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Qumu Corp (QUMU) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Qumu Corp

CIK: 892482 Ticker: QUMU

EXHIBIT 99.1

(QUMU LOGO)

Qumu Reports Fourth Quarter 2013 Financial Results

Software Contracted Commitments Increased to a Record $9.8 Million
Software Contracted Commitment Backlog Grew to a Record $16.7 Million
Total Revenues of $20.7 Million

Conference Call Today at 4:30 p.m. ET

Minneapolis, MN – February 24, 2014 –

Qumu Corporation (NASDAQ: QUMU) today reported its financial results for the fourth quarter ended December 31, 2013. Software contracted commitments for the quarter set a new record and backlog grew 56% from September 30, 2013. Total revenues for the fourth quarter of 2013 were $20.7 million, virtually flat compared with revenues in the fourth quarter of 2012. Disc publishing revenues grew slightly over the prior year period while Qumu software revenues declined slightly compared with the prior year’s fourth quarter. Cash and marketable securities at December 31, 2013 totaled $51.0 million, an increase of $2.6 million from the balance at September 30, 2013, largely reflecting improved working capital management and a $1.9 million tax refund.

 

 

 

Qumu Software Fourth Quarter Highlights

 

Contracted commitments were a record $9.8 million in the fourth quarter, up $6.0 million compared with $3.8 million in the third quarter of 2013 and up $1.1 million from the fourth quarter of 2012.

 

Backlog of contracted commitments increased to a record $16.7 million at December 31, 2013 from $10.7 million at the end of September 2013.

 

Software revenues declined slightly to $4.2 million in the fourth quarter of 2013, compared with $4.3 million in the fourth quarter of 2012 due to the timing of revenue recognition of contracted commitments.

Sherman L. Black, president and CEO, said, “We continued to demonstrate solid traction in our software business, setting new records in contracted commitments and backlog. Our new customers signed during the fourth quarter come from a cross section of industries including a global financial services institution, a leading e-commerce company, a large health care provider, a national health care insurer, a semiconductor company and a Japanese network solutions provider, which is our first customer based in Japan. Our success in the quarter is a proof point of our product differentiation around secure video delivery, breadth of enterprise integrations, flexible cloud and on-premise deployments, and rich mobile applications.”

 

 

 

Disc Publishing Fourth Quarter Highlights

 

Disc publishing revenues in the fourth quarter of 2013 totaled $16.5 million, slightly higher than the $16.4 million in revenues in fourth quarter of 2012.

 

The increase was the result of an 6% increase in service revenues and a slight increase in hardware sales, partially offset by lower consumables revenue.

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The following information was filed by Qumu Corp (QUMU) on Wednesday, February 26, 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii. Valuation & Qualifying Accounts
Schedule Ii. Valuation & Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders Equity
401 (k) Savings Plan
401 (k) Savings Plan (details)
Acquisition Of Qumu, Inc.
Acquisition Of Qumu, Inc. (tables)
Acquisition Of Qumu, Inc. Narrative (details)
Acquisition Of Qumu, Inc. Preliminary Purchase Accounting Allocation (details)
Acquisition Of Qumu, Inc. Pro Forma Operating Results (details)
Business Segments Information
Business Segments Information / Major Customers (tables)
Business Segments Information / Major Customers Revenue And Operating Income (loss) (details)
Business Segments Information / Major Customers Revenues And Accounts Receivable By Customers (details)
Business Segments Information / Major Customers Revenues And Property, Plant, And Equipment By Region (details)
Business Segments Information / Major Customers Revenues By Products And Services (details)
Component Of Net Income Per Basic And Diluted Share (details)
Consolidation Of Join Venture Entity And Noncontrolling Interest
Consolidation Of Join Venture Entity And Noncontrolling Interest (details)
Consolidation Of Join Venture Entity And Noncontrolling Interest (tables)
Consolidation Of Join Venture Entity And Noncontrolling Interest Schedule (details)
Contingencies
Fair Value Measurements
Fair Value Measurements (details)
Fair Value Measurements (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets Changes In Intangible Assets (details)
Goodwill And Intangible Assets Goodwill And Impairment Losses (details)
Goodwill And Intangible Assets Intangible Assets Future Amortization Expense (details)
Goodwill And Intangible Assets Narrative (details)
Income Taxes
Income Taxes Component Of Income Before Income Taxes (details)
Income Taxes Deferred Tax Assets And Liabilities (details)
Income Taxes Income Tax Expense (benefits) (details)
Income Taxes Income Tax Reconciliation (details)
Income Taxes Income Taxes (tables)
Income Taxes Narrative (details)
Income Taxes Unrecognized Tax Benefits (details)
Inventories
Inventories (tables)
Inventories Schedule Of Inventories (details)
Investment In Software Company
Investment In Software Company (details)
Lease Commitments
Lease Commitments (details)
Lease Commitments Lease Commitments (tables)
Marketable Securities
Marketable Securities (tables)
Marketable Securities Narrative (details)
Marketable Securities Schedule Of Marketable Securities (details)
Nature Of Business And Summary Of Significant Accounting Policies
Nature Of Business And Summary Of Significant Accounting Policies (policies)
Nature Of Business And Summary Of Significant Accounting Policies (tables)
Nature Of Business And Summary Of Significant Accounting Policies Narrative (details)
Nature Of Business And Summary Of Significant Accounting Policies Warranty (details)
Net Income (loss) Per Share
Net Income (loss) Per Share (tables)
Net Income (loss) Per Share Narrative (details)
Property And Equipment
Property And Equipment (tables)
Property And Equipment Narrative (details)
Property And Equipment Schedule Of Property And Equipment (details)
Stock-based Compensation
Stock-based Compensation, Common Stock Repurchases And Dividends (narrative) (details)
Stock-based Compensation, Common Stock Repurchases And Dividends (tables)
Stock-based Compensation, Common Stock Repurchases And Dividends Nonvested Restricted Stocks (details)
Stock-based Compensation, Common Stock Repurchases And Dividends Schedule Of Assumptions - Parenthetical (details)
Stock-based Compensation, Common Stock Repurchases And Dividends Schedule Of Quarterly Dividends (details)
Stock-based Compensation, Common Stock Repurchases And Dividends Schedule Of Repurchase Activity (details)
Stock-based Compensation, Common Stock Repurchases And Dividends Schedule Of Restricted Stock Options (details)
Stock-based Compensation, Common Stock Repurchases And Dividends Schedule Of Share-based Compensation Rollforward (details)
Stock-based Compensation, Common Stock Repurchases And Dividends Schedule Of Share-based Payment Arrangements (details)
Stock-based Compensation, Common Stock Repurchases And Dividends Schedule Of Stock Options (details)
Stockholders' Equity
Stockholders' Equity (details)
Subsequent Events
Supplemental Quarterly Data - Unaudited (in Thousands, Except Per Share Data)
Supplemental Quarterly Data - Unaudited (in Thousands, Except Per Share Data) (details)
Supplemental Quarterly Data - Unaudited (in Thousands, Except Per Share Data) (tables)
Ticker: QUMU
CIK: 892482
Form Type: 10-K Annual Report
Accession Number: 0000892482-14-000003
Submitted to the SEC: Fri Mar 14 2014 3:59:58 PM EST
Accepted by the SEC: Fri Mar 14 2014
Period: Tuesday, December 31, 2013
Industry: Prepackaged Software

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