KING OF PRUSSIA, Pa., Aug. 14 /PRNewswire-FirstCall/ -- SEDONA(R) Corporation (BULLETIN BOARD: SDNA) (http://www.sedonacorp.com/), a leading provider of Customer and Member Relationship Management (CRM/MRM) solutions for small and mid-size financial services organizations, today announced operating results from the second fiscal quarter, ended June 30, 2006.
Revenues for the second quarter 2006 increased 35% to $310,000 compared to $229,000 reported in the same quarter of 2005. For the six months ended June 30, 2006, revenues totaled $778,000 compared to $386,000 a year ago, a 102% increase over the prior year. The Company reported a gross profit of $226,000 or 73% of revenues in the second quarter compared to $180,000 or 78% of revenues reported in the same period a year ago. For the first six months of 2006, gross profit increased to $630,000 or 81% of revenues versus $254,000 or 66% of revenues reported last year.
As of June 30, 2006, the Company recorded a 47% increase in current and non-current accounts receivable and associated deferred revenue for monthly subscription fees that will be recognized ratably over the contract terms. As of June 30, 2006, deferred subscription fees totaled $294,576 compared to $201,003 reported as of March 31, 2006.
Operating expenses for the second quarter 2006 decreased to $638,000 compared to $737,000 a year ago. For the six-month period ended June 30, 2006, operating expenses decreased to $1,357,000 versus $1,558,000 in the comparable period a year ago.
Net loss applicable to shareholders decreased to $568,000, or ($0.01) per share, compared to $709,000, or ($0.01) per share, reported as of June 30, 2005. For the six-month period ended June 30, 2006, net loss applicable to shareholders decreased to $1,018,000, or ($0.01) per share, versus $1,593,000, or ($0.02) per share reported in 2005, a 36% improvement year over year.
As a reminder, SEDONA will hold its annual meeting of shareholders on August 17, 2006, at 2:00 pm EDT. The meeting will be held at the Hyatt Regency on Capitol Hill, 400 New Jersey Ave NW, Washington, DC. All shareholders and interested parties are invited to attend.
For those who cannot attend, but wish to hear the presentation, there will be a listen-only conference call. To participate in the conference call, dial 1-800-794-0127 (US or Canada) or 1-641-297-7760 (International) about 5 to 10 minutes prior to the 2:00 pm EDT conference call, and ask for the 'SEDONA Annual Meeting.' Callers will be required to give their complete name, affiliation, and phone number to the operator to participate in the call. You will hear the full Annual Meeting, which will include a presentation by Marco Emrich, President and CEO of SEDONA, and a Q&A session held with attendees.
For more information regarding SEDONA's Q2 2006 results, please refer to the Company's Form 10-Q filed with the Securities and Exchange Commission on August 14, 2006.
About SEDONA Corporation
Community and regional banks, credit unions, and insurance companies utilize SEDONA(R) Corporation's (BULLETIN BOARD: SDNA) multi-vertical, web-based customer/member relationship management (CRM/MRM) solution, Intarsia(R). Intarsia is specifically designed and priced for small and midsize financial services businesses and is easily tailored for each individual organization. The software includes state-of-the-art features such as cross-sell and next best product and services recommendation, customer retention prediction, contribution/profit management, process management, contact and referral management and campaign management. By utilizing SEDONA's CRM/MRM software and complementary services, SEDONA's clients effectively identify, acquire, foster, and retain loyal, profitable customers.
Leading financial services solution providers such as Fiserv Solutions, Inc., Open Solutions Inc., COCC, FNF/Sanchez Computer Associates, Inc., ACEncrypt Solutions, LLC and Optria LLC leverage SEDONA's CRM/MRM technology to offer best-in-market CRM/MRM to their own clients and prospects.
SEDONA Corporation is also the Preferred Partner for MRM technology for the National Association of Federal Credit Unions (NAFCU) Services Corporation.
For additional information, visit the SEDONA web site at http://www.sedonacorp.com/ or call 1-800-815-3307.
Forward-Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," or "expects" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
SEDONA(R) and Intarsia(R) are registered trademarks of SEDONA Corporation.
All other trade names are the property of their respective owners.
This press release and prior releases are available on the
SEDONA Corporation web site at http://www.sedonacorp.com/.
