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Astea Reports First Quarter 2015 ResultsHORSHAM, Pa., May 15, 2015 /PRNewswire/ -- Astea International Inc. (OTCQB: ATEA), a global provider of service management and mobile workforce solutions, today announced financial results for the quarter ended March 31, 2015. For the quarter ended March 31, 2015, Astea reported revenues of $5.9 million compared to revenues of $4.8 million for the same period in 2014. Net loss for the first quarter was $0.8 million or ($0.26) per share, compared to a net loss of $1.3 million or ($0.37) per share for the same period in 2014. Software license revenues were $1.1 million, compared to $0.5 million for the same period in 2014. Subscription revenues were $0.3 million compared to $0.1 million for the same period in 2014. Service and maintenance revenues were $4.5 million compared to revenues of $4.3 million for the same period in 2014. Adjusted EBITDA was $0.4 million for the quarter ended March 31, 2015 compared to ($0.5 million) for the same period in 2014. This measure eliminates the variation in operating results that occur from accounting rules related to the deferral of hosting and implementation fees on hosted customers as well as the rules related to the capitalization and amortization of development costs. Deferred revenues related to hosting increased $534,000 from last quarter. The details of Adjusted EBITDA are reported in the financial tables below. "This quarter we attained an impressive set of new customers, generated from both our direct and indirect channels. We are very happy to see the positive impact that our strategic efforts have delivered to date. Some of our notable new customers include a leading provider of medical device equipment, in Germany, who will be deploying Astea's end-to-end solution suite; a premier service provider for power generation equipment, in North America, will be leveraging our cloud solution to transform their service operations; an Australian division of a Fortune 500 imaging and optical manufacturing company selected the Astea Alliance service management on premise platform; an Austrian provider of access management solutions will be leveraging Astea's robust and comprehensive cloud solution suite initially deploying in one geography with further expansion to many more countries; a leading IT services company in France selected Astea's service suite to reduce costs and improve customer satisfaction; and a leading provider of process control solutions in North America selected Astea to standardize service and improve productivity," stated Zack Bergreen, CEO of Astea International. "Additionally, our existing customers continued to significantly expand their deployments. This speaks volumes in regards to our unique combination of product, people, and proven ability to help our customers drive quantifiable results for their service operations." "In February, we announced the availability of Astea Alliance 12.0, delivering a significant number of noteworthy innovations that will help companies accelerate response times, improve overall customer experience, and gain instant access to actionable intelligence. We remain relentless in the pursuit of providing powerful capabilities to the mobile user without adding complexity to the user experience. This release continued to build upon that philosophy with optimized user navigation; visualization tools to easily support self-dispatch; live chat to instantly connect technicians with experts; centralized parts order status view; support for Windows Phone; and much more," stated Mr. Bergreen. "Our ongoing commitment to innovation was also reaffirmed by Astea successfully achieving the Microsoft Gold Independent Software Vendor (ISV) Competency for the tenth consecutive year. This achievement demonstrates our "best-in-class" ability and commitment to meet our customers' evolving needs in today's dynamic business environment and distinguishing ourselves within the top 1 percent of Microsoft's partner ecosystem." Outlook Astea will host a conference call that will be broadcast live over the Internet on May 15, 2015 at 4:30pm ET to discuss the Company's first quarter financial results. Investors can access the call from the Company's Web site at http://www.astea.com/en/About-Us/Investors/page.aspx. To listen to the live call via the telephone, please call 1-800-862-9098. For calls from outside North America, please dial 1-785-424-1051. For those who cannot listen to the live broadcast, a replay will be available shortly after the call. About Astea International www.astea.com. Service Smart. Enterprise Proven. © 2015 Astea International Inc. Astea and Astea Alliance are trademarks of Astea International Inc. All other company and product names contained herein are trademarks of the respective holders. Forward-looking Statements Use of Non-GAAP Financial Results Financial Tables Follow
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/astea-reports-first-quarter-2015-results-300084278.html SOURCE Astea International Inc. |