Unica Corporation (Nasdaq: UNCA), a leading global provider of
enterprise marketing management (EMM) solutions, today announced
preliminary financial results for its second fiscal quarter ended
March 31, 2009.
Based on preliminary financial data, the company currently
expects to report second quarter total revenue in the range of
$22.8 to $23.5 million, compared to $26.1 million in the first
quarter. A majority of the sequential decline in total revenue
relates to perpetual license revenue, which was impacted by a
higher-than-expected mix of subscription-based sales as well as the
challenging economic environment during the quarter.
The company expects to report non-GAAP operating income/(loss)
in the range of $100,000 to $(300,000) and non-GAAP net loss per
diluted share in the range of $0.01 to $0.03. This would represent
an improvement compared to a non-GAAP operating loss of $348,000
and a non-GAAP net loss per diluted share of $0.04 during the first
quarter of fiscal 2009.
Non-GAAP operating income excludes non-cash share-based
compensation expense and amortization of acquired intangibles.
Results are preliminary in nature, and subject to change based on
the completion of the company�s quarter-end close process. A
reconciliation of non-GAAP operating income and non-GAAP earnings
per share to the corresponding GAAP measures is not included in
this press release because the company is still in the process of
reviewing certain items that may impact GAAP results. The GAAP
measures and an update related to our outlook for the remainder of
fiscal year 2009 will be provided with the release of our full
earnings on April 30, 2009.
Unica currently expects to report positive cash flows from
operations for the three months ended March 31, 2009, resulting in
cash, cash equivalents, and short-term investments in excess of
$47.0 million at the end of the second fiscal quarter.
�During the second quarter, the difficult economic environment
continued to impact the timing of IT projects at some of our
customers and prospects, which in turn impacts our revenue
associated with perpetual license deals,� said Yuchun Lee, chief
executive officer of Unica. �On the positive side, we currently
expect to deliver in excess of 40% growth in subscription revenue,
compared to the prior year quarter, as we continue to see high
interest levels and relatively solid demand for our on-demand
solutions. In addition, several transactions involved our
enterprise solutions being deployed on-premise, but they were
closed on a subscription rather than perpetual license basis. Our
flexibility in licensing models provided customers with more
options to move forward with projects immediately, despite the
challenging capital approval process caused by the trying economic
environment.�
Lee added, �This is an example of how Unica can leverage the
diversity of our business model to address customer needs and grow
our subscription revenue, which we expect to be larger than our
perpetual license revenue for the first time in the company�s
history. We continue to be highly confident in Unica�s ability to
weather this economic cycle and in our long-term market leadership
position based on our industry leading technology, large customer
base, and strong balance sheet. �
Kevin Shone, chief financial officer of Unica, said, �We are
pleased with the company�s execution from an expense management
perspective in the quarter, which was a key reason the company was
able to generate positive cash flows from operations and improve
our non-GAAP operating performance despite the sequential decline
in revenue.�
About Unica
Unica Corporation (Nasdaq: UNCA) is a leading global provider of
enterprise marketing management (EMM) software and services. The
most comprehensive EMM suite on the market today, Unica's Affinium�
software streamlines the entire marketing process from analysis and
planning to project management, execution and measurement. More
than 800 companies worldwide depend on Unica for their enterprise
marketing management solution.
Unica is headquartered in Waltham, Mass. with offices around the
globe. For more information, visit www.unica.com.
Note to Editors: Copyright 2009 Unica Corporation. Unica, the
Unica logo, Affinium, MarketingCentral and NetInsight are
registered trademarks of Unica Corporation. All other product
names, service marks, and trademarks mentioned herein are
trademarks of their respective owners.
Forward-looking Statements
The information provided in this press release above contains
forward-looking statements that relate to future events and future
financial performance of Unica. These forward-looking statements
are based upon Unica's historical performance and its current
plans, estimates and expectations and are not a representation that
such plans, estimates, or expectations will be achieved. These
forward-looking statements represent Unica's expectations as of the
date of this press announcement. Subsequent events may cause these
expectations to change; and Unica disclaims any obligation to
update or revise the forward-looking statements in the future.
Matters subject to forward-looking statements involve known and
unknown risks and uncertainties, including those factors listed in
the Company�s Annual Report on Form 10-K for the fiscal year ended
September 30, 2008 under �Risk Factors�, which factors could cause
Unica's performance or achievements to be materially different from
those expressed or implied by the forward-looking statements.
Non-GAAP Financial Measures
Unica has provided in this press release selected preliminary
financial information that has not been prepared in accordance with
GAAP. Unica uses these non-GAAP financial measures internally in
analyzing its financial results and believes they are useful to
investors, as a supplement to GAAP measures, in evaluating Unica's
ongoing operational performance. Unica believes that the use of
these non-GAAP financial measures provides an additional tool for
investors to use in evaluating ongoing operating results and
trends, and in comparing its financial results with other companies
in Unica's industry, many of whom present similar non-GAAP
financial measures to investors. Specifically, on both an historic
and a forward-looking basis, these non-GAAP measures exclude:
-- Expense associated with the write-off of in-process research
and development and amortization of intangible assets related to
acquisitions, as exclusion of these expenses allows comparisons of
operating results that are consistent over time for both the
company's newly acquired and long-held businesses and with both
acquisitive and non-acquisitive peer companies.
-- Expense associated with share-based compensation related to
stock options, the company's employee stock purchase plan and
restricted stock units because, while share-based compensation is a
significant ongoing expense affecting the company's results of
operations, the Company's management excludes share-based
compensation from the company's forecasting and planning process
used to allocate resources. In addition, because of varying
available valuation methodologies, subjective assumptions and the
variety of award types, the company believes that excluding
share-based compensation may enable useful comparisons of the
company's operating results to its competitors' results.
Non-GAAP financial measures should not be considered in
isolation from, or as a substitute for, financial information
prepared in accordance with GAAP.
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