This is the company in the Bloomberg Video. They interviewed the CEO who pointed out that they had 70 employees, and now have 15. It is remarkable they survived. But they have.
SEDONA Announces Fiscal Year 2006 Operating Results
Fiscal Year 2006 Revenues Increase 96% Over Previous Year
KING OF PRUSSIA, Pa., April 18 /PRNewswire-FirstCall/ -- SEDONA(R)
Corporation (OTC Bulletin Board: SDNA) (
http://www.sedonacorp.com), a
leading provider of Customer and Member Relationship Management (CRM/MRM)
solutions for small and mid-size financial services organizations, today
announced operating results for fiscal year 2006.
Revenues reported for the period ending December 31, 2006 were
$1,415,000, a 96% increase over the $723,000 reported a year ago.
License revenues increased 363% to $577,000, compared to $159,000
reported in fiscal 2005 due to the delivery of new product licenses. Total
services revenue increased 149% to $838,000, compared to $524,000 in the
same period a year ago. The increase is a result of installation, training
and customization services provided to new licensees of Intarsia as well as
additional services provided to our existing customers.
Fourth quarter 2006 revenues increased to $248,000 compared to $139,000
reported in the fourth quarter of 2005 due to the delivery of $91,000 in
new license sales during the quarter.
The Company's gross profit margin increased 13% in fiscal year 2006 to
$1,116,000 or 79% of revenues compared to $475,000 or 66% of revenues,
reported in the same period a year ago. Gross profit increased 17% to
$180,000 or 73% of revenues compared to $78,000 or 56% of fourth quarter
2005 revenues.
Net loss applicable to common stockholders decreased 25% to
($2,372,000) or ($0.03) per share, compared to ($3,164,000) or ($0.04) per
share, reported in fiscal year 2005. In the fourth quarter 2006, net loss
applicable to common stockholders decreased 13% to ($761,000) or ($0.01)
per share compared to ($874,000) or ($0.01) per share reported in the
fourth quarter of 2005.
In fiscal year 2006 and 2005, excluding charges of $237,000 and $7,000
respectively for the expensing of stock options as required by Statement of
Financial Accounting Standard No. 123(R). SEDONA decreased its operating
expenses 13% to $2,607,000 compared to $2,985,000 reported one year ago.
The decrease in expenses is attributable to savings in personnel and
related expenses. In addition, the Company also continued to monitor its
other expenses and attain savings, whenever possible. In the fourth quarter
of 2006 operating expenses, excluding a charge of $43,000 in 2006 for the
expensing of stock options, decreased 10% to $694,000 compared to $762,000
reported in the same period in 2005 again attributable to a decrease in
savings in personnel and related expenses.
At December 31, 2006 the Company reported a revenue backlog of
$538,000, substantially all of which is expected to be realized as revenue
in fiscal year 2007. In addition, SEDONA reported a 421% increase in
current and non-current accounts receivable and associated deferred revenue
for monthly subscription fees from its distribution partners' ASP sales. At
December 31, 2006 deferred revenue increased to $413,000 compared to
$98,000 reported at December 31, 2005. This deferred revenue will be
recognized ratably over the terms of the various contracts.
Fiscal Year 2006 SEDONA Highlights:
-- NAFCU Services Corporation (NSC), a wholly owned subsidiary of the
National Association of Federal Credit Unions (NAFCU), selected SEDONA
as NSC's Preferred Partner for MRM application and services.
-- IntegraSys, a business unit of Fiserv, Inc., that serves more than
1,500 credit unions, selected SEDONA's MRM technologies as the
foundation for its MRM solution.
-- Data Systems of Texas, a Sharetec Systems Provider, selected SEDONA as
its MRM application and services provider.
SEDONA has also achieved significant milestones subsequent to the end
of fiscal year 2006:
-- Entered a reseller agreement with Profit Technologies Corporation,
under which Profit Technologies has the non-exclusive rights to market,
sell, distribute and support Intarsia in order to deliver enhanced CRM
and MRM services to financial institutions.
-- Announced that GBS, a Sharetec Systems provider, had selected SEDONA as
its MRM application and services provider.
-- Announced an international partnership with Haydrian Corporation based
in Bellevue, Washington and with locations across the globe. SEDONA and
Haydrian will create a co-branded version of SEDONA's CRM/MRM
application, Intarsia. Haydrian will immediately begin to market, sell
and support Intarsia to local and regional financial institutions in
the developing countries of the world. Haydrian will also offer
Intarsia integrated with Haydrian's anti-money laundering solution,
XM3.
-- Announced the delivery of the first version of Intarsia for the higher
education market at one of the country's most prestigious universities.
The product is anticipated to be generally available in May 2007.
For more information regarding SEDONA's 2006 results, please refer to
the Company's Form 10-KSB filed with the Securities and Exchange Commission
on April 17, 2006.
About SEDONA Corporation
SEDONA(R) Corporation (OTC Bulletin Board: SDNA) provides
multi-vertical Customer/Member Relationship Management (CRM/MRM) solutions
and services specifically tailored to the small to mid-size financial
services market. SEDONA's CRM/MRM solution, Intarsia(R), is designed and
priced to support and meet the needs of the multiple lines of business of
small-to-midsize banks and credit unions. Intarsia provides the entire
financial services institution with a complete and accurate view of their
customers' and prospects' relationships and interactions. By utilizing
SEDONA's CRM/MRM solution and services, SEDONA's clients effectively
identify, acquire, foster, and retain loyal, profitable customers. For
additional information, visit the SEDONA web site at
http://www.sedonacorp.com or call 1-800-815-3307.
Forward-Looking Statements
Statements made in this news release that relate to future plans,
events or performances are forward-looking statements. Any statement
containing words such as "believes," "anticipates," "plans," or "expects,"
and other statements which are not historical facts contained in this
release are forward-looking, and these statements involve risks and
uncertainties and are based on current expectations. Consequently, actual
results could differ materially from the expectations expressed in these
forward-looking statements.
SEDONA(R) and Intarsia(R) are registered trademarks of SEDONA Corporation.
All other trade names are the property of their respective owners.
This press release and prior releases are available on the
SEDONA Corporation web site at
http://www.sedonacorp.com.