Accrue Software Announces Q1 Earnings for Fiscal Year 2000.FREMONT, Calif.--(BUSINESS WIRE)--Aug. 3, 1999-- Accrue(TM) Software, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ACRU ACRU American Civil Rights Union ACRU Active Confirmed Registered User (eBay) ), today announced results for first quarter ending June 30, 1999 of its fiscal year 2000. The Company reported revenues of $1,928 thousand for the first quarter of fiscal year 2000, a 34% percent increase over revenues of $1,444 thousand reported for the fourth quarter of 1999, and a 587% percent increase over revenues of $281 thousand reported for the first quarter of 1999. The net loss for the first quarter of 2000 was $2,143 thousand, compared to a net loss of $1,788 thousand for the fourth quarter of 1999, and a net loss of $1,492 thousand for the first quarter of 1999. Accrue added, among others, the following new enterprise customers in the quarter: Canadian Imperial Bank of Commerce The Canadian Imperial Bank of Commerce TSX: CM NYSE: CM, better known to most customers as CIBC, is one of Canada's major banks. CIBC is classified as a Domestic Chartered Bank (Schedule I). (NYSE NYSE See: New York Stock Exchange :BCM BCM Baylor College of Medicine BCM Become BCM Business Communications Manager (Nortel) BCM Broadcom Corporation BCM Business Continuity Management BCM Business Contact Manager (Microsoft) ), PriceCostco, ShopNow.com, Women.com, AutoZone, Inc., Crosswalk.com, Inc. (NASDAQ:AMEN), Totalsports.net and Central Newspapers, Inc. (NYSE:ECP (Enhanced Capabilities Port) See IEEE 1284. 1. ECP - Engineering Change Proposal. 2. ECP - Enhanced Capabilities Port. 3. ECP - Extended Capabilities Port. 4. ECP - Extended Concurrent Prolog. ), which includes The Arizona Republic, The Arizona Business Gazette, The Indianapolis Star, Westech, and Home Buyer's Fair. About Accrue Software Accrue Software, Inc. is a leading provider of eBusiness data collection and analysis software that enables business decision-makers to address critical marketing and merchandising questions concerning the effectiveness of their Web sites. Accrue's flagship product, Accrue Insight, is a comprehensive and scalable solution that helps Internet businesses increase the number of visitors to their site, the "stickiness" of the site and the conversion of lookers Lookers is a car dealership chain in the United Kingdom with over 90 dealerships turning over in excess of £1bn annually. Reg Vardy In January 2006, Lookers offered 875p per share for larger rival Reg Vardy. to buyers on a site. Accrue's fast-growing list of customers includes Apple Computer (Nasdaq:AAPL AAPL Apple Computer, Inc. (stock symbol) AAPL American Association of Professional Landmen AAPL American Academy of Psychiatry and the Law AAPL Advance Audiovisual Presentation Limited AAPL Advocates for Arkansas Public Libraries ), DHL DHL abbr. 1. Doctor of Hebrew Letters 2. Doctor of Hebrew Literature Airways, DreamWorks SKG SKG Stichting Kwaliteit Gevelbouw (Dutch) SKG Spielberg, Katzenberg,and Geffen (DreamWorks Studios) SKG Thessaloniki, Greece - Thessaloniki (Airport Code) SKG Smith and Kraus Global , Federal Express (NYSE:FDX See full-duplex. fdx - full-duplex ), Ford Motor Company (NYSE:F), Miller Freeman, Inc., Motorola (NYSE:MOT), N2K, Inc. (MusicBoulevard) (Nasdaq:NTKI), Preview Travel (Nasdaq:PTVL), San Jose Mercury News The San Jose Mercury News is the major daily newspaper in San Jose, California and Silicon Valley. The paper is owned by MediaNews Group. Its headquarters and printing plant are located in North San Jose next to the Nimitz Freeway (Interstate 880). , Standard & Poor's MMS, Sun Microsystems (Nasdaq:SUNW SUNW Sun Microsystems, Inc (former stock symbol; now JAVA) SUNW Stanford University Network Workstation (Sun Microsystems, Inc) ), TheStreet.com (Nasdaq:TSCM TSCM technical surveillance countermeasures (US DoD) TSCM Tactical Strike Coordination Manager TSCM Tactical Strike Coordination Module TSCM Temperature Scram Circuit Monitor TSCM Tomahawk Strike Coordination Module ) and T. Rowe Price T. Rowe Price (NASDAQ: TROW) is an independent global investment management firm and mutual fund manager based in Baltimore, Maryland. It was founded in 1937 by Thomas Rowe Price, Jr.. T. (Nasdaq:TROW trow intr.v. trowed, trow·ing, trows 1. Archaic To think. 2. Obsolete To suppose. [Middle English trowen, from Old English ). Accrue has strategic partnerships with Vignette Corporation (Nasdaq:VIGN VIGN Vignette Corporation (stock abbreviation, AMEX) ), DoubleClick and Net Perceptions (Nasdaq:NETP NETP National Employer Training Programme (UK) NETP New Equipment Training Plan NETP National Employer Training Pilot (UK) NETP New Equipment Training Program NETP Naval Environmental Training Program ). Located in Fremont, California, Accrue Software can be reached at 1/888/4ACCRUE or 510/580-4500. For more information on the company, visit www.accrue.com. Except for the historical information contained herein, the matters discussed in news releases are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, without limitation, the Company's limited operating history, history of losses, fluctuations in operating results, competition in the eBusiness analysis market, reliance on sales from a single product for its revenue, and reliance on expanding sales operations and distribution channels. These and other risk factors are described in detail in the Company's Registration Statement on Form S-1, and in the Company's other filings with the Securities and Exchange Commission. Note to Editors: Accrue Software and Accrue Insight are trademarks of Accrue Software, Inc. All other trademarks are the properties of their respective owners. All rights reserved. -0-
Accrue Software, Inc.
Statement of Operations
As of June 30, 1999
Q1 99 Q1 00
Apr 98 - Jun 98 % Apr 99 - Jun 99 %
--------------- - --------------- -
Net revenue:
Software license 183 65% 1,524 79%
Maintenance and service 98 35% 404 21%
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Total revenue 281 100% 1,928 100%
Cost of revenues 36 13% 250 13%
Gross profit 245 87% 1,678 87%
Operating expenses:
Product development 702 250% 683 35%
Sales and marketing 680 242% 1,520 79%
General and administrative 336 120% 324 17%
Stock based compensation - 0% 1,242 64%
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Total operating expenses 1,718 612% 3,769 196%
Loss from operations (1,474) -525% (2,091) -108%
Other income (expense), net (18) -6% (52) -3%
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Net loss (1,492) -532% (2,143) -111%
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Accrue Software, Inc.
Balance Sheet
As of June 30, 1999
Mar-99 Jun-99
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ASSETS
Current Assets
Cash and equivalents 1,600 567
Accounts receivable, net 1,636 2,914
Prepaids and other current assets 144 173
------- -------
Total current assets 3,380 3,654
Property and equipment, net 697 1,114
Other assets 127 297
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TOTAL ASSETS 4,204 5,065
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LIABILITIES & EQUITY
Liabilities
Current liabilities
Accounts payable 294 885
Accrued liabilities 471 365
Accrued royalties 175 237
Deferred revenue 971 1,348
Current portion of loan payable 135 135
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Total current liabilities 2,046 2,970
Long term liabilities
Loan payable 169 738
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Total long term liabilities 169 738
Total liabilities 2,215 3,707
Equity
Preferred, series A-E at $0.001 par value 9 9
Common Stock, at $0.001 par value 5 7
Note due from officer (213) (213)
Additional paid-in capital, net of issuance
costs 19,405 23,327
Unearned compensation (4,726) (7,136)
Accumualated deficit (12,492) (14,635)
------- -------
Total Equity 1,989 1,358
TOTAL LIABILITIES & EQUITY 4,204 5,065
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