SAN JOSE, CA — (Marketwired) — 04/17/13 — AltiGen Communications, Inc. (OTCQX: ATGN), the leading provider of integrated Microsoft-based Unified Communications solutions, announced today its second quarter ended March 31, 2013 financial results.
Revenue for the second quarter of fiscal 2013 was $3.3 million, compared to $4.6 million during the same period in fiscal 2012. Gross margin in the second quarter of fiscal 2013 was 72.2%, compared to 64.5% during the second quarter of fiscal 2012. Operating expenses for the three months ended March 31, 2013 and 2012, respectively, totaled $2.9 million. Net loss for the second quarter of fiscal 2013 was $509,000 ($0.03 per share basic), compared to a net earnings of $15,000 ($0.00 per share diluted) in the second quarter of fiscal 2012.
For the first six months of the year, revenue was $7.1 million, compared to $9.4 million during the same period in fiscal 2012. Gross margin was 71.4% for the six-month periods of fiscal 2013, compared to 67% in the comparable period last year. Operating expenses decreased to $5.7 million in fiscal 2013 from $6.2 million in fiscal 2012. For the first six months of the year, net loss was $554,000 ($0.03 per share basic), compared to net earnings of $6,000 ($0.00 per share diluted) in the first half of 2012.
As of March 31, 2013, total cash and cash equivalents was $4.0 million.
Jeremiah Fleming, AltiGen-s President and Chief Executive Officer, stated, “Our second quarter revenues reflect the continued softness in the SMB premise PBX market. While we do not expect to see any significant improvements in the premise business, the launch of our new cloud-based PBX solution will begin to contribute to revenue and gross margins in the next few quarters.”
AltiGen will be discussing its financial results and outlook on a conference call today at 2:00 p.m. Pacific Daylight Time (5:00 p.m. ET). The conference call can be accessed by dialing (877) 407-8031 (domestic) or (201) 689-8031 (international). A live webcast will also be made available at . To access the replay, dial (877) 660-6853 (domestic) or (201) 612-7415 (international), account #286 conference ID #412743. A web archive will be made available at for 90 days following the call-s conclusion.
AltiGen Communications, Inc. (OTCQX: ATGN) is a leading provider of 100% Microsoft-based VoIP business phone systems and Unified Communications solutions. Having more than 10,000 customers around the world, AltiGen solutions are designed for high reliability, ease of use, seamless integration to Microsoft infrastructure technologies, and are built on a scalable, open standards platform. AltiGen-s worldwide headquarters is in Silicon Valley, California, with international operations based in Shanghai, China. Local sales, service and support are provided by AltiGen-s worldwide network of over 300 certified partners. For more information, call 1-888-ALTIGEN or visit the web site at .
The Forward-looking statements contained in this press release are based upon the Company-s current expectations, beliefs, plans and assumptions, which are subject to a number of risks and uncertainties including, but not limited to: statements regarding the continued market acceptance of our 100 percent Microsoft-based business phone systems and call center solutions and our ability to successfully launch our new cloud-based PBX solution. Actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
The forward-looking statements contained in this press release are also subject to unknown risks and uncertainties, including but not limited to, risks related to AltiGen-s limited operating history. For a more detailed description of AltiGen-s performance, please refer to AltiGen-s audited Annual Report filed with the OTCQX over-the-counter market for the fiscal year ended September 30, 2012. Since these statements involve risks and uncertainties and are subject to change at any time, the Company-s actual results could differ materially from expected results. Forward-looking statements speak only as of the date the statement was made. The Company does not undertake any obligation to update any forward-looking statements.
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