[March 25, 2014]

Jacada Reports 2013 Financial Results

Jacada (News - Alert) Ltd., (NASDAQ: JCDAF) a leading global provider of customer engagement technology designed to simplify customer interactions and drive efficiency across all customer touch points, today reported financial results for the year ended December 31, 2013.

Financial Highlights

• Net income of $118,000 compared to a net loss of $6.4 million in 2012
• Software license revenues reflect a 164% increase over 2012 software license revenues
• Total revenues increased 45% to $15.6 million, compared to $10.8 million in 2012
• Cash and marketable securities were $10.4 million as of December 31, 2013, a $400,000 increase from $10.0 million at December 31, 2012

Recent Business Highlights

• Announced that Jacada has been chosen by a leading aerospace and defense technology company to deliver an Agent Desktop Customer Support solutions for its contact center operations. The Jacada solution will include Jacada Workspace Agent Desktop, Jacada Integration & Automation, Jacada HostFuse, and Jacada Interface Server to provide a unified desktop that ties together the company's CICS mainframe and multiple desktop applications (web and thick client) to provide a complete customer service solution.
• Announced that Jacada will be working with priceline.com, a leader in global online travel reservations, to provide call center scripting technologies for priceline.com's customer service agents.
• Jacada's customer service solutions, including Agent Scripting, Unified Desktop and Visual IVR were accepted into the Avaya (News - Alert) Strategic Partners Program. This program enables the North American and EMEA Avaya sales team and distribution partners to sell the aforementioned Jacada products.
• Jacada partnered with Vocantas (News - Alert) to bring Visual IVR capabilities to the Vocantas suite of products, including Vocantas' Scaller solution for colleges and universities and Vocantas' Utilities OnCall solution for utility companies.

"We are proud to report such a remarkable improvement in our financial results," commented Caroline Cronin, chief financial officer of Jacada. "We achieved a turnaround in all of the leading indicators, including strong revenue growth and an increase in cash and marketable securities. Revenue growth coupled with improved margins, reduced operating expenses, gains on the sale of certain marketable securities and an income tax benefit allowed us to report net income for the first time since the 'Great Recession'."

"Today, consumers demand a 'smart' experience when engaging with their service providers that is as easy and intuitive as using the apps on their Smart Phones. This is driving a fundamental change in how companies interact and design the experience for their consumers that is visually engaging and personalized," said Guy Yair, co-chief executive officer of Jacada. "Jacada is leading the industry towards visual customer engagement with our novel Visual IVR solution that quickly enables companies to engage their customers when and where they demand, all while answering the questions and selling more efficiently than ever before."

Financial Results

Total revenues were $15.6 million compared to $10.8 million in 2012. Software revenues for 2013 were $2.9 million compared to $1.1 million during 2012. Services revenues were $8.9 million in 2013 and $6.9 million in 2012. Maintenance revenues were $3.7 million and $2.8 million in 2013 and 2012, respectively.

Gross margins were 62% and 38% of total revenues during 2013 and 2012, respectively. Operating expenses for 2013 were $10.4 million, compared to $11.3 million in 2012. Financial income, net, was $473,000 and $856,000 in 2013 and 2012, respectively. During 2013, the company had an income tax benefit of $382,000, while in 2012, the company had income tax expense of $55,000.

Net income for 2013 was $118,000 or $0.03 per share compared to a net loss of $6.4 million or ($1.55) per share in 2012.

About Jacada

Jacada solutions improve an organization's customer experiences and reduce their operational costs. Jacada enables them to deliver advanced customer and agent interactions by implementing cutting-edge mobile customer service and visual IVR solutions, simplified agent desktops, and process optimization products. Customers can benefit from an improved customer service experience at every touch point with the organization, whether at the call center, on the mobile, or at the retail store. Jacada projects often deploy in less than six months, and customers often realize a complete return on investment within 12 months of deployment. Founded in 1990, Jacada operates globally with offices in Atlanta, USA; London, England; Munich, Germany; and Herzliya, Israel. For more information, please visit www.Jacada.com. To view a product demonstration video, click here.

This news release may contain forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. The words "may," "could," "would," "will," "believe," "anticipate," "estimate," "expect," "intend," "plan," and similar expressions or variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of the future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the performance and continued acceptance of our products, general economic conditions and other Risk Factors specifically identified in our reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made. Jacada is a trademark of Jacada Inc. All other brands or product names are trademarks of their respective owners.

[ Back To TMCnet.com's Homepage ]