Attunity Reports Third Quarter 2014 Financial Results
Total non-GAAP revenue grew 45% to a new record of $9.5 million
Non-GAAP operating income of $1.2 million
BURLINGTON, Mass., Oct. 30, 2014 /PRNewswire/ -- Attunity, Ltd. (NASDAQ CM: ATTU), a leading provider of information availability software solutions, today reported its unaudited financial results for the three-month period ended September 30, 2014.
Recent Operational Highlights:
- Big Data product - Attunity Replicate total license revenues increased by 53%, compared with the third quarter of 2013
- Increased activity with go-to-market partners including Teradata, Microsoft PDW and Pivotal led to growth in volume and size of Attunity Replicate deals
- Closed a $0.8 million follow-on deal with a U.S.-based managed healthcare provider, amounting to over $1.0 million in total revenue
- Launched Attunity solution for Hadoop designed to accelerate Big Data movement into and out of the leading Hadoop platforms, including Cloudera and Hortonworks
- Expanded Attunity Maestro with new capabilities, introduced at Oracle OpenWorld, for the database market, supporting large-scale data movement processes on a global scale
- New leads generated from the SAP TechEd show increased by 50% year-over-year
- Grew Cloud business revenue and customer on-boarding following successful launch of Attunity CloudBeam's free trial program in the Amazon marketplace
Financial Highlights for the Third Quarter of 2014, compared with the Third Quarter of 2013:
- Total non-GAAP revenue grew 45% to $9.5 million, a new record quarter1
- Total GAAP revenue grew 43% to $9.4 million
- Total license revenue grew 56% to $5.5 million
- Non-GAAP operating income of $1.2 million
- GAAP operating income of $0.4 million
- Cash, cash equivalents and restricted cash of $19.3 million as of September 30, 2014 compared with $16.5 million as of December 31, 2013
"We are generating strong momentum across all aspects of our business and through different sales channels, which has resulted in record revenues, and in achieving profitability. Our focus on global sales and marketing is a major catalyst for this growth and has driven increased adoption of our Big Data suite of solutions," stated Shimon Alon, Chairman and CEO of Attunity. "In addition to the successful execution of our sales team and growing market awareness, stimulated by our marketing team, we significantly increased activity with our go-to-market partners. As a result, we saw positive traction in all geographic territories. Each of these efforts played a role in positioning the Company to build momentum in the fourth quarter and beyond."
Mr. Alon continued, "Our newest product, Attunity Maestro, an automated workflow management platform for managing Big Data integration, is also making significant headway. Recently, during Oracle OpenWorld, we launched the new and expanded Attunity Maestro platform for databases and files. We received strong feedback from new prospects and existing users, with several deals expected to close during the fourth quarter 2014 and early-2015. In addition, given its rapid penetration in the Big Data ecosystem, we are proud to support Hadoop with our newly launched Attunity for Hadoop solution. We believe this solution is an unmatched offering in today's market, enabling the accelerated movement of Big Data for the Hadoop environment, simplifying its use for analytics and BI, as well as materially reducing implementation costs."
"Our Cloud business on the Amazon Web Services (AWS) platform continues to flourish with our Cloud offering becoming a substantial lead generator for Replicate deals. Since the launch of Attunity CloudBeam as an AMI and free trial promotion on Amazon's marketplace, our Cloud offering has increased revenue as a result of high conversion rates from the initial trials. We continue to drive this growth through targeted marketing efforts, including joint activities with AWS such as customer success videos, blogs, and webinars."
Sales and Marketing
Attunity continues to execute upon its sales strategy as each team member contributed to revenue during the quarter. The marketing team generated a significant number of quality leads across all territories as Attunity executed an aggressive content marketing program and increased outreach to industry analysts such as Gartner and Forrester. The Company expanded its visibility and generated increased customer interest, participating in recent industry events such as its debut at the Strata + Hadoop World and annual presence at SAP Tech Ed. During the quarter, the Company continued to grow awareness with its presence at Oracle OpenWorld and the HP Vertica Big Data Conference as well as its first time participation in the SAP for Utilities Show.
"We remain focused on building our enhanced product portfolio and brand recognition for the growing Big Data and Hadoop markets. We are seeing a substantial increase in our sales pipeline, which is expected to accelerate revenue growth in the fourth quarter of 2014 and beyond. Based on our success, we intend to continue executing upon our strategy and expand our sales force in 2015," concluded Mr. Alon.
Financial Results for Q3 2014
Total revenue for the third quarter of 2014 increased 43% to $9.4 million, compared with revenue of $6.6 million for the same period of 2013.
Total non-GAAP revenue for the third quarter of 2014 increased 45% to $9.5 million, compared with revenue of $6.6 million for the same period of 2013. This includes a 56% increase of license revenue to $5.5 million, compared with $3.5 million for the same period of 2013, as well as non-GAAP maintenance and service revenue which grew 31% to $4.0 million, compared with $3.0 million for the same period of 2013.1
The growth in total revenue is mainly attributable to an increase in Attunity Replicate revenue, the Hayes acquisition, increased activity with go-to-market partners, and additional revenues from one of the Company's OEM partners due to certain royalty adjustments.
Non-GAAP maintenance and service revenue includes approximately $0.1 million of acquired maintenance revenue from Hayes that was not recognized before due to business combination accounting rules.1
Operating income for the third quarter of 2014 was $0.4 million, compared with $1.0 million for the same period of 2013.
Non-GAAP operating income for the third quarter of 2014 was $1.2 million, compared with $1.4 million for the same period of 2013. This decline was primarily due to an increase in sales and marketing activities, associated with the execution of the Company's growth strategy. Non-GAAP operating income for the third quarter of 2014 excludes $0.8 million in expenses and amortization associated with acquisitions and equity based compensation expenses. This is compared with a $0.4 million of similar expenses for the same period last year. 1
Net income for the third quarter of 2014 was $0.3 million, or $0.02 per diluted share, compared with a net income of $0.7 million, or $0.06 per diluted share in the third quarter of 2013.
Non-GAAP net income for the third quarter of 2014 was $1.1 million, or $0.07 per diluted share, compared with a non-GAAP net income of $1.3 million, or $0.10 per diluted share, for the same period last year. Non-GAAP net income for the third quarter of 2014 excludes a total of $0.8 million in expenses mostly attributable to expenses and amortization associated with acquisitions and equity based compensation expenses. This is compared with $0.6 million in similar expenses for the same period in 2013. 1
Cash, cash equivalents and restricted cash were $19.3 million as of September 30, 2014, compared with $16.5 million as of December 31, 2013. This increase is mainly attributable to positive cash flow from operations of $2.4 million. Shareholders' equity was $30.1 million as of September 30, 2014, which was virtually the same as of December 31, 2013.
1See "Use of Non-GAAP Financial Information" below for more information regarding Attunity's use of Non-GAAP financial measures.
Conference Call Information
The Company will host a conference call with the investment community on Thursday, October 30th at 10:00 a.m. Eastern Time featuring remarks by Shimon Alon, Chairman and CEO of Attunity, and Dror Harel-Elkayam, CFO of Attunity. The dial-in numbers for the conference call are +1- 800-946-0774 (U.S. Toll Free), 180-924-6042 (Israel Toll Free), or +1-719-325-2418 (International). All dial-in participants must use the following code to access the call: 8368312.
Please call at least five minutes before the scheduled start time. The conference call will also be available via webcast, which can be accessed through the Events section of Attunity's website, http://www.attunity.com/events, and http://www.kcsa.com. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the live broadcast.
For interested individuals unable to join the conference call, a replay of the call will be available through November 13, 2014 at +1-877-870-5176 (U.S. Toll Free) or 1-858-384-5517 (International). Participants must use the following code to access the replay of the call: 8368312. The online archive of the webcast will be available on http://www.attunity.com/events or http://www.kcsa.com for 30 days following the call.
About Attunity
Attunity is a leading provider of information availability software solutions that enable access, management, sharing and distribution of data, including Big Data, across heterogeneous enterprise platforms, organizations, and the cloud. Our software solutions include data replication, data flow management, test data management, change data capture (CDC), data connectivity, enterprise file replication (EFR), managed-file-transfer (MFT), and cloud data delivery. Using Attunity's software solutions, our customers enjoy significant business benefits by enabling real-time access and availability of data and files where and when needed, across the maze of heterogeneous systems making up today's IT environment.
Attunity has supplied innovative software solutions to its enterprise-class customers for nearly 20 years and has successful deployments at thousands of organizations worldwide. Attunity provides software directly and indirectly through a number of partners such as Microsoft, Oracle, IBM and HP. Headquartered in Boston, Attunity serves its customers via offices in North America, Europe, and Asia Pacific and through a network of local partners. For more information, visit http://www.attunity.com or our In Tune blog and join our community on Twitter, Facebook, LinkedIn and YouTube, the content of which is not part of this press release.
Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with U.S. generally accepted accounting principles, or GAAP, Attunity uses Non-GAAP measures of revenue, net income, operating income, operating profit margin, revenue and net income per share, which are adjustments from results based on GAAP to exclude expenses and amortization associated with the acquisitions of RepliWeb and Hayes, net of related tax, stock-based compensation expenses in accordance with ASC 718, and non-cash financial expenses such as the effect of a revaluation of liabilities presented at fair value. Attunity's management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Attunity's on-going core operations and prospects for the future. Management uses both GAAP and non-GAAP information in evaluating and operating its business internally and as such has determined that it is important to provide this information to investors. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. For further details, see the Reconciliation of Selected GAAP Measures to Non-GAAP Measures table later in this press release.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal Securities laws. Statements preceded by, followed by, or that otherwise include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. For example, when we say that the increase in our sales pipeline is expected to accelerate revenue growth in the fourth quarter of 2014, 2015 and beyond or that we intend to expand our sales force in 2015, we use a forward-looking statement. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results, expressed or implied by such forward-looking statements, could differ materially from Attunity's current expectations. Factors that could cause or contribute to such differences include, but are not limited to: our reliance on strategic relationships with our distributors, OEM, VAR and "go-to-market" and other business partners, and on our other significant customers; our ability to expand our business into the SAP market and the success of our Gold Client offering; risks and uncertainties relating to acquisitions, including costs and difficulties related to integration of acquired businesses; timely availability and customer acceptance of Attunity's new and existing products, including Attunity Maestro; risks and uncertainties relating to fluctuations in our quarterly operating results, which may not necessarily be indicative of future periods; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; a shift in demand for products such as Attunity's products; the impact on revenue of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism; and other factors and risks on which Attunity may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Attunity, reference is made to Attunity's latest Annual Report on Form 20-F which is on file with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by Attunity in reports filed with, or furnished to, the SEC. Except as otherwise required by law, Attunity undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
© 2014 Attunity Ltd. All rights reserved. Attunity is a trademark of Attunity Inc.
For more information, please contact:
Garth Russell / Lilly Barker
KCSA Strategic Communications
P: + 1 212-682-6300
[email protected] / [email protected]
Dror Harel-Elkayam, CFO
Attunity Ltd.
Tel. +972 9-899-3000
[email protected]
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands, except share and per share data
| September 30, |
December 31, |
|||
| 2014 |
2013 |
|||
| Unaudited |
Audited |
|||
| ASSETS |
||||
| CURRENT ASSETS: |
||||
| Cash and cash equivalents |
$ 18,424 |
$ 16,481 |
||
| Restricted cash |
850 |
- |
||
| Trade receivables (net of allowance for doubtful accounts of $ 15 at |
3,877 |
5,224 |
||
| Other accounts receivable and prepaid expenses |
645 |
685 |
||
| Total current assets |
$ 23,796 |
22,390 |
||
| Other long-term assets |
468 |
385 |
||
| Severance pay fund |
3,307 |
3,233 |
||
| Property and equipment, net |
1,019 |
879 |
||
| Intangible assets, net |
4,458 |
5,345 |
||
| Goodwill |
17,543 |
17,748 |
||
| Total long-term assets |
26,795 |
27,590 |
||
| Total assets |
$ 50,591 |
$ 49,980 |
| September 30, |
December 31, |
|||
| 2014 |
2013 |
|||
| Unaudited |
Audited |
|||
| LIABILITIES AND SHAREHOLDERS' EQUITY |
||||
| CURRENT LIABILITIES: |
||||
| Trade payables |
$ 545 |
$ 458 |
||
| Contingent purchase consideration |
2,006 |
- |
||
| Deferred revenues |
6,672 |
5,175 |
||
| Employees and payroll accruals |
2,080 |
3,210 |
||
| Accrued expenses and other current liabilities |
1,456 |
1,365 |
||
| Total current liabilities |
$ 12,759 |
10,208 |
||
| LONG-TERM LIABILITIES: |
||||
| Long-term deferred revenue |
693 |
847 |
||
| Liabilities presented at fair value and other long-term liabilities |
828 |
1,219 |
||
| Contingent purchase consideration |
1,786 |
3,280 |
||
| Accrued severance pay |
4,465 |
4,328 |
||
| Total long-term liabilities |
7,772 |
9,674 |
||
| SHAREHOLDERS' EQUITY: |
||||
| Share capital - Ordinary shares of NIS 0.4 par value - |
||||
| Authorized: 32,500,000 shares at September 30, 2014 and December 31, 2013; Issued and outstanding: 15,179,468 shares at September 30, 2014 and 14,527,292 shares at December 31, 2013 |
1,752 |
1,677 |
||
| Additional paid-in capital |
132,728 |
130,944 |
||
| Receipt on account of shares |
- |
81 |
||
| Accumulated other comprehensive loss |
(800) |
(621) |
||
| Accumulated deficit |
(103,620) |
(101,983) |
||
| Total shareholders' equity |
30,060 |
30,098 |
||
| Total liabilities and shareholders' equity |
$ 50,591 |
$ 49,980 |
CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars in thousands, except per share data
| Nine months ended |
Three months ended |
|||||||
| September 30, |
September 30, |
|||||||
| 2014 |
2013 |
2014 |
2013 |
|||||
| Unaudited |
Unaudited |
|||||||
| Software licenses |
13,459 |
8,582 |
5,530 |
3,539 |
||||
| Maintenance and services |
11,312 |
8,673 |
3,868 |
3,029 |
||||
| Total revenue |
24,771 |
17,255 |
9,398 |
6,568 |
||||
| Operating expenses: |
||||||||
| Cost of revenues |
2,315 |
1,553 |
843 |
507 |
||||
| Research and development |
7,102 |
5,708 |
2,265 |
1,839 |
||||
| Selling and marketing |
13,743 |
8,042 |
4,883 |
2,586 |
||||
| General and administrative |
2,924 |
2,186 |
1,036 |
675 |
||||
| Total operating expenses |
26,084 |
17,489 |
9,027 |
5,607 |
||||
| Operating income (loss) |
(1,313) |
(234) |
371 |
961 |
||||
| Financial expenses, net |
316 |
348 |
127 |
263 |
||||
| Income (loss) before taxes on income |
(1,629) |
(582) |
244 |
698 |
||||
| Taxes on income (benefit) |
8 |
(116) |
(34) |
(11) |
||||
| Net income (loss) |
(1,637) |
(466) |
278 |
709 |
||||
| Basic net income (loss) per share |
(0.11) |
(0.04) |
0.02 |
0.06 |
||||
| Weighted average number of shares used in computing basic net income (loss) per share |
14,950 |
11,107 |
15,179 |
11,330 |
||||
| Diluted net income (loss) per share |
(0.11) |
(0.04) |
0.02 |
0.06 |
||||
| Weighted average number of shares used in computing diluted net loss per share |
14,950 |
11,107 |
15,837 |
12,571 |
||||
CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
| Nine months ended September 30, |
||||
| 2014 |
2013 |
|||
| Unaudited |
||||
| Cash flows activities: |
||||
| Net loss |
(1,637) |
(466) |
||
| Adjustments required to reconcile net loss to net cash provided by operating activities: |
||||
| Depreciation |
255 |
178 |
||
| Stock based compensation |
1,083 |
554 |
||
| Amortization of intangible assets |
887 |
560 |
||
| Accretion of payment obligation |
512 |
66 |
||
| Change in operating assets and liabilities: |
||||
| Accrued severance pay, net |
63 |
84 |
||
| Trade receivables |
1,347 |
746 |
||
| Other accounts receivable and prepaid expenses |
161 |
(144) |
||
| Other assets |
(1) |
- |
||
| Trade payables |
87 |
107 |
||
| Deferred revenues |
1,318 |
85 |
||
| Employees and payroll accruals |
(1,130) |
(687) |
||
| Accrued expenses and other liabilities |
91 |
(414) |
||
| Liabilities presented at fair value and other long-term liabilities |
(391) |
187 |
||
| Change in deferred taxes, net |
(203) |
(262) |
||
| Net cash provided by operating activities |
2,442 |
594 |
||
| Cash flows from investing activities: |
||||
| Purchase of property and equipment |
(395) |
(626) |
||
| Increase in restricted cash |
(850) |
- |
||
| Net cash used in investing activities |
(1,245) |
(626) |
||
| Cash flows from financing activities: |
||||
| Proceeds from exercise of stock options, warrants and rights |
695 |
354 |
||
| Receipts on account of shares |
- |
85 |
||
| Payment of contingent consideration |
- |
(2,000) |
||
| Net cash provided by (used in) financing activities |
695 |
(1,561) |
||
| Foreign currency translation adjustments on cash and cash equivalents |
51 |
(56) |
||
| Increase (decrease) in cash and cash equivalents |
1,943 |
(1,649) |
||
| Cash and cash equivalents at the beginning of the period |
16,481 |
3,778 |
||
| Cash and cash equivalents at the end of the period |
18,424 |
2,129 |
||
| - |
||||
| Supplemental disclosure of cash flow activities: |
||||
| Cash paid during the period for: |
||||
| Income taxes |
417 |
425 |
||
RECONCILIATION OF SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION
U.S. dollars in thousands, except share and per share data
| Three months ended September 30, 2014 |
Three months ended September 30, 2013 |
|||||||||||||||
| Unaudited |
Unaudited |
|||||||||||||||
| GAAP |
Adj. |
Non-GAAP |
GAAP |
Adj. |
Non-GAAP |
|||||||||||
| Software licenses |
5,530 |
5,530 |
3,539 |
3,539 |
||||||||||||
| Maintenance and services |
3,868 |
94 |
(a) |
3,962 |
3,029 |
- |
3,029 |
|||||||||
| Total revenue |
9,398 |
9,492 |
6,568 |
6,568 |
||||||||||||
| Operating expenses: |
||||||||||||||||
| Cost of revenues |
843 |
215 |
(b) |
628 |
507 |
129 |
(b) |
378 |
||||||||
| Research and development |
2,265 |
119 |
(c) |
2,146 |
1,839 |
50 |
(c) |
1,789 |
||||||||
| Selling and marketing |
4,883 |
257 |
(b), (c) |
4,626 |
2,586 |
208 |
(b), (c) |
2,378 |
||||||||
| General and administrative |
1,036 |
110 |
(c) |
926 |
675 |
47 |
(c) |
628 |
||||||||
| Total operating expenses |
9,027 |
8,326 |
5,607 |
5,173 |
||||||||||||
| Operating income |
371 |
1,166 |
961 |
1,395 |
||||||||||||
| Financial expenses, net |
127 |
31 |
(d) |
96 |
263 |
250 |
(d) |
13 |
||||||||
| Income before taxes on income (benefit) |
244 |
1,070 |
698 |
1,382 |
||||||||||||
| Taxes on income (benefit) |
(34) |
(46) |
(e) |
12 |
(11) |
(72) |
(e) |
61 |
||||||||
| Net income |
278 |
1,058 |
709 |
1,321 |
||||||||||||
| Basic net income per share |
0.02 |
0.07 |
0.06 |
0.12 |
||||||||||||
| Weighted average number of shares used in computing basic net income per share |
15,179 |
15,179 |
11,330 |
11,330 |
||||||||||||
| Diluted net income per share |
0.02 |
0.07 |
0.06 |
0.10 |
||||||||||||
| Weighted average number of shares used in computing diluted net income per share |
15,837 |
15,862 |
12,571 |
12,646 |
||||||||||||
| (a) |
Valuation adjustment on acquired deferred services revenue |
||||
| Three months ended September 30, |
|||||
| 2014 |
2013 |
||||
| (b) |
Operating acquisition-related expenses and amortization: |
||||
| Cost of revenues - amortization of technology |
215 |
129 |
|||
| Selling and marketing - amortization of customers relationship |
81 |
57 |
|||
| 296 |
186 |
||||
| (c) |
Stock-based compensation expenses under ASC 718 included in: |
||||
| Research and development |
119 |
50 |
|||
| Selling and marketing |
176 |
151 |
|||
| General and administrative |
110 |
47 |
|||
| 405 |
248 |
||||
| (d) |
Acquisition-related financial expenses and revaluation of liabilities presented at fair value: |
||||
| Revaluation of liabilities presented at fair value |
(140) |
250 |
|||
| Acquisition-related financial expenses |
171 |
- |
|||
| 31 |
250 |
||||
| (e) |
Taxes related to acquisitions |
||||
RECONCILIATION OF SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION
U.S. dollars in thousands, except share and per share data
| Nine months ended September 30, 2014 |
Nine months ended September 30, 2013 |
|||||||||||||||
| Unaudited |
Unaudited |
|||||||||||||||
| GAAP |
Adj. |
Non-GAAP |
GAAP |
Adj. |
Non-GAAP |
|||||||||||
| Software licenses |
13,459 |
13,459 |
8,582 |
8,582 |
||||||||||||
| Maintenance and services |
11,312 |
284 |
(a) |
11,596 |
8,673 |
- |
8,673 |
|||||||||
| Total revenue |
24,771 |
25,055 |
17,255 |
17,255 |
||||||||||||
| Operating expenses: |
||||||||||||||||
| Cost of revenues |
2,315 |
643 |
(b) |
1,672 |
1,553 |
386 |
(b) |
1,167 |
||||||||
| Research and development |
7,102 |
311 |
(c) |
6,791 |
5,708 |
182 |
(c) |
5,526 |
||||||||
| Selling and marketing |
13,743 |
717 |
(b), (c) |
13,026 |
8,042 |
412 |
(b), (c) |
7,630 |
||||||||
| General and administrative |
2,924 |
299 |
(c) |
2,625 |
2,186 |
133 |
(c) |
2,053 |
||||||||
| Total operating expenses |
26,084 |
24,114 |
17,489 |
16,376 |
||||||||||||
| Operating loss |
(1,313) |
941 |
(234) |
879 |
||||||||||||
| Financial expenses, net |
316 |
119 |
(d) |
197 |
348 |
253 |
(d) |
95 |
||||||||
| Loss before taxes on income |
(1,629) |
744 |
(582) |
784 |
||||||||||||
| Taxes on income (benefit) |
8 |
(225) |
(e) |
233 |
(116) |
(216) |
(e) |
100 |
||||||||
| Net income (loss) |
(1,637) |
511 |
(466) |
684 |
||||||||||||
| Basic net income (loss) per share |
(0.11) |
0.03 |
(0.04) |
0.06 |
||||||||||||
| Weighted average number of shares used in computing basic net income per share |
14,950 |
14,950 |
11,107 |
11,107 |
||||||||||||
| Diluted net income (loss) per share |
(0.11) |
0.03 |
(0.04) |
0.05 |
||||||||||||
| Weighted average number of shares used in computing diluted net income (loss) per share |
14,950 |
15,832 |
11,107 |
12,589 |
||||||||||||
| (a) |
Valuation adjustment on acquired deferred services revenue |
||||
| Nine months ended September 30, |
|||||
| 2014 |
2013 |
||||
| (b) |
Operating acquisition-related expenses and amortization: |
||||
| Cost of revenues - amortization of technology |
643 |
386 |
|||
| Selling and marketing - amortization of customers relationship |
244 |
173 |
|||
| 887 |
559 |
||||
| (c) |
Stock-based compensation expenses under ASC 718 included in: |
||||
| Research and development |
311 |
182 |
|||
| Selling and marketing |
473 |
239 |
|||
| General and administrative |
299 |
133 |
|||
| 1,083 |
554 |
||||
| (d) |
Acquisition-related financial expenses and revaluation of liabilities presented at fair value: |
||||
| Revaluation of liabilities presented at fair value |
(393) |
187 |
|||
| Acquisition-related financial expenses |
512 |
66 |
|||
| 119 |
253 |
||||
| (e) |
Taxes related to acquisitions |
||||
SOURCE Attunity, Ltd.
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