Fiscal 2009

January 06, 2009

Bridgeline Software, Inc.

Condensed Consolidated Statements of Operations
(Dollars in thousands except per share data)

  Three Months Ended Six Months Ended
March 31, 2009 March 31, 2008 March 31, 2009 March 31, 2008
Revenue $ 6,099 $ 5,398 $ 12,572 $ 9,601
Cost of revenue   2,682  $ 2,459   5,580   4,481
Gross profit   3,417   2,939   6,992   5,120
Operating expenses:  
   Sales & marketing   1,628   1,672   3,258   2,739
   General & administrative   1,027   779   2,069   1,524
   Research & development   284   132   635   298
   Depreciation & amortization   227   240   592   434
Total operating expenses   3,166   2,823   6,554   4,995
Income  from operations   251   116   438   125
Interest and other income (expense)   (13)   (4)   (35)   24
Income  before income taxes   238   112   403   149
Income taxes   20   -   20   -
Net income $ 218 $ 112 $ 383 $ 149
                 
Net income per share:  
Basic $ 0.02 $ 0.01 $ 0.04 $ 0.02
Diluted $ 0.02 $ 0.01 $ 0.04 $ 0.02
                 
Number of weighted average shares:  
    Basic   11,012,808   9,250,265   10,891,537   8,965,411
    Basic and Diluted   11,058,933   9,349,102   10,938,201   9,067,113
 
EBITDA results (Note 1)  
Add:  
    Interest and tax expense $ 31 $ 14 $ 53 $ 32
    Depreciation and amortization   303   289   744   493
    Stock-based compensation   145   132   282   187
EBITDA before stock compensation and Other non-recurring charges   697   547   1,462   861
 
EBITDA per diluted share $ 0.06 $ 0.06 $ 0.13 $ 0.09