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January 1, 2009

Bridgeline fiscal 2008 revenue up

Bridgeline Software, a developer of software-as-a-service based web applications, has recorded a revenue of $21.3 million for the fiscal year ended September 30, 2008, an increase of $10 million, or 91%, compared to $11.15 million in fiscal 2007.

By CBR Staff Writer

Bridgeline Software has reported a net loss of $10.31 million, or $1.09 per basic and diluted share, for the fiscal year ended September 30, 2008, compared to a net loss of $1.89 million, or $0.36 per basic and diluted share, for fiscal 2007.

The company posted positive EBITDA of $1.3 million in fiscal 2008, a $1.5 million improvement when compared to fiscal 2007. It reported a gross profit of $11 million for the fiscal year ended September 30, 2008, a $4.9 million improvement from the prior year.

As of September 30, 2008, the company had over $24 million in total assets, and $6 million in total liabilities. In addition, it had over $5.9 million of cash on hand and accounts receivable.

Thomas Massie, president and CEO of Bridgeline Software, said: Despite the economic recession the US has faced for the past year, we are very pleased with our strong revenue growth and positive EBITDA results in fiscal 2008. Each quarter of fiscal 2008 we continued to increase our customer base, our software licenses and our recurring revenue.

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