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BroadVision Announces First Quarter 2007 Results.


REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif. -- BroadVision, Inc. (Pink Sheets:BVSN BVSN Broadvision, Inc. (stock abbreviation, AMEX) ), a global provider of e-business solutions, today reported financial results for its first quarter ended March 31, 2007. Revenues for the quarter were $12.7 million, compared with revenues of $13.0 million for the fourth quarter ended December 31, 2006 and $12.6 million for the first quarter of 2006.

License revenue for the first quarter was $5.7 million versus $4.0 million in the prior quarter and $2.9 million in the comparable quarter of 2006. The majority of the first quarter license revenue was generated from the company's core Commerce and Portal solutions from customers including Finnair, Prime Polymer, Standard Bank of Argentina, Vodafone Omnitel, and several other brand name global customers

In the first quarter of 2007, BroadVision posted a net loss on a Generally Accepted Accounting Principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records.

Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting
 ("GAAP GAAP

See: Generally Accepted Accounting Principles


GAAP

See generally accepted accounting principles (GAAP).
") basis of $1.8 million, or $0.02 per share, as compared with GAAP net income of $7.0 million, or $0.09 per diluted share, for the fourth quarter of 2006 and GAAP net income of $0.9 million, or $0.02 per diluted share, for the first quarter of 2006.

The Company's GAAP net loss was primarily due to a $6.7 million non-cash charge Non-Cash Charge

A charge off, made by a company against earnings, that does not require an initial outlay of cash.

Notes:
Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet.
 from the revaluation Revaluation

A calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (i.e.
 of the Company's outstanding warrants previously issued to certain holders to purchase approximately 4.2 million shares of common stock with a strike price of $1.48 per share. GAAP requires that the liability for these warrants be "marked to market" at the end of each financial reporting period. The Company's substantially appreciated stock price during the first quarter has contributed to the significant non-cash charge. If and when all these warrants are exercised, the company would receive approximately $6.2 million in cash.

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
 net income for the first quarter of 2007 was $5.4 million, or $0.05 per diluted share, compared with a pro forma net income of $6.1 million, or $0.08 per diluted share, in the fourth quarter of 2006 and a pro forma net income of $2.3 million, or $0.05 per diluted share, in the first quarter of 2006. These pro forma results exclude restructuring charges, gain (loss) on change in derivatives, stock compensation expense under SFAS SFAS Statement of Financial Accounting Standards
SFAS Special Forces Assessment and Selection
SFAS Student Financial Aid Services
SFAS Sport Fishing Association of Singapore
SFAS Safety Features Actuation System
SFAS Statewide Fixed Assets System
 123R, and revaluation of warrant liabilities. A reconciliation of these pro forma figures to GAAP net income figures is included in a table on the attached financial statements. The Company believes its pro forma results provide useful information because they reflect the Company's financial performance excluding certain charges, credits, gains and losses that the Company believes are not indicative of its ongoing operations.

As of March 31, 2007, the company had a cash balance of $41.0 million, representing a $4.0 million, or 11%, increase over the December 31, 2006 balance of $37.0 million, due primarily to positive cash flow generated from operations.

"Despite the first quarter GAAP net loss due primarily to a larger-than-normal non-cash warrant revaluation charge as the Company's stock price appreciated 245% during the quarter, our team continued to generate solid results," said Dr. Pehong Chen, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , BroadVision. "We are on track in delivering exciting new products and remain very focused on driving the Company forward according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 the strategic roadmap announced during the first quarter."

Conference Call Information

BroadVision management will host a conference call today, Wednesday April 25, 2007, at 2:00 p.m. PDT PDT
abbr.
Pacific Daylight Time


PDT Pacific Daylight Time

PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del PacĂ­fico

PDT 
. The conference call may be accessed by dialing: 1-866-463-5401 pin code 410254#. A web replay will also be available following the call on the company's website until it releases its second quarter 2007 financial results.

About BroadVision

Driving innovation since 1993, BroadVision is a global provider of e-business solutions. Our modular applications and agile toolsets, built on a robust framework for personalization and self-service, power mission-critical web initiatives that deliver unparalleled value to diverse customers worldwide. Hundreds of organizations, serving over 50 million registered users -- including Audible.com, Baker Hughes Baker Hughes NYSE: BHI is the world's third-largest oilfield services company behind Schlumberger & Halliburton, its main competitors. Baker Hughes provides the world's oil & gas industry with products and services for drilling, formation evaluation, completion and production. , Ferrari, Cardinal Health <includeonly></includeonly>

Cardinal Health (NYSE: CAH) is a premier, global healthcare company dedicated to making healthcare safer and more productive. Overview
Headquartered in Dublin, Ohio, Cardinal Health, Inc.
, Citibank, Hilti, Japan Airlines, Renault, Sears, Sony, Vodafone, U.S. Air Force, Xerox and Yomiuri Shinbun -- rely on BroadVision as their platform of choice for e-business.

For more information about BroadVision, Inc., call 1-650-331-1000, email ir1@broadvision.com or visit www.broadvision.com. For a free download of our Portal software, visit the Portal Solutions section of the new developer's corner which is featured on our home page.

BroadVision is a trademark or registered trademark of BroadVision, Inc. in the United States and other countries.

Information Concerning Forward-Looking Statements

Information in this release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which forward-looking statements involve risk and uncertainties. All forward-looking statements included in this release, including, but not limited to, BroadVision's continued execution in accordance with its strategic roadmap, are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from BroadVision's current expectations. Various factors and risks associated with BroadVision's business are discussed in its most recent annual report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 and in BroadVision's quarterly reports on Form 10-Q Form 10-Q

See 10-Q.
 as filed with the Securities and Exchange Commission.
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Publication:Business Wire
Article Type:Financial report
Date:Apr 25, 2007
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