” said Philippe Tartavull, President and Chief Executive Officer, Xura, Inc.
“Our year end filing and earnings call are being delayed for us to finalize our financial statements, including our accounting for income taxes. The delay is largely attributable to complex strategic negotiations for the potential sale of the company. We continue to work toward filing our Form 10-K by May 2, 2016,” continued Mr. Tartavull.




The following information was filed by Xura, Inc. (MESG) on Friday, April 15, 2016 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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