Apptix Announces Q2 2006 Results; Q2 2006 Highlights - Another Record Quarter of SMB Bookings Growth Fuels Strong Revenue Growth.HERNDON, Va. & BILLINGSTAD, Norway -- Apptix (OSE OSE - Open Systems Environment :APP): Financial Highlights --Recurring revenue grew by 14.5% over the first quarter of 2006 to $3.96 million in the second quarter of 2006. Top line revenue grew by 12.9% to $4.14 million in the same period. The growth in Q2 over Q1 was primarily due to strong organic growth in small and medium-sized business (SMB (1) (Small to Medium-sized Business) Also called "SME" (small to medium-sized enterprise), it refers to companies that are larger than the small office/home office (SOHO), but not huge. ) bookings through ASP-One, MailStreet and SharePoint. Key Accomplishments --Sales Success - The Company set another sales record in Q2, booking approximately 15,600 SMB seats of Exchange, an increase of 13.5% over Q1. MailStreet and ASP-One were the primary drivers of this bookings growth. --ASP-One - ASP-One set a record in Q2 with more than 5,800 new booked seats, an increase of 28.5% over Q1. Top line revenue increased 18.9% in Q2 compared to Q1. --MailStreet - MailStreet set a record in Q2 with more than 6,800 new booked seats, an increase of 14.3% over Q1. Top line revenue from MailStreet grew 19.5% in Q2 compared to Q1. --SharePointSite - SharePointSite set a record for new and upgraded site bookings in Q2 with 417 sites, an increase of 18.1% over Q1. Top line revenue increased 11.8% in Q2 compared to Q1. --New Product Development - The Company announced an alliance with BroadSoft and New Global Telecom to provide a variety of new Voice over Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (VoIP) applications. The new voice solutions are expected to be generally available in the fourth quarter. Further Financial Highlights EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become loss decreased 19.3% in the second quarter to $0.96 million compared to $1.19 million in the first quarter. Net loss decreased 7.7% in Q2 to a loss of $1.64 million compared to a loss of $1.78 million in Q1. Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. increased slightly in line with expectations to $4.41 million in Q2 compared to $4.24 million in Q1. The increase in operating expenses was due to continued investments in delivering on the Company's strategic plan. Cash burn decreased 27.4% in Q2 to $1.00 million compared to $1.38 million in Q1. The Company closed the second quarter with $3.48 million in cash. Based on progress within the business during the second quarter, the Company reaffirms its guidance of achieving EBITDA break even in the fourth quarter of 2006. Accounting Disclosure The Financial Information has been prepared in accordance with IAS See iPlanet Application Server. 1. (computer) IAS - The first modern computer. It had main registers, processing circuits, information paths within the central processing unit, and used Von Neumann's fetch-execute cycle. 34 - Interim Financial Reporting (IFRS IFRS International Financial Reporting Standard(s) IFRS Inter Frame Relay Service IFRS Indiana Facilities Registry System ). The group quarterly accounts have been prepared in accordance with the same principles as the annual financial statements (IFRS). For comparative purposes, the Company has used pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma quarterly results from 2005 when appropriate. Financial statements may be reviewed in their entirety at http://investor.sharepoint.apptix.net/default.aspx. About Apptix Apptix (OSE:APP), founded in 1997, is a premiere provider of on-demand, managed messaging and collaboration solutions to more than 90,000 Exchange users and over 10,000 customers worldwide. Its offerings, including Hosted Exchange, SharePoint, Mobile Messaging, and Archiving and Compliance, provide small and medium-sized businesses with a more affordable, reliable and secure alternative to purchasing and managing software applications in-house. Leading channel partners like IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Hewlett Packard, Bell Canada Bell Canada Enterprises (TSX: BCE, NYSE: BCE), legally BCE Inc., is a major Canadian telecommunications company. Through its subsidiaries including Bell Canada, Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for , and Savvis have selected the Apptix Service Management Platform, which supports a full range of private-label solutions and is backed by multi-tiered customer service. Apptix is a Microsoft Gold Certified Partner for Hosting and Application Services, and has strong technology partnerships with leading vendors including Research in Motion and Good Technology, among others. Apptix is headquartered in Herndon, Virginia, with additional locations across the US and in Pune, India. For more information, visit www.apptix.com. |
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