SAN JOSE, CA — (Marketwired) — 07/20/16 — AltiGen Communications, Inc. (OTCQX: ATGN), a leading provider of premise and cloud-based IP-PBX and Contact Center solutions, announced today its third quarter ended June 30, 2016 financial results.
Revenue for the third quarter of fiscal year 2016 was $2.0 million, in comparison to $2.2 million for the third quarter of fiscal year 2016. GAAP net loss for the third quarter of fiscal 2016 was $430,000, or $0.02 per share, compared with GAAP net loss of $91,000, or $0.00 per share, for the comparable period of the prior year. Non-GAAP net loss for the third quarter of fiscal year 2016 was $366,000, or $0.02 per share, compared with non-GAAP net income of $112,000, or $0.00 per diluted share for the third quarter of fiscal year 2015. Gross margin in the third quarter of fiscal 2016 was 81.6%, compared to 79.9% in the same period in 2015. Operating expenses for the third quarter of fiscal 2016 totaled $2.1 million, compared to $1.9 million during the same period a year ago.
For the nine months of fiscal year 2016, revenue was $6.4 million, compared to $7.4 million during the same period in fiscal 2015. GAAP net loss for the nine months ended June 30, 2016 was $366,000, or $0.02 per share, compared with GAAP net income of $435,000, or $0.02 per diluted share in the prior year period. Non-GAAP net loss for the nine months of fiscal year 2016 was $105,000, or $0.00 per share, compared with non-GAAP net income of $909,000, or $0.04 per diluted share during the same period a year ago. Gross margin was 81.3% for the nine months of fiscal 2016, compared to 79.9% in the same period in 2015. Operating expenses for the nine months of fiscal year 2016 totaled $5.6 million, compared to $5.5 million in the comparable period last year.
Total cash, cash equivalents and restricted cash was $4.5 million for the third quarter of fiscal 2016 and working capital was $1.6 million.
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 #13640817. 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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