Attunity Reports Third Quarter 2016 Results

During the third quarter of 2016, Attunity increased its investments and programs with key partners in the Hadoop, Data Warehousing and Cloud markets, including Hortonworks, Cloudera, Confluent, Teradata, Microsoft and AWS. These programs include targeting their partners' field organizations, as well as executing more joint demand generation activities.

Consulting Services

The Company has seen increased demand from customers requiring Attunity's consulting services for their larger-scale and enterprise-wide implementations. Attunity established a consulting services group to leverage its skills and expertise to help customers move to production faster. Attunity continues to make investments in building out this group as well as engaging system integration partners to address this demand.

Financial Results for Q3 2016

GAAP total revenue for the third quarter of 2016 increased 1.6% to $13.0 million, compared with $12.7 million for the same period in 2015. This includes license revenue of $6.3 million, which decreased 9% compared with $7.0 million for the same period in 2015, and maintenance and service revenue, which grew 15% to $6.6 million, compared with $5.8 million for the same period in 2015.

Non-GAAP total revenue for the third quarter of 2016 remained constant at $13.0 million, compared to the same period in 2015. This includes non-GAAP maintenance and service revenue of $6.6 million, which grew 10% from the same period in 2015 (license revenue of $6.3 million was not used as a non-GAAP measure). Non-GAAP maintenance and service revenue for the third quarter of 2016 excludes immaterial sums associated with a valuation adjustment on acquired deferred service revenue, compared with $0.2 million of a similar adjustment for the same period in 2015.*

GAAP operating expenses for the third quarter of 2016 increased 22% to $17.0 million, compared with $14.0 million for the third quarter of 2015. The increase in operating expenses is primarily related to a $2.0 million charge for partial impairment of acquired intangible assets associated with the Appfluent acquisition; and a $1.0 million increase in costs related to the Company's global expansion, with total headcount increasing by 30 people between the third quarter of 2015 and the third quarter of 2016 - including 21 additions to the sales, sales support, marketing and consulting services teams.

Non-GAAP operating expenses for the third quarter of 2016 increased 12% to $13.5 million, compared with $12.0 million for the third quarter of 2015. The Non-GAAP operating expenses in the third quarter of 2016 exclude an approximately $2.0 million charge for partial impairment of acquired intangible assets associated with the Appfluent acquisition, as well as $1.6 million in expenses and amortization associated with acquisitions and equity-based compensation expenses. This is compared with $2.3 million in adjustments, expenses and amortization associated with acquisitions and equity-based compensation expenses for the same period in 2015.*

GAAP operating loss for the third quarter of 2016 was $4.1 million, compared with $1.3 million for the same period in 2015.

Non-GAAP operating loss was $0.5 million for the third quarter of 2016, compared with operating income of $1.0 million for the third quarter of 2015. Non-GAAP operating loss for the third quarter of 2016 excludes a total of $3.6 million in expenses, including a $2.0 million charge for partial impairment of acquired intangible assets associated with the Appfluent acquisition, and $1.6 million in expenses and amortization associated with acquisitions and equity-based compensation expenses. This is compared with $2.3 million in adjustments, expenses and amortization associated with acquisitions and equity-based compensation expenses for the third quarter of 2015.*

GAAP net loss for the third quarter of 2016 was $4.0 million, or $0.24 per diluted share, compared with a net loss of 1.9 million, or $0.12 per diluted share, in the third quarter of 2015.

Non-GAAP net loss for the third quarter of 2016 was $1.7 million, or $0.10 per diluted share, compared with non-GAAP net income of $0.2 million, or $0.01 per diluted share, for the same period in 2015. Non-GAAP net loss for the third quarter of 2016 excludes approximately $2.3 million in expenses, amortization and impairment charges associated with acquisitions, equity-based compensation expenses, and non-cash tax benefits, related mainly to the aforesaid impairment, of $1.2 million, compared with approximately $2.1 million in adjustments, expenses and amortization associated with acquisitions, equity-based compensation expenses, and non-cash tax benefits of $0.6 million for the same period in 2015.*

Cash and cash equivalents were $8.9 million as of September 30, 2016, same as of June 30, 2016. During the third quarter of 2016 we generated positive cash flow from operations of $1.0 million, which was offset by a final earn-out payment of $0.75 million to former Hayes Technology Group shareholders, compared with positive cash flow from operations of $0.4 million for the same period in 2015.

Appfluent's intangible assets, which were acquired in March 2015, decreased by additional $2.0 million to $0.6 million as of September 30, 2016, due to the $2.0 million partial impairment charge recorded in the third quarter of 2016. This accounting charge was taken in order to reflect the fair value of the intangible assets following delayed and reduced sales trends with longer sales cycles of Attunity Visibility, a product that incorporates the Appfluent technology and is aimed at optimizing enterprise data warehouses with Hadoop.

Shareholders' equity as of September 30, 2016 decreased to $31.8 million, compared with $34.5 million as of June 30, 2016.

 * See "Use of Non-GAAP Financial Information" below for more information regarding Attunity's use of Non-GAAP financial measures.

Revised Outlook for Full Year 2016

"Considering the trends currently impacting the business, we have updated our guidance for full year 2016 to between $52.5 million and $55 million in revenues and 0%-4% of Non-GAAP operating loss. As we look beyond 2016, we believe the current challenges will have a short-term impact on our business. The management team is implementing changes companywide in order to enhance our ability to tap into current market trends.  At the same time, we are confident that our customer value proposition remains compelling across a relatively large and growing addressable market, as Attunity offers higher productivity, faster time to value and better manageability to customers' existing and new Big Data and Hadoop environments," concluded Mr. Alon.

Based on, among other things, the financial results for the third quarter and first nine months of 2016, as well as current market and business trends expected to at least partially carry through the fourth quarter of 2016, the Company now expects revenue for the full year 2016 to be between approximately $52.5 million and $55 million, replacing the previous guidance provided at the beginning of the year of between approximately $58 and $62 million. 

Additionally, the Company now expects Non-GAAP operating margin loss to range between 0% and 4% for the full year 2016 (replacing the previous guidance provided at the beginning of the year of non-GAAP operating income margin of between 5% and 8%).

Financial Reconciliation to Non-GAAP figures for 2016 Outlook:

(*) Non-GAAP Operating Margin Loss is calculated by dividing the Non-GAAP Operating Loss by the total Non-GAAP revenues for the period.

The Company reiterated that it does not expect to provide or update guidance more often than on an annual basis.

Conference Call and Webcast Information

The Company will host a conference call with the investment community on Wednesday, November 2^nd at 8:30 a.m. Eastern Time featuring remarks by Shimon Alon, Chairman and CEO of Attunity, and Dror Harel-Elkayam, CFO of Attunity. The dial-in numbers for the conference call are +1-888-572-7033 (U.S. Toll Free), +1 80 924 5906 (Israel), or +1-719-325-2361 (International). All dial-in participants must use the following code to access the call: 3908637.  

Please call at least five minutes before the scheduled start time.  The conference call will also be available via webcast, which can be accessed through the Investor Relations section of Attunity's website, ir.attunity.com.  Please allow extra time prior to the call to visit the site and download any necessary software to listen to the live broadcast.

For interested individuals unable to join the conference call, a replay of the call will be available through November 16, 2016, at +1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International). Participants must use the following code to access the replay of the call: 3908637. The online archive of the webcast will be available on ir.attunity.com/events for 30 days following the call.

About Attunity 
Attunity is a leading provider of Big Data management software solutions that enable access, management, sharing and distribution of data across heterogeneous enterprise platforms, organizations, and the cloud. Our software solutions include data replication and distribution, test data management, change data capture (CDC), data connectivity, enterprise file replication  (EFR), managed file transfer (MFT), data warehouse automation, data usage analytics, and cloud data delivery.

Attunity has supplied innovative software solutions to its enterprise-class customers for over 20 years and has successful deployments at thousands of organizations worldwide. Attunity provides software directly and indirectly through a number of partners such as Microsoft, Oracle, IBM and Hewlett Packard Enterprise. Headquartered in Boston, Attunity serves its customers via offices in North America, Europe, and Asia Pacific and through a network of local partners. For more information, visit http://www.attunity.com or ourblog and join our community on Twitter, Facebook, LinkedIn, and YouTube.

Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with U.S. generally accepted accounting principles, or GAAP, Attunity uses Non-GAAP measures of net income (loss), operating income (loss), and diluted net income (loss) per share, which are adjusted from results based on GAAP to exclude expenses, amortization and impairment charges associated with the acquisitions, stock-based compensation expenses in accordance with ASC 718, non-cash financial expenses such as the effect of a revaluation of liabilities presented at fair value and accretion of payment obligations, and tax benefits related to non-GAAP adjustments. Attunity's management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Attunity's on-going core operations and prospects for the future. Management uses both GAAP and non-GAAP information in evaluating and operating its business internally and as such has determined that it is important to provide this information to investors. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. For further details, see the Reconciliation of Supplemental Non-GAAP Financial Information table later in this press release.

Important Note: Attunity is not responsible for the awards mentioned in this press release or the entities that award them.

Safe Harbor Statement

This press release contains forward-looking statements, including statements regarding the anticipated features and benefits of Replicate Solutions, within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal Securities laws. Statements preceded by, followed by, or that otherwise include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. For example, when we say that we are on the right path towards driving solid long-term growth or when we provide our updated outlook for 2016, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results, expressed or implied by such forward-looking statements, could differ materially from Attunity's current expectations. Factors that could cause or contribute to such differences include, but are not limited to, risks and uncertainties relating to: our history of operating losses and ability to achieve profitability; our reliance on strategic relationships with our distributors, OEM, VAR and "go-to-market" and other business partners, and on our other significant customers; our ability to manage our growth effectively; acquisitions, including costs and difficulties related to integration of acquired businesses and possible impairment charges; our ability to expand our business into the SAP market and the success of our Gold Client offering; timely availability and customer acceptance of Attunity's new and existing products, including Attunity Compose and Attunity Visibility; fluctuations in our quarterly operating results, which may not necessarily be indicative of future periods; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; a shift in demand for products such as Attunity's products; the impact on revenues of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism as well as cyber-attacks; and other factors and risks on which Attunity may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Attunity, reference is made to Attunity's latest Annual Report on Form 20-F which is on file with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by Attunity in reports filed with, or furnished to, the SEC. Except as otherwise required by law, Attunity undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

[1] Source: 2016 Gartner Magic Quadrant for Data Integration Tools, Mark A. Beyer, Eric Thoo, Ehtisham Zaidi and Rick Greenwald, 08 August 2016.

© 2016 Attunity Ltd. All rights reserved. Attunity is a trademark of Attunity Inc.

For more information, please contact:
Garth Russell / Allison Soss
KCSA Strategic Communications
P: + 1-212-682-6300
grussell@kcsa.com   / asoss@kcsa.com

Dror Harel-Elkayam, CFO
Attunity Ltd.
P: +972-9-899-3000
dror.elkayam@attunity.com

CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
		September 30,		December 31,
		2016		2015
		Unaudited
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	8,932	$	12,522
Trade receivables (net of allowance for doubtful accounts of $15 at September 30, 2016 and December 31, 2015)		5,723		4,524
Other accounts receivable and prepaid expenses		1,109		639
Total current assets	$	15,764	$	17,685
LONG-TERM ASSETS:
Severance pay fund	$	3,852	$	3,513
Property and equipment, net		1,280		1,260
Goodwill and Intangible assets, net		34,131		40,116 Werbung Mehr Nachrichten zur Attunity Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 24.04.24 - PR Newswire Oxford Instruments Plc - Holding(s) in Company 24.04.24 - PR Newswire Cohen & Steers Capital Management - Form 8.3 - Tritax Big Box REIT plc 24.04.24 - PR Newswire Boeing Company - First Quarter Financial Results Solarboom 2024:    5 Gründe die für diese Aktie sprechen… weiterlesen» Anzeige wo-site-teaser-box-16746_site-teaser-box_2024-04-24_08%253A00%253A00_2024-04-25_09%253A00%253A59