Redwood City, CA - April 25th, 2012
-BroadVision, Inc. (NASDAQ: BVSN) an innovative
provider of online commerce and business social networking
solutions, today reported financial results for its first
quarter ended March 31, 2012. Revenues for the first quarter
were $3.8 million, compared with revenues of $4.2 million for
the fourth quarter ended December 31, 2011 and $5.1 million
for the comparable quarter of 2011.
License revenue for the first quarter of 2012 was $1.4
million, compared with $1.6 million for the prior quarter and
$1.5 million for the comparable quarter of 2011. The majority
of the first quarter license and subscription revenue was
generated from the company's BroadVision® Business
Agility Suite™, Commerce Agility Suite™, QuickSilver™, and
Clearvale™ solutions. Revenue during the quarter was
generated from sales to both new and existing customers such
as BMIT Inc., Centre National de l'Expertise
Hospitalière, Club Méditerranée, Front Burner Restaurants,
Vias Y Construcciones S.A., and several other brand-name
global customers.
In the first quarter of 2012, BroadVision posted net loss on
a U.S. Generally Accepted Accounting Principles
("GAAP") basis of $1.3 million, or $0.29 per basic
and diluted share, as compared with GAAP net loss of $1.8
million, or $0.40 per basic and diluted share, for the fourth
quarter of 2011 and GAAP net loss of $0.4 million, or $0.09
per basic and diluted share, for the comparable quarter of
2011.
As of March 31, 2012 the Company had $55.3 million of cash
and cash equivalents and short-term investments, compared to
a combined balance of $54.4 million as of December 31, 2011
and $60.9 million as of March 31, 2011.
"Although Q1 is a seasonally slower quarter, as
reflected in the 10 percent revenue decline compared to Q4,
we achieved a number of important milestones during the
quarter, especially in the business development front,"
said Dr. Pehong Chen, President and CEO, BroadVision.
"Continuing our two-pronged go-to-market strategy, we
made very good progress in developing new channel partners
across the globe via our Clearvale PaasPort program and on
driving adoption via our Clearvale Social Enterprise
Transformation (SET) program. As social business and cloud
computing reach the mainstream, we believe Clearvale is very
well positioned to dramatically change how people and
businesses collaborate and in doing so transform the entire
industry."
Conference Call Information
BroadVision management will host a conference call today,
Wednesday, April 25th, 2012, at 2:00PM Pacific Daylight Time
(PDT). The conference call may be accessed by dialing:
1-866-200-6965, with pin code 62051100#. Callers outside
North America should call +1-646-216-7221 to be connected.
These numbers can be accessed 15 minutes before the call
begins, as well as during the call. A web replay will also be
available following the call on the Company's
website.
About BroadVision
Driving innovation since 1993, BroadVision (NASDAQ: BVSN) is
an innovative provider of e-business and social networking
solutions for organizations seeking to grow profitably by
improving online business processes through invited
participation and social interaction. Our solutions --
including Clearvale, the world's first network of
networks for the socially driven enterprise -- enable
mission-critical e-business for next-generation organizations
around the globe. The customers benefiting from BroadVision®
solutions include Aeroxchange Ltd., Centre for Railway
Information Systems, Controller General of Defence Accounts,
Fiat S.p.A., Front Burner Restaurants, Hilti AG, Iberia,
Indian Railways Catering and Tourism Company, Kotak Mahindra
Bank Ltd., Malayala Manorama Co. Ltd., Promart Retail India
Pvt. Ltd., SINA, SOFTBANK TELECOM Corp., Thomas Cook India
Ltd., Vodafone, and more. Visit www.broadvision.com
for more details.
# # #
BroadVision, Business Agility Suite, Commerce Agility Suite,
QuickSilver, and Clearvale are trademarks or registered
trademarks of BroadVision, Inc. in the United States and
other countries. All other company names, product names, and
marks are the property of their respective owners.
Information Concerning Forward-Looking
Statements
Information in this release that involves expectations,
beliefs, hopes, plans, intentions or strategies regarding the
future are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and
within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended, which forward-looking statements
involve risk and uncertainties. All forward-looking
statements included in this release, including statements
about the scalability of BroadVision's business model and
marketing strategy for Clearvale and Clearvale's impact
on users and the industry, are based upon information
available to BroadVision as of the date of this release, and
BroadVision assumes no obligation to update or correct any
such forward-looking statements. These statements are not
guarantees of future performance and actual results could
differ materially from BroadVision's current
expectations. Various factors and risks associated with
BroadVision's business are discussed in its most recent
annual report on Form 10-K and in BroadVision's quarterly
reports on Form 10-Q as filed with the Securities and
Exchange Commission.
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