Posts net loss of $2.66m
CRM vendor Chordiant Software has reported a net loss of $2.66m for the first quarter 2009, compared to net income of $0.2m in the year-ago quarter, on revenue down 20% at $23.37m.
It made an operating loss of $1.93m compared to a loss of $0.61m in the same period last year. The diluted net loss per share was $0.09 compared to $0.01 a year ago.
The company said license revenue fell 10% to $7.9m, while services revenue fell 24% to $15.43m. Bookings were $13.6m, compared to $49.8m in the same period last year. It signed one new license transaction over $1m and two support and maintenance renewals each over $1m.
Steve Springsteel, chairman, president, and chief executive at Chordiant, said: Although market conditions remain exceptionally challenging, I am pleased that Chordiant was able to post its eighth consecutive quarter of non-GAAP profitability. I believe this is a testament to our large blue-chip installed base, market-leading products, and our strong operational discipline. We will continue to manage our business to ensure that we continue to deliver excellent products that deliver a high degree of value to our customers.
For fiscal 2009 it expects approximately $9.5m in total license revenue associated with the contractual commitments under the Vodafone transaction that was closed in the first quarter of fiscal 2008. It also expects to recognize several million dollars of the remaining $9.5m in license revenue backlog, exclusive of Vodafone, over the next three quarters of fiscal 2009.