Business News

TigerLogic Corporation Announces Fiscal 2009 First Quarter Results

Wednesday 13. August 2008 - TigerLogic Corporation (NASDAQ:TIGR) today announced financial results for the first quarter of fiscal year 2009. Net revenue for the quarter ended June 30, 2008 was $4.6 million as compared to $5.0 million for the same period in the prior fiscal year. Net loss for the quarter ended June 30, 2008 was $1.5 million as compared to a net loss of $0.2 million for the same period in the prior fiscal year.

Loss per share was $0.06 for the quarter ended June 30, 2008 as compared to a loss per share of $0.01 in the same period in the prior fiscal year. Cash balance was $12.1 million at June 30, 2008 as compared to $11.3 million at June 30, 2007.

Earnings before interest, taxes, depreciation, and amortization (“EBITDA”) for the quarter ended June 30, 2008 was negative $0.9 million, or (21%) of net revenue, as compared to $0.2 million, or 4% of net revenue, for the same period in the prior fiscal year. The decrease in EBITDA was a result of decreased database license revenue and increased operating expenses relating to the introduction of the new TigerLogic ChunkIt! product. The Company computes EBITDA, as reflected in the table appearing at the end of this press release, by adding depreciation, amortization, non-cash stock-based compensation expense, interest (income) expense, other (income) expense, and income tax provision to its GAAP reported net loss.