Selectica achieved great product momentum in fiscal 2012, with its increased R&D investment bearing fruit in the form of new and differentiated product offerings. Among the other steps the company took in its ongoing shift to a cloud-based business model was the strengthening of its management team. Business highlights from FY2012 include:
•Introduction of Selectica Guided Selling: In the fourth quarter of FY2012, the company introduced Selectica Guided Selling, software that makes the company's patented sales configuration and rule modeling technology available as a cloud-based service. Selectica Guided Selling enables the salespeople and channel partners of growing, mid-tier companies to configure and price deals that move more efficiently through the pipeline and close more quickly.
•Release of Selectica CLM 5: In FY 2012, the company introduced a major new release of its flagship contract management product, Selectica Contract Lifecycle Management 5. It then rolled out three follow-on releases, amplifying functionality in areas such as mobile, authoring, reporting, and e-signature.
•Global settlement with Versata Enterprises: In FY 2012, Selectica entered into a comprehensive settlement agreement with Versata Enterprises to close out all prior claims between the two companies. The agreement included a mutual cross license of patents, a mutual release of claims against the other, and a mutual covenant not to sue, restricting future claims.
•Recognition by Forrester Research as leader in sell-side contract management: Also in FY2012, Forrester Research recognized Selectica as "a perfect fit for those companies focused on the sell-side, seeking a subscription model, and/or running salesforce.com" in its product evaluation report, The Forrester Wave: Contract Life-Cycle Management, Q2 2011.
•Growth of leadership team: As part of its ongoing transition to being a cloud-based solutions provider, Selectica strengthened its leadership team in FY2012, adding professionals who have demonstrated success in developing, delivering, marketing, and selling cloud software to growing, mid-tier organizations and who have the experience and skills to help the company achieve its growth objectives.
Total revenues for the fourth quarter of fiscal 2012 were $3.2 million compared to $3.3 million for the third quarter of fiscal 2012 and $3.7 million for the fourth quarter of fiscal 2011. For the full year fiscal 2012, Selectica reported revenue of $13.8 million, compared to $14.5 million for the full year fiscal 2011.
Net loss for the fourth quarter of fiscal 2012 was $2.2 million, or $(0.78) per share, compared to a net loss of $1.4 million, or $(0.52) per share, in the third quarter of fiscal 2012 and net loss of $353,000, or $(0.12) per share, in the fourth quarter of fiscal 2011. Net loss for the full year fiscal 2012 was $6.3 million, or $(2.25) per share, compared to a net loss of $1.5 million, or $(0.53) per share for the full year fiscal 2011.
Complete financial results for the fiscal fourth quarter and fiscal year 2012 can be found in the attached financial tables.
About Selectica, Inc.
Selectica, Inc. (NASDAQ: SLTC) develops innovative software that the world's most successful companies rely on to improve the effectiveness of their sales and contracting processes. Our guided selling, sales configuration, and contract lifecycle management solutions support the Global 2000 and growing mid-size firms in closing billions of dollars' worth of business each year. Our patented technology, delivered through the cloud, makes it easy for customers in industries like high-tech, telecommunications, manufacturing, healthcare, financial services, and government contracting to overcome product and channel complexity, increase deal value, and accelerate time to revenue. For more information, visit www.selectica.com.
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