BroadVision Announces Second Quarter 2012 Results
BroadVision, Inc., a global leader in social business solutions, today reported financial results for its second quarter ended June 30, 2012. Earnings for the second quarter were $3.6 million, compared with earnings of $3.8 million for the first quarter ended March 31, 2012 and $4.0 million for the comparable quarter of 2011.
The second quarter of 2012
License revenue for the second quarter of 2012 was $1.2 million, compared with $1.4 million for the prior quarter and $1.1 million for the comparable quarter of 2011. The majority of the second quarter license and subscription revenue was generated from the company's BroadVision(R) Business Agility Suite(TM), Commerce Agility Suite(TM), QuickSilver(TM), and Clearvale(TM) solutions. Revenue while the quarter was generated from sales to both new and existing customers just as Centro Nazionale Trapianti, Double J Development, LLC, Gruppo Reti, Guidance International Ltd, Iberia L.A.E., Oreck Corporation, Real Estate Marketing Institute, Spoken Communications, Synaptics Inc., TechTree IT Systems Pvt Ltd., US Navy, Vias y Construcciones, S.A., and several other brand-name global clients.
"The transition from our legacy on-premise, software licensing business model to the new cloud-centric, subscription-based Clearvale enterprise social networking services continued to make solid progress while Q2," said Dr. Pehong Chen, President and CEO, BroadVision. "The most important milestone has been the introduction of the Clearvale Hybrid Network solution, which provides a unified platform for the enterprise to manage its complex social business ecosystem, empowering new B2B/B2C use cases and complementing ESN's core B2E usage. We look forward to expanding our global market reach with the complete suite of Clearvale offerings, including our PaasPort program for channel partners and our Social Enterprise Transformation program for ensuring successful end user adoption. As social business and cloud computing become mainstream, we believe Clearvale is so then positioned to dramatically change how people and businesses collaborate and along these lines transform the entire industry."
Driving research since 1993, BroadVision is an innovative provider of e-business and social networking solutions for organizations seeking to grow profitably by improving online business processes through invited participation and social interaction. Our solutions -- including Clearvale, the world's first network of networks for the socially driven enterprise -- enable mission-critical e-business for straightway-generation organizations around the globe. The clients benefiting from BroadVision(R) solutions include Aeroxchange Ltd., Centre for Railway Information Systems, Controller General of Defence Accounts, Fiat S.p.A., Front Burner Restaurants, Hilti AG, Iberia, Indian Railways Catering and Tourism Company, Kotak Mahindra Bank Ltd., Malayala Manorama Co. Ltd., Promart Retail India Pvt. Ltd., SINA, SOFTBANK TELECOM Corp., Thomas Cook India Ltd., Vodafone, and more. Visit www.BroadVision.com for more details.
BroadVision, Business Agility Suite, Commerce Agility Suite, QuickSilver, and Clearvale are trademarks or registered trademarks of BroadVision, Inc. in the United States and other countries. All other company names, product names, and marks are the property of their respective owners.
Information in this release that involves expectations, beliefs, hopes, plans, intentions or strategies regarding the future are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which forward-looking statements involve risk and uncertainties. All forward-looking statements included in this release, including statements about Clearvale's impact on users and the industry, are based upon information available to BroadVision as of the date of this release, and BroadVision assumes no obligation to update or correct any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from BroadVision's current expectations. Various factors and risks associated with BroadVision's business are discussed in its most recent annual report on Form 10-K and in BroadVision's quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission.
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