Selectica Announces First Quarter Fiscal 2009 Financial Results.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. -- Please replace the release with the following corrected version due to multiple revisions. The corrected release reads: SELECTICA ANNOUNCES FIRST QUARTER FISCAL 2009 FINANCIAL RESULTS Selectica, Inc. (Nasdaq: SLTC SLTC Salt Lake Technical Center (OSHA) SLTC Society of Leather Technologists & Chemists ), a leading provider of enterprise contract lifecycle management and sales configuration solutions, today announced financial results for its first fiscal quarter of 2009 ending June 30, 2008. Revenue for the first quarter of fiscal 2009 was $3.8 million compared to $4.3 million for the same period in the previous year. Net loss for the quarter was $2.6 million, or $(0.09) per share, compared to a net loss of $2.3 million, or $(0.08) per share, in the first quarter of fiscal 2008. Non-GAAP net loss for the first quarter of fiscal 2009 was $2.1 million, or $(0.07) per diluted share. Non-GAAP results for the first fiscal quarter of 2009 exclude restructuring charges, patent litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. settlement expense, and stock option investigation expense of $513,000. Cash and cash equivalents were $33.3 million at June 30, 2008. "The changes we announced in July included a significant restructuring and senior leadership changes at the company, including the departure of the 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. ," said Brenda Zawatski, co-chair of Selectica. "In our view, previous investments didn't deliver returns or prospects that were significant enough to warrant continued investment. As a result, we have reduced our cost structure. The changes in strategy that we made were necessary and have been well received by our customers, partners and employees." "We are planning to release an updated version of our sales configuration solution in September," continued Zawatski. "And, our contract management solution has been recognized as an industry leading product and continues to attract leading global companies. In the first quarter we signed significant new contract management deals with two Fortune 500 companies -- the world's leading online retailer and the leading developer of technologies for the global marketplace. One of these was an initial deployment of a CLM CLM - Career Limiting Move solution while the other was a competitive displacement. I believe that the selection of our solutions by these leading global companies validates the strength and leadership of our contract management offering." Recent Highlights * Selectica's contract management business grew 32% in the first quarter of fiscal 2009. * New customers for Selectica's contract lifecycle management solution Contract lifecycle management solution (CLMS) is a web-based software application which is used by contract and procurement professionals to manage tenders and contracts in especially upstream and downstream projects in the oil and gas industry. include a global leader in online retailing and a leading developer of technologies for the global marketplace, both Fortune 500 companies. * Selectica Contract Performance Management was recognized by industry research firm Forrester Research Forrester Research is an independent technology and market research company that provides its clients with advice about technology's impact on business and consumers. Corporate facts
* Selectica added Steven Goldner as vice president of engineering in the sales configuration business and David Knowlton as vice president of global sales. Conference Call Selectica will host a conference call to discuss its financial results today at 5:00 p.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT (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 Pacífico PDT ). To access the conference call by phone, dial (800) 240-2134. The conference call will also be webcast live via the Internet, and can be accessed on the investor relations Investor relations The process by which the corporation communicates with its investors. section of the Company's website (http://www.selectica.com). An archive of the webcast will be available in the same location shortly after the completion of the call. About Selectica, Inc. Selectica (Nasdaq: SLTC) provides its customers with software solutions that automate the complexities of sales configuration and enterprise contract management lifecycles. The company's high-performance solutions underlie and unify critical business functions including sourcing, procurement, governance, sales and revenue recognition. Selectica has been providing innovative, enterprise-class solutions for the world's largest companies for over 10 years and has generated substantial savings for its customers. Selectica customers represent leaders in manufacturing, technology, retail, healthcare and telecommunications, including: ABB n. 1. Among weavers, yarn for the warp. Hence, Noun 1. ABB - an urban hit squad and guerrilla group of the Communist Party in the Philippines; formed in the 1980s , Ace Hardware, 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 , Cisco, Covad Communications, General Electric, Hitachi, Juniper Networks Juniper Networks, Inc. (NASDAQ: JNPR) is an information technology company based in Sunnyvale, California and founded in 1996. The company designs and sells Internet Protocol network products and services. , Levi Strauss
Levi Strauss, born Löb Strauß & Co., Rockwell Automation, Tellabs, and 7-Eleven. Selectica is headquartered in San Jose, CA. For more information, visit the company's Web site at www.selectica.com. Forward Looking Statements Certain statements in this release and elsewhere by Selectica are forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such information includes, without limitation, business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the Company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of Company operations, or the performance or achievements of the Company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to fluctuations in demand for Selectica's products and services; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Company's industry; and risks related to the Company's past stock granting policies and related restatement of financial statements. Selectica undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional risk factors concerning the Company can be found in the Company's most recent 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 other reports filed by the Company with the Securities and Exchange Commission. [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] |
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