BURLINGTON, Mass., May 5, 2016 /PRNewswire/ -- Attunity,
Ltd. (NasdaqCM: ATTU), a leading provider of Big Data
management software solutions, today reported its unaudited
financial results for the three-month period ended March 31, 2016.
"We are pleased with the progress of our enhanced sales and
marketing strategy to engage larger customers for the
implementation of our Big Data management platform. During the
first quarter, this strategy contributed to the closing of notable
new customer engagements, as well as the rapid growth of our sales
pipeline with larger transactions in both size and scope than in
previous periods. We expect this growth to have a greater impact on
our financial results over the coming quarters," said Shimon Alon, Chairman and CEO of Attunity.
"With this strategy we are aligning with changing market
dynamics driven by the bourgeoning Hadoop market that raised
customer demand from point solutions to enterprise-wide and unified
replication platforms. These market dynamics have enhanced our
competitive positioning, and large enterprises are now selecting
our innovative and broad platform to support their large-scale
implementation needs.
In the first quarter, we won and on boarded new customer
accounts that strategically selected our platform – including Ford
Motor Company, a leading Fortune 100 automobile manufacturer, and
Autodesk, a leader in 3D Design, Engineering & Entertainment
software. Looking ahead, we are investing additional resources in
our sales, marketing and consulting teams in order to effectively
drive and monitor this strategy and capitalize on the opportunity
we see in the data warehousing and Hadoop markets," continued Mr.
Alon.
"Revenue in the first quarter grew 13% to $11.7 million, despite it being seasonally our
slowest quarter of the year. Looking ahead, we have a solid
pipeline for new licensing agreements, as our strategy
significantly impacts potential growth. We believe this is the
right time for our business to invest in larger market
opportunities in order to scale the company going forward,"
concluded Mr. Alon.
Recent Operational Highlights
- Won several Hadoop customers in the quarter, continuously
selected over competing solutions, including wins with Ford Motor
Company and Autodesk
- Launched Attunity Compose, a data warehouse automation platform
fully integrated with Attunity Replicate, following a successful
pilot program
- Enhanced our Big Data ingest solution with real-time streaming
into Apache Kafka, including partnership with Confluent
- Expanded Attunity CloudBeam solution for Google Cloud
Dataproc
- Recognized as one of the 20 Most Promising SAP Solution
Providers in 2016 by CIOReview Magazine
Financial Highlights for Q1 2016, compared with Q1 2015
- Total revenue increased 13% to $11.7
million
- Total non-GAAP revenue increased 13% to $11.8 million*
- Operating expenses increased to $14.9
million compared with $11.2
million for the first quarter of 2015
- Increase in expenses reflects our global expansion, with total
headcount increasing by 40 people over the past year - including 30
additions to the sales, sales support, marketing and consulting
services teams
- Total non-GAAP operating expenses increased to $12.8 million compared with $9.7 million for the first quarter of 2015*
- Net loss of $3.6 million,
compared with net loss of $1.3
million for the first quarter of 2015
- Non-GAAP net loss of $1.7
million, compared with non-GAAP net income of $0.2 million for the first quarter of 2015*
Big Data Management and Cloud Solutions
Attunity continues to expand the capabilities of its Big Data
management platform in response to strong market demand by offering
strategic enterprise-wide solutions that address the growing needs
of organizations. The Company's enhanced platform accelerates data
delivery and availability, automates data readiness for analytics
and optimizes data management with insight and intelligence. There
are currently three revenue pipelines contributing to our growth:
direct sales, strategic OEMs and global resellers, and referrals
from partners, such as system integrators, technology partners and
the leading Cloud vendors.
In the first quarter of 2016, the Company completed its
commercial launch of Attunity Compose, a new and innovative data
warehouse automation software. Attunity Compose was piloted in the
fourth quarter of 2015 and garnered a 100% adoption rate. All of
the Attunity Compose pilot customers have purchased the software
over the past several months. The Company also expanded its product
portfolio to support cloud databases for Google Cloud Dataproc.
Attunity Visibility is being chosen by customers as their
preferred solution to improve optimization of data warehouses for
large scale enterprises in various industries, including financial
services, telecommunications and health care. The major
benefits that Attunity Visibility offers customers are operational
efficiencies, strategic cost-performance efficiencies, and the
ability to better manage the rapidly escalating hardware upgrade
costs associated with managing more data. As a result, the
addressable market for Attunity Visibility is expanding as many
enterprises are in the process of upgrading their large data
warehouses for their critical business analytics in order to handle
massive data volume growth.
Consulting Services
The ramp of our consulting group is being driven by demand from
customers requiring these services for larger scale and
enterprise-wide implementations. Attunity continues to make
investments in building out the consulting group in order to
address this market
demand.
Financial Results for Q1 2016
Total revenue for the first quarter of 2016 increased 13% to
$11.7 million, compared with
$10.4 million for the same period in
2015. License revenue of $5.6 million
for the first quarter of 2016 was flat compared with the same
period in 2015. License revenue includes $0.8 million from a multi-million dollar,
multi-stage strategic Hadoop deal signed during the quarter.
Maintenance and service revenue grew 28% to $6.2 million, compared with $4.8 million for the same period in 2015.
Total non-GAAP revenue for the first quarter of 2016 was
$11.8 million, compared with
$10.4 million for the same period in
2015. This includes non-GAAP maintenance and service revenue of
$6.2 million, which grew 28% from the
same period in 2015.*
Operating expenses for the quarter increased to $14.9 million compared with $11.2 million for the first quarter of 2015. The
increase in expenses mostly reflects the Company's global expansion
of the sales, sales support, consulting and marketing teams over
the past year to accommodate growing demand; as well as the
acquisition of Appfluent in March
2015.
Non-GAAP operating expenses for the quarter increased to
$12.8 million compared with
$9.7 million for the first quarter of
2015.*
Operating loss for the first quarter of 2016 was $3.2 million, compared with $0.8 million for the same period in 2015.
Non-GAAP operating loss was $1.1
million for the first quarter of 2016, compared with
operating income of $0.8 million for
the first quarter of 2015. Non-GAAP operating loss for the first
quarter of 2016 excludes a total of $2.1
million in expenses and amortization associated with
acquisitions and equity-based compensation expenses, compared with
$1.5 million of similar expenses for
the same period in 2015.*
Net loss for the first quarter of 2016 was $3.6 million, or $0.22 per diluted share, compared with net loss
of $1.3 million, or $0.09 per diluted share in the first quarter of
2015.
Non-GAAP net loss for the first quarter of 2016 was $1.7 million, or ($0.10) per diluted share, compared with non-GAAP
net income of $0.2 million, or
$0.01 per diluted share for the same
period in 2015. Non-GAAP net loss for the first quarter of 2016
excludes a total of $1.8 million in
expenses and amortization associated with acquisitions and
equity-based compensation expenses, compared with $1.5 million of similar expenses for the same
period in 2015.*
Cash and cash equivalents were $10.0
million as of March 31, 2016,
compared with $12.5 million as of
December 31, 2015. Cash and cash
equivalents at the end of the first quarter of 2016 was impacted by
an increase in accounts receivable and the additional investments
in sales, sales support, consulting services and marketing
teams.
Shareholders' equity as of March 31,
2016 decreased to $36.4
million, compared with $38.3
million as of December 31,
2015.
* See "Use of Non-GAAP Financial Information" below for
more information regarding Attunity's use of Non-GAAP financial
measures.
Conference Call and Webcast Information
The Company will host a conference call with the investment
community on Thursday, May 5 at 10:00 a.m. Eastern Time
featuring remarks by Shimon Alon, Chairman and CEO of
Attunity, and Dror Harel-Elkayam, CFO of Attunity. The dial-in
numbers for the conference call are +1-888-438-5448 (U.S. Toll
Free), +1 80 924 5906 (Israel), or
+1-719-325-2315 (International). All dial-in participants must use
the following code to access the call: 4550053.
Please call at least five minutes before the scheduled start
time. The conference call will also be available via webcast,
which can be accessed through
http://public.viavid.com/index.php?id=119023 or the Investor
Relations section of Attunity's
website, http://www.attunity.com/investor-relations.
Please allow extra time prior to the call to visit the site
and download any necessary software to listen to the live
broadcast.
For interested individuals unable to join the conference call, a
replay of the call will be available through May 19,
2016, at +1-877-870-5176 (U.S. Toll Free) or 1-858-384-5517
(International). Participants must use the following code to access
the replay of the call: 4550053. The online archive of the webcast
will be available on http://www.attunity.com/events for
30 days following the call.
About Attunity
Attunity is a leading provider of Big Data management software
solutions that enable access, management, sharing and distribution
of data across heterogeneous enterprise platforms, organizations,
and the cloud. Our software solutions include data
replication and distribution, test data management, data
connectivity, enterprise file
replication (EFR), managed file
transfer (MFT), data warehouse automation, data usage
analytics, and cloud data delivery.
Attunity has supplied innovative software solutions to its
enterprise-class customers for over 20 years and has successful
deployments at thousands of organizations worldwide. Attunity
provides software directly and indirectly through a number of
partners such as Microsoft, Oracle, IBM and Hewlett Packard
Enterprise. Headquartered in Boston, Attunity serves its
customers via offices in North America, Europe,
and Asia Pacific and through a network of local partners.
For more information, visit http://www.attunity.com or our
blog and join our community on Twitter, Facebook, LinkedIn,
and YouTube.
Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with U.S.
generally accepted accounting principles, or GAAP, Attunity uses
Non-GAAP measures of net income (loss), operating income
(loss), operating profit margin and net income (loss) per share,
which are adjustments from results based on GAAP to exclude
expenses and amortization associated with the acquisitions, net of
related tax, stock-based compensation expenses in accordance with
ASC 718, acquisition-related compensation expense and non-cash
financial expenses such as the effect of a revaluation of
liabilities presented at fair value and accretion of payment
obligations. Attunity's management believes the non-GAAP financial
information provided in this release is useful to investors'
understanding and assessment of Attunity's on-going core operations
and prospects for the future. Management uses both GAAP and
non-GAAP information in evaluating and operating its business
internally and as such has determined that it is important to
provide this information to investors. The presentation of this
non-GAAP financial information is not intended to be considered in
isolation or as a substitute for results prepared in accordance
with GAAP. For further details, see the Reconciliation of
Supplemental Non-GAAP Financial Information table later in this
press release.
Safe Harbor Statement
This press release contains
forward-looking statements, including statements regarding the
anticipated features and benefits of Replicate Solutions, within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
Securities laws. Statements preceded by, followed by, or that
otherwise include the words "believes", "expects", "anticipates",
"intends", "estimates", "plans", and similar expressions or future
or conditional verbs such as "will", "should", "would", "may" and
"could" are generally forward-looking in nature and not historical
facts. For example, when we say that we expect this growth to have
a greater impact on our financial results over the coming quarters,
we use forward-looking statements. Because such statements deal
with future events, they are subject to various risks and
uncertainties and actual results, expressed or implied by such
forward-looking statements, could differ materially from Attunity's
current expectations. Factors that could cause or contribute to
such differences include, but are not limited to, risks and
uncertainties relating to: our history of operating losses and
ability to achieve profitability; our reliance on strategic
relationships with our distributors, OEM, VAR and "go-to-market"
and other business partners, and on our other significant
customers; our ability to manage our growth
effectively; acquisitions, including costs and difficulties
related to integration of acquired businesses; our ability to
expand our business into the SAP market and the success of our Gold
Client offering; timely availability and customer acceptance of
Attunity's new and existing products, including Attunity Compose
and Attunity Visibility; fluctuations in our quarterly operating
results, which may not necessarily be indicative of future periods;
changes in the competitive landscape, including new competitors or
the impact of competitive pricing and products; a shift in demand
for products such as Attunity's products; the impact on revenues of
economic and political uncertainties and weaknesses in various
regions of the world, including the commencement or escalation of
hostilities or acts of terrorism as well as cyber-attacks; and
other factors and risks on which Attunity may have little or no
control. This list is intended to identify only certain of the
principal factors that could cause actual results to differ. For a
more detailed description of the risks and uncertainties affecting
Attunity, reference is made to Attunity's latest Annual Report on
Form 20-F which is on file with the Securities and Exchange
Commission (SEC) and the other risk factors discussed from time to
time by Attunity in reports filed with, or furnished to, the SEC.
Except as otherwise required by law, Attunity undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
The contents of any website or hyperlinks mentioned in this
press release are for informational purposes and the contents
thereof are not part of this press release.
© 2016 Attunity Ltd. All rights reserved. Attunity is a
trademark of Attunity Inc.
For more information, please contact:
Garth Russell / Allison Soss
KCSA Strategic Communications
P: + 1 212-682-6300
grussell@kcsa.com / asoss@kcsa.com
Dror Harel-Elkayam, CFO
Attunity Ltd.
P: +972 9-899-3000
dror.elkayam@attunity.com
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
U.S. dollars in
thousands
|
|
|
|
|
|
|
|
|
March
31,
|
|
December
31,
|
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
Unaudited
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
10,018
|
$
|
12,522
|
|
Trade receivables
(net of allowance for doubtful accounts of $15 at
March 31, 2016 and December 31, 2015)
|
|
5,580
|
|
4,524
|
|
Other accounts
receivable and prepaid expenses
|
|
1,389
|
|
639
|
|
|
|
|
|
|
|
Total current
assets
|
$
|
16,987
|
$
|
17,685
|
|
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|
Severance pay
fund
|
$
|
3,729
|
$
|
3,513
|
|
Property and
equipment, net
|
|
1,352
|
|
1,260
|
|
Goodwill and
Intangible assets, net
|
|
39,641
|
|
40,252
|
|
Other
assets
|
|
456
|
|
448
|
|
|
|
|
|
|
|
Total long-term
assets
|
|
45,178
|
|
45,473
|
|
|
|
|
|
|
|
Total
assets
|
$
|
62,165
|
$
|
63,158
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
U.S. dollars in
thousands, except share and per share data
|
|
|
|
March
31,
|
|
December
31,
|
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
Unaudited
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
|
|
|
|
|
|
|
Trade
payables
|
|
793
|
|
664
|
|
Payment obligation
related to acquisitions
|
|
2,026
|
|
2,204
|
|
Deferred
revenues
|
|
11,031
|
|
9,354
|
|
Employees and payroll
accruals
|
|
3,515
|
|
4,012
|
|
Accrued expenses and
other current liabilities
|
|
1,196
|
|
1,248
|
|
|
|
|
|
|
|
Total current
liabilities
|
$
|
18,561
|
$
|
17,482
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
|
|
|
|
|
|
|
Deferred
revenues
|
|
1,043
|
|
1,348
|
|
Liabilities presented
at fair value and other long-term liabilities
|
|
890
|
|
1,037
|
|
Payment obligation
related to acquisitions
|
|
267
|
|
254
|
|
Accrued severance
pay
|
|
4,986
|
|
4,746
|
|
Total long-term
liabilities
|
$
|
7,186
|
$
|
7,385
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY:
|
|
|
|
|
|
Share capital -
Ordinary shares of NIS 0.4 par value -
|
|
1,885
|
|
1,876
|
|
Authorized:
32,500,000 shares at March 31, 2016 and
December 31, 2015; Issued and outstanding: 16,490,464
shares at March 31, 2016 and 16,406,243 shares at December
31, 2015
|
|
|
|
|
Additional paid-in
capital
|
|
146,288
|
|
144,836
|
|
Accumulated other
comprehensive loss
|
|
(883)
|
|
(1,137)
|
|
Accumulated
deficit
|
|
(110,872)
|
|
(107,284)
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
|
36,418
|
|
38,291
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
|
62,165
|
$
|
63,158
|
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
U.S. dollars in
thousands, except share and per share data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended
March
31,
|
|
|
|
|
|
|
2016
|
|
2015
|
|
|
|
|
Unaudited
|
|
|
|
|
|
|
|
|
Software
licenses
|
$
|
5,575
|
$
|
5,579
|
|
|
Maintenance and
services
|
|
6,165
|
|
4,801
|
|
|
Total
revenue
|
|
11,740
|
|
10,380
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
Cost of
revenues
|
|
2,058
|
|
1,238
|
|
|
Research and
development
|
|
3,300
|
|
2,196
|
|
|
Selling and
marketing
|
|
8,457
|
|
6,182
|
|
|
General and
administrative
|
|
1,130
|
|
1,556
|
|
|
Total operating
expenses
|
|
14,945
|
|
11,172
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
|
(3,205)
|
|
(792)
|
|
|
|
|
|
|
|
|
|
Financial expenses,
net
|
|
57
|
|
249
|
|
|
Loss before income
taxes
|
|
(3,262)
|
|
(1,041)
|
|
|
|
|
|
|
|
|
|
Taxes on
income
|
|
326
|
|
286
|
|
|
Net loss
|
|
(3,588)
|
$
|
(1,327)
|
|
|
|
|
|
|
|
|
|
Basic and diluted net
loss per share
|
|
(0.22)
|
$
|
(0.09)
|
|
|
Weighted average
number of shares used in computing basic and
diluted net loss per share
|
|
16,606
|
|
15,505
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
U.S. dollars in
thousands
|
|
|
Three months ended
March 31,
|
|
|
2016
|
|
2015
|
|
|
Unaudited
|
Cash
flows activities:
|
|
|
|
|
Net loss
|
$
|
(3,588)
|
$
|
(1,327)
|
Adjustments required
to reconcile net loss to net cash provided by
operating activities:
|
|
|
|
|
Depreciation
|
|
120
|
|
89
|
Stock based
compensation
|
|
1,145
|
|
446
|
Amortization of
intangible assets
|
|
696
|
|
502
|
Accretion of payment
obligation related to acquisition
|
|
24
|
|
50
|
Changes in fair value
of payment obligation related to acquisition
|
|
35
|
|
-
|
Change in:
|
|
|
|
|
Accrued
severance pay, net
|
|
24
|
|
61
|
Trade
receivables
|
|
(1,085)
|
|
1,041
|
Other
accounts receivable and prepaid expenses
|
|
(700)
|
|
(471)
|
Trade
payables
|
|
132
|
|
726
|
Deferred
revenues
|
|
1,389
|
|
1,531
|
Employees and payroll accruals
|
|
(446)
|
|
(313)
|
Accrued
expenses and other current liabilities
|
|
11
|
|
(204)
|
Change in liabilities
presented at fair value and other long term liabilities
|
|
(147)
|
|
(36)
|
Change in deferred
taxes, net
|
|
(10)
|
|
258
|
Other
|
|
38
|
|
-
|
Net cash provided by
(used in) operating activities
|
|
(2,362)
|
|
2,353
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
Purchase of property
and equipment
|
|
(211)
|
|
(133)
|
Acquisition of
company, net of cash acquired
|
|
-
|
|
(10,400)
|
Net cash used in
investing activities
|
|
(211)
|
|
(10,533)
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
Proceeds from
exercise of stock options, warrants and rights
|
|
51
|
|
83
|
Net cash provided by
financing activities
|
|
51
|
|
83
|
|
|
|
|
|
Foreign currency
translation adjustments on cash and cash equivalents
|
|
18
|
|
(25)
|
Increase in cash and
cash equivalents
|
|
(2,504)
|
|
(8,122)
|
Cash and cash
equivalents at the beginning of the period
|
|
12,522
|
|
18,959
|
Cash and cash
equivalents at the end of the period
|
$
|
10,018
|
$
|
10,837
|
Supplemental
disclosure of cash flow activities:
|
|
|
|
|
Cash paid during the
period for income taxes
|
$
|
574
|
$
|
621
|
Non cash
activities:
|
|
|
|
|
Issuance of shares
related to acquisitions
|
|
224
|
|
7,072
|
RECONCILIATION OF
SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION
|
U.S. dollars in
thousands, except share and per share data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
March 31, 2016
|
|
Three months ended
March 31, 2015
|
|
|
Unaudited
|
|
Unaudited
|
|
|
GAAP
|
Adj.
|
|
Non-GAAP
|
|
GAAP
|
Adj.
|
|
Non-GAAP
|
|
Software
licenses
|
5,575
|
|
|
5,575
|
|
5,579
|
|
|
5,579
|
|
Maintenance and
services
|
6,165
|
18
|
(a)
|
6,183
|
|
4,801
|
35
|
(a)
|
4,836
|
|
Total
revenue
|
11,740
|
|
|
11,758
|
|
10,380
|
|
|
10,415
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
2,058
|
673
|
(b), (c)
|
1,385
|
|
1,238
|
443
|
(b)
|
795
|
|
Research and
development
|
3,300
|
362
|
(b), (c)
|
2,938
|
|
2,196
|
100
|
(c)
|
2,096
|
|
Selling and
marketing
|
8,457
|
831
|
(b), (c)
|
7,626
|
|
6,182
|
254
|
(b), (c)
|
5,928
|
|
General and
administrative
|
1,130
|
251
|
(c)
|
879
|
|
1,556
|
712
|
(b), (c)
|
844
|
|
Total operating
expenses
|
14,945
|
|
|
12,828
|
|
11,172
|
|
|
9,663
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
(loss)
|
(3,205)
|
|
|
(1,070)
|
|
(792)
|
|
|
752
|
|
Financial expenses,
net
|
57
|
(123)
|
(d)
|
180
|
|
249
|
32
|
(d)
|
217
|
|
Income (loss) before
income taxes
|
(3,262)
|
|
|
(1,250)
|
|
(1,041)
|
|
|
535
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxes on
income
|
326
|
(167)
|
(e)
|
493
|
|
286
|
(49)
|
(e)
|
335
|
|
Net income
(loss)
|
(3,588)
|
|
|
(1,743)
|
|
(1,327)
|
|
|
200
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income
(loss) per share
|
(0.22)
|
|
|
(0.10)
|
|
(0.09)
|
|
|
0.01
|
|
Weighted average
number of shares
used in computing basic
net income (loss) per share
|
16,606
|
|
|
16,606
|
|
15,505
|
|
|
15,505
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income
(loss) per share
|
(0.22)
|
|
|
(0.10)
|
|
(0.09)
|
|
|
0.01
|
|
Weighted average
number of shares
used in computing diluted
net income (loss) per share
|
16,606
|
|
|
16,606
|
|
15,505
|
|
|
16,172
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Valuation adjustment
on acquired deferred services revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(b)
|
Acquisition-related
adjustments and amortization of intangible assets:
|
|
|
|
|
|
|
|
|
|
Three months ended
March 31,
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
Cost of
revenues
|
633
|
|
443
|
|
|
|
|
|
|
Research and
development
|
60
|
|
-
|
|
|
|
|
|
|
Selling and
marketing
|
279
|
|
59
|
|
|
|
|
|
|
General and
administrative
|
|
-
|
|
561
|
|
|
|
|
|
|
|
|
972
|
|
1,063
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(c)
|
Stock-based
compensation expenses under ASC 718 included in:
|
|
|
|
|
Cost of
revenues
|
|
40
|
|
-
|
|
|
|
|
|
|
Research and
development
|
|
302
|
|
100
|
|
|
|
|
|
|
Selling and
marketing
|
|
552
|
|
195
|
|
|
|
|
|
|
General and
administrative
|
|
251
|
|
151
|
|
|
|
|
|
|
|
|
1,145
|
|
446
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(d)
|
Accretion of payment
obligations related to acquisition and revaluation of liabilities
presented at fair value:
|
|
|
|
Revaluation of
liabilities presented at fair value
|
(147)
|
|
(18)
|
|
|
|
|
|
|
Acquisition-related
financial expenses
|
24
|
|
50
|
|
|
|
|
|
|
|
|
(123)
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(e)
|
Taxes related to
acquisitions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/attunity-reports-first-quarter-2016-results-300263546.html
SOURCE Attunity, Ltd.