25A Technology Drive
Irvine, CA 92618
Thomas G. Lim, Chief Financial Officer
Phone: (949) 442-4400
Fax: (949) 250-8187
TIGERLOGIC CORPORATION ANNOUNCES
FOURTH QUARTER AND FISCAL YEAR END
MARCH 31, 2008 RESULTS
IRVINE, CA. – June 24, 2008
TigerLogic Corporation (Nasdaq: TIGR) today announced financial results for the fourth quarter and full fiscal year ended March 31, 2008. Net revenue for the fourth quarter was $4.9 million and for the full fiscal year was $19.8 million, as compared to $4.7 million and $18.7 million for the same respective periods in the prior fiscal year. Net loss for the fourth quarter ended March 31, 2008 was breakeven as compared to a net loss of $0.5 million for the same period in the prior fiscal year. Net loss for the fiscal year ended March 31, 2008 was $0.3 million as compared to a net loss of $3.0 million in the prior fiscal year. Earnings per share for the quarter ended March 31, 2008 was breakeven as compared to a loss per share of $0.02 in the same period in the prior fiscal year. Earnings per share for the fiscal year ended March 31, 2008 was a loss per share of $0.01 as compared to a loss per share of $0.14 in the prior fiscal year. Cash balance was $14.1 million at March 31, 2008 as compared to $11.7 million at March 31, 2007.
Earnings before interest, taxes, depreciation, and amortization ("EBITDA") for the quarter and fiscal year ended March 31, 2008 was breakeven and $1.0 million, or breakeven and 5% of net revenue, respectively, as compared to breakeven and negative $0.9 million, or breakeven and (5%) of net revenue, respectively, for the same periods in the prior fiscal year. The increase in fiscal 2008 EBITDA as compared fiscal 2007 was a result of higher revenue and lower research and development expenses. 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, and income tax provision (benefit) to its GAAP reported net income (loss).
About TigerLogic Corporation
TigerLogic Corporation (Nasdaq: TIGR), 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. TigerLogic's flagship products include: 1) TigerLogic® ChunkIt!, an internet browser-based application that enhances the search experience of any popular search engine or web page; 2) 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; 3) Powerful 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 .NET Integration components including the Pick Data Provider for .NET and the Pick Reporting Services Connector; 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. 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 more than 100 employees and contractors worldwide, TigerLogic offers 24x7 customer support services and maintains a strong 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.tigerlogic.com/chunkit.
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-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 March 31, 2008 are not necessarily indicative of the Company's operating results for any future periods.
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.
TigerLogic Corporation and Subsidiaries Unaudited Condensed Consolidated Balance
TigerLogic Corporation and Subsidiaries Unaudited Condensed Consolidated Statements of Operation
TigerLogic Corporation and Subsidiaries Unaudited Condensed Consolidated Statement of Cash Flows
TigerLogic Corporation and Subsidiaries EBITDA Calculation