bridgeline_2009.jpgWe love giving you examples of hope in hard times like these, so listen up because our news about Bridgeline Software, Inc. (news, site) is something to keep in mind.

The developer of SaaS-based web application management software and interactive business technology solutions recently announced some fiscal results and they look good. Real good.

Perpetually Positioned...

Bridgeline's goal in life is "to be perpetually positioned on the leading edge of innovation..." and, while we can exactly say that they've achieved that goal, their recent numbers certainly show that they're moving in the right direction.

iApps, the company's wide-ranging business framework suite slash content management system, recently saw vast improvements such as a new migration tool, which helps share templates, scripts and content between sites, and a new image gallery library module for the improvement of front-end applications.

Money, Money, Money

Bridgeline's results for the third fiscal quarter (ending June 30th, 2009) totaled to US $6 million. The number is an increase of US$ 300 thousand, or 5% compared to the same time last year. The nitty-gritty details also includes an operating income of US$ 189,000 to last year's US$ 40,000, and net income for the quarter was recorded as US$ 178,000 or $0.02 per diluted share versus last year's US$ 67,000 or US$ 0.01 per diluted share.

The not so nitty-gritty is that Bridgeline's improvements are slim, but still moving upwards with a 166% increase over their net numbers from Q308.

Some other highlights of Q309 as compared to Q308 include a 29% customer base increase (539 to 693), and a strong balance sheet with a current ratio of 1.6 to 1 (presently, Bridgeline has over US$ 24.5 million in total assets and US$ 5 million in total liabilities).

Additionally, annualized figures show that Bridgeline's recurring revenue for the same time period increased 19%, or, from US$ 2.7 million to US$ 3.3 million.

"Despite the severe economic challenges that have faced our nation over the past 18 months, we are very pleased with our continued growth and progress," stated Thomas Massie, Chairman and Chief Executive Officer of Bridgeline Software.

Must Be Funny, In a Rich Man's World

The company also reported their financial results for the combined first three quarters of 2009 as compared to the first three quarters of 2008:

  • Revenue was US$ 18,576,000, representing a 21% increase over revenue of US$ 15,301,000 
  • Net income increased 160%, or, from US$ 561,000 to US$ 216,000
  • Cash generated from operations was a reported US$ 2,018,000 compared to cash used in operations of $497,000

For the painfully itemized numbers, point yourself over this way.