SAN JOSE, CA — (Marketwired) — 01/20/16 — 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 first quarter ended December 31, 2015.
GAAP net income for the first quarter of fiscal 2016 was $30,000, or $0.00 per diluted share, compared with net income of $209,000, or $0.01 per diluted share in the preceding quarter, and compared to a net income of $420,000, or $0.02 per diluted share in the same period in 2015.
Non-GAAP net income for the first quarter of fiscal 2016 was $159,000, or $0.01 per diluted share, compared with net income of $369,000, or $0.02 per diluted share in the preceding quarter, and compared to a net income of $453,000, or $0.02 per diluted share in the same period in 2015.
Revenue for the first quarter of fiscal 2016 was $2.2 million, compared to $2.4 million in the preceding quarter, and compared to $2.6 million during the same period in fiscal 2015. Gross margin in the first quarter of fiscal 2016 was 80.8%, compared to 81.5% in the preceding quarter, and compared to 79.8% during the first quarter of fiscal 2015.
Operating expenses totaled $1.7 million for the first quarter of fiscal 2016, compared to $1.7 million in the preceding quarter, and $1.7 million during the same period in fiscal 2015.
Our cash, cash equivalents and restricted cash totaled $4.7 million at the end of the first quarter, compared to $4.6 million at the end of the preceding quarter. Working capital increased to $1.7 million the end of the first quarter, compared to $1.6 million as of September 30, 2015.
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 #13628801. 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 .
This release may contain forward-looking statements. Forward-looking statements are based only on the Company–s views of future events and financial performances, current expectations, beliefs, plans and assumptions. They are subject to known and unknown risks and uncertainties, many of which are outside of the Company–s control that may cause the Company–s actual results to be materially different from planned or expected results. There can be no assurances that the Company will achieve expected results, and actual results may be materially less than expectations. Please refer to the Company–s most recent Annual Report filed with the OTCQX over-the-counter market for a further discussion of risks and uncertainties. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company does not undertake any obligation to update any forward-looking statements.
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