PRESS
RELEASE
Contact
Information
Raining
Data Corporation
17500 Cartwright Rd.
Irvine, CA 92614-5846
Brian C. Bezdek, Chief Financial Officer
Phone: (949) 442-4400
Fax: (949) 250-8187
brian.bezdek@rainingdata.com
RAINING
DATA CORPORATION ANNOUNCES
FOURTH QUARTER AND FISCAL YEAR END
MARCH 31, 2005 RESULTS
IRVINE,
CA. - June 28, 2005
-
Fiscal Year Revenue of $21.5 Million
-
Operating Cash Flow Improvement of 21% Year over Year
- Cash
Balance Increased by 37% Year over Year to $10.6 million
-
Fourth Quarter EBITDA of 12% of Revenue
Raining
Data Corporation (Nasdaq: RDTA) today announced financial results
for the fourth quarter and full fiscal year ended March 31,
2005. Revenue for the fourth quarter was $5.5 million and for
the fiscal year was $21.5 million, as compared to $22.3 million
for the prior fiscal year. Loss per share improved to $0.05
for the year ended March 31, 2005 as compared to a loss per
share of $0.07 in the prior year.
Operating
income improved by $0.4 million to $0.2 million for fiscal 2005
as compared to an operating loss of $0.2 million for fiscal
2004.
Cash
balances increased $2.8 million, or 37%, to $10.6 million at
March 31, 2005 from $7.8 million at March 31, 2004 and increased
during the quarter by $1.6 million from $9.0 million at December
31, 2004. Cash flow from operating activities improved by 21%
to $2.8 million for the year ended March 31, 2005 from $2.3
million in the prior fiscal year.
Earnings
before interest, taxes, depreciation, and amortization (“EBITDA”)
for the quarter and fiscal year ended March 31, 2005 was $0.7
million and $2.3 million, or 12% and 11% of revenue, respectively,
as compared to $1.0 million and $3.0 million, or 17% and 13%
of revenue, respectively, for the same periods in the prior
year. 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 income taxes to its GAAP
reported net income (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) The D3®, mvEnterprise®
and mvBase® families of powerful Pick® Universal
Data Model (Pick UDM) based database management systems that
are the choice of more than a thousand application developers
worldwide; 3) .NET Integration solutions which allow Pick D3,
IBM UniData® and IBM UniVerse®
database platform users to take advantage of the Microsoft .NET
Framework and Microsoft SQL Server Reporting Services by providing
a bridge between Reporting Services or a .NET application and
the Pick data source; and 4) 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.
###
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 and fiscal year ended
March 31, 2005 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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