PERVASIVE SOFTWARE INC (PVSW) SEC Filing 10-K Annual report for the fiscal year ending Saturday, June 30, 2012

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Exhibit 99.1

 

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Contact:

Randy Jonkers

Chief Financial Officer

800.287.4383

investor.relations@pervasive.com

Pervasive Software Reports Results for Its Fourth Quarter of Fiscal Year 2012

Company Reports 46th Consecutive Profitable Quarter

AUSTIN, TexasJuly 24, 2012Pervasive Software® Inc. (NASDAQ: PVSW), a global leader in cloud-based and on-premises data innovation, today announced financial results for the fourth quarter ending June 30, 2012.

For the fourth quarter ended June 30, 2012:

 

   

Revenue was $12.8 million, consistent with the company’s $12.0 million to $13.0 million expectations communicated on April 24, 2012, and compared to $13.7 million for the fourth quarter of last fiscal year. As a reminder, the company closed a relatively large transaction with a database customer representing approximately $0.9 million in revenue near the end of the June quarter of the previous fiscal year.

 

   

Net income was $0.4 million, or $0.03 diluted earnings per share, consistent with expectations in the range of $0.02 to $0.05 communicated on April 24, 2012, and compared to net income of $1.2 million, or $0.07 diluted earnings per share, for the fourth quarter of last fiscal year.

 

   

On a non-GAAP basis, as described below, Pervasive realized net income of $1.0 million, or $0.06 diluted earnings per share, consistent with expectations in the range of $0.04 to $0.07 communicated on April 24, 2012, and compared to net income of $1.4 million, or $0.08 diluted earnings per share, in the fourth quarter of last fiscal year. Non-GAAP results exclude amortization of purchased intangibles and stock-based compensation expense, and assume a non-GAAP effective tax rate of 34%.

Pervasive continued to generate positive cash flow from operations with approximately $1.1 million in the fourth quarter, ending the quarter with approximately $42.7 million in cash and marketable securities. Pervasive acquired approximately 25,000 shares of Pervasive common stock on the open market at a total cost of approximately $0.2 million, or approximately $6.24 weighted average price per share, during the quarter ended June 30, 2012. The company has approximately $1.4 million authorized repurchase funds remaining under its $10.0 million stock repurchase program announced in July 2010. Depending on market conditions and other factors, such purchases may be commenced or suspended at any time without prior notice. Issued and outstanding shares of common stock as of June 30, 2012 totaled approximately 16.4 million.


The following information was filed by PERVASIVE SOFTWARE INC on Tuesday, July 24, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Exhibit 21.1 - SUBSIDIARIES OF THE COMPANY

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Exhibit 23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

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Exhibit 31.1 - RULE 13A-14(A)/15D-A4(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER

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Exhibit 31.2 - RULE 13A-14(A)/15D-A4(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER

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Exhibit 32.1 - CERTIFICATIONS FOR CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

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  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0001193125-12-379356
  • Submitted to the SEC: Tuesday, September 4, 2012 5:22:45 PM EST
  • Accepted by the SEC: Tuesday, September 4, 2012
  • Fiscal Year ending: June 2012
  • Industry: Prepackaged Software