SAN JOSE, CA — (Marketwired) — 04/22/15 — AltiGen Communications, Inc. (OTCQX: ATGN), a leading provider of premise and cloud-based IP-PBX and Contact Center solutions, announced today its financial results for the second quarter ended March 31, 2015.
Revenue for the second quarter of fiscal year 2015 was $2.5 million, in comparison to $2.4 million for the second quarter of fiscal year 2014, an increase of 5%. Net income for the second quarter of fiscal 2015 from continuing operations was $107,000, or $0.00 per share (diluted), compared with net loss of $84,000, or $0.00 per share in the same period in fiscal 2014. Gross margin in the second quarter of fiscal 2015 was 80.1%, compared to 72.8% in the same period in 2014. Operating expenses for the second quarter of fiscal 2015 totaled $1.9 million, compared to $1.8 million during the same period a year ago.
For the six months of the year, revenue was $5.2 million, compared to $4.9 million during the same period in fiscal 2014, an increase of 7%. Net income was a record $526,000, or $0.02 per share (diluted), compared with net loss of $262,000, or $0.01 per share in the same period in fiscal 2014. Gross margin was 80.0% for the first six months of fiscal 2015, compared to 72.3% in the same period in 2014. Operating expenses for the second quarter of fiscal 2015 totaled $3.6 million, compared to $3.8 million in the comparable period last year.
The increase in gross margin for both the three and six month period was primarily due to an increase in the number of software only transactions in fiscal year 2015.
Our cash, cash equivalents and restricted cash increased by $313,000, or 8% to $4.4 million at the end of the second quarter, compared to $4.1 million at the end of the preceding quarter. Working capital was $1.0 million at the end of the second quarter, compared to $675,000 in the preceding quarter.
AltiGen will be discussing its financial results and outlook on a conference call today at 2:00 p.m. Pacific 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 #13607698. 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 premise and cloud-based IP-PBX and Contact Center solutions headquartered in Silicon Valley, California. With thousands of 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. 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 market acceptance of our premise and cloud-based IP-PBX and Contact Center solutions and our ability to maintain sales growth and profitability. 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, 2014. 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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