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PRESS
RELEASE
Contact
Information
TigerLogic Corporation
25A Technology Drive
Irvine, CA 92618
Thomas G. Lim, Chief Financial Officer
Phone: (949) 442-4400
Fax: (949) 250-8187
thomas.lim@tigerlogic.com
TIGERLOGIC CORPORATION ANNOUNCES
FISCAL 2009 SECOND QUARTER RESULTS
IRVINE, CA. – November 12, 2008
TigerLogic Corporation (Nasdaq: TIGR) today announced financial results for the second quarter of fiscal year 2009. Net revenue for the second quarter ended September 30, 2008 was $4.2 million as compared to $4.9 million for the same period in the prior fiscal year. Net loss for the second quarter ended September 30, 2008 was $1.5 million as compared to net income of $0.1 million for the same period in the prior fiscal year. Loss per share for the second quarter ended September 30, 2008 was $0.06 as compared to breakeven in the same period in the prior fiscal year. Cash balance was $12.2 million at September 30, 2008 as compared to $12.2 million at September 30, 2007.
Earnings before interest, taxes, depreciation, and amortization (“EBITDA”) for the second quarter ended September 30, 2008 was negative $0.5 million, or (11%) of net revenue, as compared to $0.5 million, or 10% of net revenue, for the same period in the prior fiscal year. The decrease in EBITDA was a result of lower revenue and increased operating expenses relating to the introduction of the TigerLogic ChunkIt! product. 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 (income) expense, other (income) expense, and income tax provision (benefit) to its GAAP reported net income (loss).
About TigerLogic Corporation
TigerLogic Corporation (Nasdaq: TIGR), has been providing reliable data management and rapid application deployment solutions for ISVs and developers of database applications for more than three decades. TigerLogic's product offerings include: 1) TigerLogic® ChunkIt!, an internet browser-based application that enhances the search experience of any popular search engine or Web page; 2) TigerLogic® XML Data Management Server (XDMS), 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; 3) 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 4) Omnis Studio®, a cross-platform, object-oriented RAD tool for developing sophisticated thick-client, Web-client or ultra thin-client database applications. TigerLogic's installed customer base includes more than 500,000 active users representing more than 20,000 customer sites worldwide, with a significant base of diverse vertical applications. With employees and contractors worldwide, TigerLogic offers 24x7 customer support services and maintains an international presence. More information about TigerLogic and its products can be found at http://www.tigerlogic.com. Product details about ChunkIt! can be found at http://www.getchunkit.com.
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 the Company 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-Q/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 September 30, 2008 are not necessarily indicative of the Company’s operating results for any future periods.
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TigerLogic, ChunkIt!, Raining Data, Pick, mvDesigner, D3, mvEnterprise, mvBase, Omnis, and Omnis Studio are trademarks of TigerLogic Corporation. All other trademarks and registered trademarks are properties of their respective owners.
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