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BackWeb Releases 2008 Annual Report and Financial Results for 2008 and Q1 and Q2 2009
SAN JOSE, Calif., December 17, 2009 - BackWeb Technologies Ltd. (Pink Sheets: BWEBF or BWEBF.PK) today reported its financial results for the year ended December 31, 2008, and for the quarters ended March 31,2009 and June 30, 2009. BackWeb also posted its 2008 Annual Report to its website at http://www.backweb.com/news-and-events/.
The 2008 Annual Report discusses BackWeb's business activities from January 2008 to November 2009 and it provides additional details on the company's financial results for 2008. The financial results are summarized in the tables below.
BackWeb Technologies Ltd.
Condensed Consolidated Balance Sheets
(in thousands) |
| 6-30-2009
Unaudited | 3-31-2009
Unaudited | 12-31-2008
Audited |
| ASSETS | |
| Current Assets: | |
| Cash and Cash equivalents | $2,135 | $2,356 | $2,673 |
| Trade accounts receivable, net | 472 | 80 | 213 |
| Other current assets | 49 | 108 | 221 |
| Total Current Assets | 2,656 | 2,544 | 3,107 |
|
| Other non - current assets | 519 | 459 | 501 |
|
| Property and equipment, net | 24 | 32 | 46 |
|
| Total assets | $3,199 | $3,035 | $3,654 |
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
| Current liabilities: | |
| Accounts payable and accrued liabilities | $1,306 | $1,349 | $1,492 |
| Deferred revenue | 229 | 191 | 280 |
| Total current liabilities | 1,535 | 1,540 | 1,772 |
| Long - term liabilities | 26 | 26 | 26 |
| Total shareholders' equity | 1,638 | 1,469 | 1,856 |
| Total liabilities and shareholders' equity | $3,199 | $3,035 | $3,654 |
|
BackWeb Technologies Ltd.
Condensed Consolidated Statements of Operations
(In thousands, except per share data) |
| Three months ended | Year ended |
| 6-30-2009
Unaudited | 3-31-2009
Unaudited | 12-31-2008
Audited |
| Revenue: | |
| License | $ - | $ - | $ 145 |
| Licenses subject to contract accounting | 500 | 250 | 1,000 |
| Services | 222 | 228 | 1,519 |
| Total Revenue | 722 | 478 | 2,664 |
|
| Cost of revenue: | |
| License | - | - | 1 |
| Licenses subject to contract accounting | - | - | 23 |
| Services | 2 | - | 226 |
| Total cost of revenue | 2 | - | 250 |
|
| Gross profit | 720 | 478 | 2,414 |
|
| Operating expenses: | |
| Research and development | 217 | 274 | 1,483 |
| Sales and marketing | 153 | 202 | 1,408 |
| General and administrative | 170 | 365 | 1,428 |
| Total operating expenses | 540 | 841 | 4,319 |
| Profit (loss) from operations | 180 | (363) | (1,905) |
| Finance and other income (loss), net | (14) | (27) | 1,414 |
| Net profit (loss) | $ 166 | $ (390) | $ (491) |
|
| Net profit (loss) per share | $0.005 | $(0.01) | $(0.01) |
|
| Shares used in computing net profit (loss) per share | 41,334 | 41,334 | 41,334 |
© 2009 BackWeb Technologies Ltd. All rights reserved. BackWeb is a registered trademark. Symantec and Altiris are trademarks of Symantec Corporation or its subsidiaries. All other trademarks are property of their respective owners.
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For any questions or comments, please contact:
United States
Bill Heye
+1 (408) 933-1722
bwebf@backweb.com
Israel
Tomer Assis
+972 (03) 900 2712
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