Wrapping Up a Record Year
Woburn, MA | September 22, 2011
Bridgeline Digital, Inc. (NASDAQ: BLIN), a developer of award-winning web experience management (WEM) software and interactive technology solutions, announced today that its fiscal year end is fast approaching on September 30, 2011. Despite the manic economy, Bridgeline expects to report record revenues in excess of $26 million. This is a 12% increase when compared to fiscal 2010 revenues.
In fiscal 2011 Bridgeline’s new bookings are expected to increase approximately 28% to $27 million, compared to fiscal 2010 new bookings of $21 million. In addition, new iAPPS licenses sold in fiscal 2011 are expected to increase 52% when compared to fiscal 2010. Lastly, in fiscal 2011, Bridgeline expects its EBITDA to be approximately $1.5 million and cash positive from operations.
On September 30, 2011 Bridgeline anticipates its balance sheet to have approximately $30 million in total assets with approximately $9 million in total liabilities.
Bridgeline’s customers include some of the best brand names in the world such as Novartis, Sun Chemical, L’Oreal, Shaw Flooring, MF Global, Blue Cross Blue Shield, Berkshire Life, Everbright Energy, Hoveround, Cadaret Grant & Co., National Insurance Crime Bureau, and the American Academy of Pediatrics.
“We are ecstatic with the market adoption of the iAPPS product suite and are very excited about 2012 and beyond,” said Thomas Massie, Bridgeline’s President and CEO.
Despite the positive growth of the iAPPS product suite and the positive growth of the Company, Bridgeline’s stock price has recently faded downward. “It’s illogical and unfortunate to see a market capitalization of only $8 million on a performing $26 million dollar Company,” says Massie. “Many in our peer group enjoy a market cap multiple of 2 times annual revenues or greater. We believe Bridgeline’s stock price is depressed due to its small public float combined with low trading volume.”
Bridgeline Digital is considering various strategic alternatives to address the Company’s small float, thin trading volume, and suppressed market capitalization.
About Bridgeline Digital
Bridgeline Digital is a developer of an award-winning web experience management product suite and award-winning interactive business technology solutions that help customers leverage best in class web-based technologies to achieve their business objectives. The iAPPS Product Suite is an innovative SaaS solution that unifies Content Management, eCommerce, eMarketing, and Analytics capabilities into the heart of websites, online stores, intranets, extranets, and portals – enabling business users to swiftly enhance and optimize the value of their web properties. iAPPS flexible architecture provides customers with a state of the are Cloud based deployment or traditional dedicated server deployments.
Combined with award-winning interactive technology development services by Microsoft Gold-Certified development teams, Bridgeline Digital helps customers to cost-effectively maximize the value of their rapidly changing web applications. Bridgeline's teams of developers specialize in web application development, e-commerce development, usability engineering, SharePoint development, rich media development, and search engine optimization.
Bridgeline Digital is headquartered near Boston, with additional locations in Atlanta, Baltimore, Chicago, Denver, New York, Philadelphia, and Bangalore, India. Bridgeline Digital has hundreds of customers ranging from middle market organizations to divisions within Fortune 1,000 companies that include: Sun Chemical, Honeywell, Blue Cross Blue Shield, Novartis,, Shaw Flooring, Marriott International, Berkshire Life, PODS, Budget Rental Car,, AARP, National Financial Partners, The Packard Foundation, DTCC, Cadaret, Grant & Co., National Insurance Crime Bureau, and the American Academy of Pediatrics. To learn more about Bridgeline, please visit www.bridgelinedigital.com.
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