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PRESS
RELEASE
Contact
Information
Raining
Data Corporation
25A Technology Drive
Irvine, CA 92618
Thomas G. Lim, Chief Financial Officer
Phone: (949) 442-4400
Fax: (949) 250-8187
thomas.lim@rainingdata.com
RAINING
DATA CORPORATION ANNOUNCES
FISCAL 2007 FIRST QUARTER RESULTS
IRVINE,
CA. – August 14, 2006
Raining Data Corporation (Nasdaq: RDTA) today announced financial
results for the first quarter of fiscal year 2007. Net revenue
for the quarter ended June 30, 2006 was $4.7 million as compared
to $5.3 million for the same period in the prior fiscal year.
Net loss for the quarter ended June 30, 2006, was $1.1 million
as compared to a net loss of $0.2 million for the same period
in the prior fiscal year. Loss per share was $0.05 for the quarter
ended June 30, 2006 as compared to a loss per share of $0.01
in the same period in the prior fiscal year.
Cash balance was
$10.0 million at June 30, 2006 as compared to $10.3 million
at June 30, 2005. Working capital was $4.6 million at June 30,
2006 as compared to $4.8 million at June 30, 2005. The Company
computes working capital as total current assets less current
liabilities.
Earnings
before interest, taxes, depreciation, and amortization (“EBITDA”)
for the quarter ended June 30, 2006 was negative $0.6 million,
or 13% of revenue, as compared to $0.2 million, or 4% of revenue,
for the same period in the prior year. The reduction in EBITDA
was primarily due to lower revenues and increased research and
development expenditures. The Company computes EBITDA, as reflected
in the table appearing at the end of this press release, by
adding depreciation, amortization, non-cash stock-based compensation
expense, interest expense, other (income) expense, and provision
(benefit) for income taxes to its GAAP reported net loss.
About
Raining Data
Raining
Data Corporation (Nasdaq: RDTA), headquartered in Irvine, California,
offers enterprise-grade XML database management and information
aggregation software solutions and has been providing reliable
data management and rapid application deployment solutions for
ISVs and developers of database applications for more than three
decades. Raining Data's flagship products include: 1) The High-performance
TigerLogic® XML Data Management Server (XDMS),
which provides flexible, scalable and extensible XML data storage
as well as query and retrieval of critical business data across
a variety of structured and unstructured information sources,
delivering mid-tier scalability and transactional integrity
across heterogeneous enterprise databases as well as dynamic
extensibility and ease of use, mostly found in repositories
and file systems; 2) Powerful Pick® Universal
Data Model (Pick UDM) based database management systems and
components, including D3®, mvEnterprise®
and mvBase® that are the choice of more than
a thousand application developers worldwide and .NET Integration
components including the Pick Data Provider for .NET and the
Pick Reporting Services Connector; and 3) Omnis Studio®,
a powerful, cross-platform, object-oriented RAD tool for developing
sophisticated thick-client, Web-client or ultra thin-client
database applications.
Raining Data’s installed
customer base includes more than 500,000 active users representing
over 20,000 customer sites worldwide, with a significant base
of diverse vertical applications. With more than 160 employees
and contractors in five countries, Raining Data offers 24x7
customer support and maintains a strong international presence.
More information about Raining Data Corporation and its products
can be found at www.rainingdata.com.
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Except for
the historical statements contained herein, the foregoing release
may contain forward-looking statements. These forward-looking
statements are subject to risks and uncertainties, and actual
results could differ materially due to several factors, including
but not limited to the success of the Company’s research and
development efforts to develop new products and to penetrate
new markets, the market acceptance of the Company’s new products
and updates, technical risks related to such products and updates,
the Company’s ability to maintain market share for its existing
products, the availability of adequate liquidity and other risks
and uncertainties. Please consult the various reports and documents
filed by Raining Data Corporation with the U.S. Securities and
Exchange Commission, including but not limited to the Company’s
most recent reports on Form 10-KSB and Form 10-QSB for factors
potentially affecting the Company’s future financial results.
All forward-looking statements are made as of the date hereof
and the Company disclaims any responsibility to update or revise
any forward-looking statement provided in this news release.
The Company’s results for the quarter ended June 30, 2006 are
not necessarily indicative of the Company’s operating results
for any future periods.
Raining
Data, Pick, mvDesigner, D3, mvEnterprise, mvBase,
Omnis, Omnis Studio and TigerLogic are trademarks of Raining
Data Corporation. All other trademarks and registered trademarks
are properties of their respective owners.
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