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Unify Reports Second Quarter Fiscal 2006 Profit.

SACRAMENTO, Calif. -- Unify Corp. (OTCBB:UNFY) today announced financial results for its second quarter of fiscal 2006 ended Oct. 31, 2005. For the quarter, Unify achieved a $5,000 profit, its first quarterly profit since the second quarter of fiscal 2004. E[acute accent]Total revenues in the second quarter of fiscal 2006 were $2.7 million, a four percent decrease, compared to $2.8 million in the second quarter of fiscal 2005. Software licenses revenue was $1.2 million, an eight percent decrease, compared to $1.3 million for the same quarter last fiscal year. Net income was $5,000 or $0.00 earnings per basic and diluted share, compared to a net loss of $634,000 or $0.02 loss per share in the second quarter of fiscal 2005. E[acute accent]For the first six months, total revenues were $5.4 million, a two percent decrease compared to $5.5 million for the comparable period last year. Year to date net loss was $107,000 or $0.00 loss per share, compared to a net loss of $1.1 million or $0.04 loss per share in six months ended last fiscal year. E[acute accent]Unify ended the second quarter with total cash and cash equivalents of $3.2 million and stockholders' equity of $2.6 million. E[acute accent]"While our second quarter revenue results were less than expected, we were pleased with our discipline on the expense side which enabled us to generate a profit for the quarter," said Todd Wille, president and CEO of Unify. "Going forward we are committed to strategically investing in those areas that will drive bookings and revenue growth for the Insurance Risk Management division and securing key technology partnerships for our Unify NXJ platform." E[acute accent]"We were pleased with the industry recognition we receive with our NavRisk product," added Wille. "NavRisk was named a finalist in the industry-leading A.M. Best's E-Fusion Awards competition for underwriting solutions. This industry accolade adds validation to the momentum we're seeing with NavRisk with year-to-date bookings of $910,000 and tracking to reach our target of $2 million for the year."

E[acute accent]Conference Call

E[acute accent]Unify's quarterly conference call begins at 1:30 Pacific Time today and is open to all interested parties. Listeners should dial 800-683-1575 prior to the start of the conference call. The conference call will also be Webcast. Online listeners should visit www.unify.com prior to the start of the call for login information. A replay of the conference call will be available until Dec. 9, 2005 by dialing 877-519-4471 and entering the passcode 6700648.

E[acute accent]About Unify Corporation

E[acute accent]Unify provides business process automation solutions, including market leading applications for specialty markets within the alternative insurance risk management industries. Unify's solutions deliver a broad set of capabilities for automating business processes, integrating existing information systems and delivering collaborative information. Through its industry expertise and market leading technologies, Unify helps organizations drive business optimization, apply governance and increase customer service. Unify is headquartered in Sacramento, Calif., with offices in London and Paris, and a worldwide network of global distributors. Contact Unify at 916-928-6400 or visit www.unify.com.

E[acute accent]This press release contains "forward-looking statements" as that term is defined in Section 21E of the Securities Exchange Act of 1934 as amended. Forward looking statements are denoted by words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates", and other variations of such words and similar expressions are intended to identify such forward-looking statements. These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the Company's forward looking statements. Such risks and uncertainties include, but are not limited to general economic conditions in the insurance industry, computer and software industries, domestically and worldwide, the Company's ability to keep up with technological innovations in relation to its competitors, product defects or delays, developments in the Company's relationships with its customers, distributors and suppliers, changes in pricing policies of the Company or its competitors and the Company's ability to attract and retain employees in key positions. In addition, Unify's forward looking statements should be considered in the context of other risks and uncertainties discussed in the Company's SEC filings available for viewing on its web site at "Investor Relations," "SEC filings" or from the SEC at www.sec.gov.
UNIFY CORPORATION
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (in thousands)

 October 31, April 30,
 2005 2005
 ----------- -----------
 (unaudited) (audited)
 ASSETS
Current assets:
 Cash and cash equivalents $ 3,223 $ 3,675
 Accounts receivable, net 1,861 2,611
 Prepaid expenses & other current assets 406 656
 Contracts in progress 205 --
 ----------- -----------
 Total current assets 5,695 6,942

Property and equipment, net 347 429
Other investments 214 214
Goodwill and intangible assets, net 1,678 1,739
Other assets, net 190 166
 ----------- -----------
 Total assets $ 8,124 $ 9,490
 =========== ===========

 LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 Accounts payable $ 418 $ 739
 Short-term borrowings and current portion of
 long-term debt 800 166
 Other accrued liabilities 705 1,336
 Accrued compensation and related expenses 608 721
 Deferred revenue 2,298 3,220
 ----------- -----------
 Total current liabilities 4,829 6,182

Other long-term liabilities 703 741

Commitments and contingencies -- --

Stockholders' equity:
 Common stock 29 28
 Additional paid-in capital 63,766 63,588
 Accumulated other comprehensive income 26 73
 Accumulated deficit (61,229) (61,122)
 ----------- -----------
 Total stockholders' equity 2,592 2,567
 ----------- -----------
 Total liabilities and stockholders' equity $ 8,124 $ 9,490
 =========== ===========


 UNIFY CORPORATION
 UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 (in thousands, except per share data)

 Three Months Ended Six Months Ended
 October 31, October 31,
 ------------------- -------------------
 2005 2004 2005 2004
 --------- --------- --------- ---------
Revenues:
 Software licenses $ 1,246 $ 1,301 $ 2,415 $ 2,465
 Services 1,415 1,509 2,972 3,078
 --------- --------- --------- ---------
 Total revenues 2,661 2,810 5,387 5,543
 --------- --------- --------- ---------

Cost of Revenues:
 Software licenses 121 85 260 168
 Services 398 362 725 726
 --------- --------- --------- ---------
 Total cost of revenues 519 447 985 894
 --------- --------- --------- ---------
Gross profit 2,142 2,363 4,402 4,649
 --------- --------- --------- ---------

Operating Expenses:
 Product development 612 743 1,313 1,432
 Selling, general and
 administrative 1,539 2,261 3,204 4,322
 --------- --------- --------- ---------
 Total operating expenses 2,151 3,004 4,517 5,754
 --------- --------- --------- ---------
 Loss from operations (9) (641) (115) (1,105)
Other income, net 14 17 8 1
 --------- --------- --------- ---------
 Income (loss) before income
 taxes 5 (624) (107) (1,104)
Provision for income taxes -- 10 -- 4
 --------- --------- --------- ---------
 Net income (loss) $ 5 $ (634) $ (107) $(1,108)
 ========= ========= ========= =========

Net income (loss) per share:
 Basic $ 0.00 $ (0.02) $ 0.00 $ (0.04)
 Dilutive $ 0.00 $ (0.02) $ 0.00 $ (0.04)

Shares used in computing net
 income (loss) per share:
 Basic 28,851 27,629 28,736 27,576
 Dilutive 29,218 27,629 28,736 27,576
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Article Type:Company Profile
Geographic Code:1USA
Date:Nov 29, 2005
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