Centra Reports Fourth Quarter and 2005 Year End Results.LEXINGTON Lexington. 1 City (1990 pop. 225,366), seat of Fayette co., N central Ky., in the heart of the bluegrass region; inc. 1832, made coextensive with Fayette co. 1974. , Mass. -- Centra 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 : CTRA CTRA Canadian Therapeutic Recreation Association CTRA College Terrace Residents' Association CTRA Canadian Telecommunications Resellers Alliance CTRA Committee To Restore America ), a leading provider of software and services for online learning and training, today announced financial results for the fourth quarter and year ended December December: see month. 31, 2005. Fourth Quarter 2005 Results Revenues for the fourth quarter of 2005 were $9.8 million, compared with $9.4 million in the third quarter of 2005 and $10.5 million in the fourth quarter of 2004. Software license revenue for the fourth quarter of 2005 was $2.9 million, or 29 percent of total revenues, compared with $2.6 million in the third quarter of 2005 and $3.7 million in the fourth quarter of 2004. Software services revenues were $2.8 million for the fourth quarter of 2005, or 28 percent of total revenues, compared with $2.5 million in the third quarter of 2005 and $2.7 million in the same period last year. Maintenance and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. revenues were $4.2 million in the fourth quarter of 2005, or 43 percent of total revenues, compared with $4.3 million in the third quarter of 2005, and $4.1 million in the fourth quarter of 2004. Net income for the fourth quarter was $1.0 million, or $0.04 per basic share, including charges of approximately $620,000 or $0.02 per share, for merger-related costs associated with the prospective business combination with Saba Software Saba Software is a software company, with headquarters in Redwood City, California. Saba sells Human Capital Management and Talent Management software. History Saba was founded by Bobby Yazdani in April 1997 and has been a public company (NASDAQ: SABA) since April 2000. , Inc. This compares with net income of $795,000, or $0.03 per share, in the third quarter of 2005, including charges of approximately $310,000, or $0.01 per share, for merger-related costs associated with the prospective business combination with Saba Software, Inc. Net loss for the fourth quarter a year ago was $1.3 million, or $0.05 per share. Gross margin percentage for the fourth quarter of 2005 was 82.7 percent, compared with 81.8 percent in the third quarter of 2005 and 81.0 percent in the fourth quarter of 2004. Centra's cash, cash equivalents and short- and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. investments totaled $26.6 million as of December 31, 2005, compared with $24.5 million as of September September: see month. 30, 2005 and $25.9 million as of December 31, 2004. The Company's days sales outstanding In accountancy, Days Sales Outstanding is a company's average collection period. A low figure indicates that the company collects its outstanding receivables quickly. Typically it is looked at either quarterly or yearly (90 or 365 days). (DSO See CSO. ) was 60 days at the end of the fourth quarter, compared with 55 days at the end of the third quarter of 2005 and 68 days at the end of the fourth quarter of 2004. 2005 Results Revenues for 2005 were $38.5 million, compared with $38.1 million reported in 2004. Net income for 2005 was $990,000, or $0.04 per basic share. This compares with a net loss of $11.1 million, or $0.41 per share in 2004. About Centra Online learning and training solutions from Centra create workforce efficiencies and enable organizations to share and exchange business-critical information with geographically distributed customers, partners, prospects and employees. Centra enables groups to work faster and more effectively by automating critical learning and training initiatives online through virtual classrooms, online meetings and Web conferences. From enterprise-application training and support to workforce development and more, Centra's software and services help organizations deliver critical information and skills to support their most challenging business initiatives. Currently available in nine languages, Centra solutions can be deployed as on-site on-site adj. Done or located at the site, as of a particular activity: on-site monitoring of a production run; an on-site film shoot. software or through its ASP asp, popular name for several species of viper, one of which, the European asp (Vipera aspis), is native to S Europe. It is also a name for the Egyptian cobra (Naja haja). service. Organizations across every major industry and market sector choose Centra, including Wyndham Wyndham can refer to:
Weyerhaeuser is one of the largest pulp and paper companies in the world; the world's largest private owner of softwood timberland; and the second largest owner , Underwriters Laboratories Underwriters Laboratories Inc. is a U.S. not-for-profit, privately owned and operated product safety testing and certification organization. Based in Northbrook, Illinois, UL develops standards and test procedures for products, materials, components, assemblies, tools and , BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. and Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. . Headquartered in Lexington, Massachusetts Lexington is a town in Middlesex County, Massachusetts, United States. The population was 30,355 at the 2000 census. The town is famous for being the site of the opening shots of the Battles of Lexington and Concord, the first engagement of the American Revolution. , Centra serves a worldwide customer base throughout the Americas A·mer·i·cas , the See America. , Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). , Asia and Australia Australia (ôstrāl`yə), smallest continent, between the Indian and Pacific oceans. With the island state of Tasmania to the south, the continent makes up the Commonwealth of Australia, a federal parliamentary state (2005 est. pop. . For
more information, visit www.centra.com.
Centra is a registered trademark of Centra Software, Inc. All other trademarks referenced herein are the property of their respective owners.
CENTRA SOFTWARE, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(Amounts in thousands)
(Unaudited)
December December
31, 31,
2004 2005
Assets
Current assets
Cash, cash equivalents and short-term
investments $25,135 $26,568
Restricted cash 233 -
Accounts receivable, net 7,887 6,598
Prepaid expenses and other current assets 1,374 1,967
------- -------
Total current assets 34,629 35,133
Property and equipment, net 1,440 999
Long-term investments 743 -
Restricted cash 400 400
Other assets 16 15
------- -------
Total assets $37,228 $36,547
======= =======
Liabilities and stockholders' equity
Current liabilities
Current maturities of long-term debt $ 1,049 $ 709
Accounts payable 939 376
Accrued expenses 5,677 4,288
Deferred revenue 14,360 14,175
------- -------
Total current liabilities 22,025 19,548
Long-term debt, net of current maturities 1,012 618
Total stockholders' equity 14,191 16,381
------- -------
Total liabilities and stockholders' equity $37,228 $36,547
======= =======
CENTRA SOFTWARE, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
For the Three- and Twelve-Months Ended December 31, 2004 and 2005
(Amounts in thousands, except per share data)
(Unaudited)
Three Months Twelve Months
ended December ended December
31, 31,
2004 2005 2004 2005
Revenues
License $ 3,678 $ 2,859 $ 11,650 $10,514
Software services 2,667 2,816 10,338 10,689
Maintenance and professional
services 4,125 4,172 16,076 17,331
------- ------- -------- -------
Total revenues 10,470 9,847 38,064 38,534
------- ------- -------- -------
Cost of revenues
License 83 136 277 551
Amortization of acquired
developed technology - - 233 -
Software services 602 552 2,386 2,226
Maintenance and professional
services 1,305 1,017 4,549 4,271
------- ------- -------- -------
Total cost of revenues 1,990 1,705 7,445 7,048
------- ------- -------- -------
Gross profit 8,480 8,142 30,619 31,486
------- ------- -------- -------
Operating expenses
Sales and marketing 5,681 3,099 22,496 13,586
Product development 2,140 2,041 10,029 8,757
General and administrative 2,047 2,201 8,630 8,753
Restructuring charges - - 788 -
------- ------- -------- -------
Total operating expenses 9,868 7,341 41,943 31,096
------- ------- -------- -------
Operating (loss) income (1,388) 801 (11,324) 390
Other income, net 67 206 219 600
------- ------- -------- -------
Net (loss) income $(1,321) $ 1,007 $(11,105) $ 990
======= ======= ======== =======
Basic net (loss) income per share $ (0.05) $ 0.04 $ (0.41) $ 0.04
Diluted net (loss) income per
share $ (0.05) $ 0.03 $ (0.41) $ 0.03
------- ------- -------- -------
Weighted average shares
outstanding
Basic 27,567 28,277 27,367 27,953
------- ------- -------- -------
Diluted 27,567 28,885 27,367 28,777
------- ------- -------- -------
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