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Actuate Releases 3rd Quarter 2014 Financial Results [Manufacturing Close - Up](Manufacturing Close - Up Via Acquire Media NewsEdge) Actuate Corp. reported financial results for the third quarter 2014: Third Quarter 2014 Financial and Operational Highlights: -Total non-GAAP revenue of $24.4 million; -Total license revenue of $6.2 million; -Subscription bookings of $1.8 million; -Booked 28 subscription deals; -Non-GAAP operating income of $334,000; -Non-GAAP fully diluted EPS of $0.01; -Total cash and short-term investments of $58.3 million on September 30. "We saw steady progress in the third quarter as we continued our transition to a subscription business," said Pete Cittadini, President and CEO of Actuate. "Actuate has a unique opportunity to combine the growing open-source community of over 3.5 million BIRT developers with our new freemium BIRT iHub F-Type, therefore building the foundation to create ubiquity of the complete BIRT stack for the industry. Since its launch on July 10, F-Type has more than 15,000 downloads and over 6,000 registrations, which has exploded Actuate's online presence and generated new opportunities across a variety of industries." According to a release on November 4, the Company noted that revenues as reported in accordance with U.S. generally accepted accounting principles (GAAP) for the third quarter of 2014 were $24.3 million, compared with $32.3 million in the third quarter of 2013. License revenues for the third quarter of 2014 were $6.2 million, compared with $14.3 million in the third quarter of 2013. Service revenues for the quarter were $18.1 million, compared with $18.0 million reported in the same quarter last year. GAAP operating loss was $3.1 million for the third quarter of 2014, compared with operating income of $1.6 million in the third quarter of 2013. GAAP net loss for the third quarter of 2014 was $2.0 million, or $(0.04) per share, compared with net income of $1.2 million, or $0.02 per diluted share, in the third quarter of 2013. Non-GAAP net income for the third quarter of 2014 was $265,000, or $0.01 per diluted share, compared with non-GAAP net income of $3.6 million, or $0.07 per diluted share in the third quarter of 2013. Cash and short term investments totaled $58.3 million on September 30, down from $59.4 million as of June 30. Third quarter 2014 Business Highlights: -Announced the launch of BIRT iHub F-Type on July 10, new software that provides free access to the features and power of the commercial BIRT iHub enterprise-grade deployment platform, with metered output capacity; -Over 15,000 downloads of BIRT iHub F-Type and over 6,000 registrations since July 10 launch; -Ranked #1 by Dresner Advisory Services in their Embedded Business Intelligence Market Study published October 29; -Phototype, an Actuate customer, was recognized by Ventana Research with an Information Technology Innovation Award for Location Intelligence; -Announced the availability of BIRT PowerDocs for the Salesforce1 Mobile App, helping companies to run their business from their phone; -Announced an alliance with Versiant Corp., a provider of IT professional services and marine terminal solutions support, allowing marine terminal customers to benefit from structured data integration and normalization solutions that promise to increase the effectiveness of their terminal operating systems (TOS); -Announced the availability of BIRT Analytics 4.4 with new background algorithms and foreground functionalities, comprising a complete toolbox of data mining techniques that are fast and easy to use for self-service, advanced analytics; -Record setting number of unique visitors to the new BIRT developer web site (developer.actuate.com), up over 88 percent from a year ago; -Over 130,000 total registrations to date on developer.actuate.com, up 18 percent or approximately 20,000 from a year ago. During the third quarter, Actuate received significant new and repeat business from, among others: BayernInvest Kapitalanalagegesellschaft bmH, CGI Group Inc., Cgi Immobilier Sa, Comerica Bank, Deloitte, Deutsche Bank Trust Company Americas, JobVite, Manhattan Software, Inc., Maryland Procurement Office, Olm Systems, PG&E Corp., Swift & Staley, TASC (Total Administrative Services Corp.), The Dun & Bradstreet Corp., Tripwire Inc., Washington Headquarters Services (WHS) and Wells Fargo Advisors. Actuate provides software to more than 3.5 million BIRT developers and OEMs who build scalable, secure solutions that save time and improve brand experience by delivering personalized analytics and insights to over 200 million of their customers, partners and employees. More information: http://www.actuate.com ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |