TiS
Top Image Systems

Overview

TIS's founder and Chairman of the Board, Mr. Izhak Nakar and CEO, Dr. Ido Schechter open the trade in Tel Aviv Stock Exchange, December 3, 2006 

 Top Image Systems 2009 third quarter results were released on November 10, 2009 

Results Highlights

  • Sequential revenue growth of 4% to $5.9 million
  • Gross margin of 61%, highest in two years
  • Non-GAAP operating profit of $371,000
  • Non-GAAP net income of $601,000
  • Non-GAAP EPS of $0.06
  • Positive operating cash flow of $250,000
  • Strong performance in North American and European regions
  • Sales pipeline continues to grow and diversify, with an increased portion of larger deals 

Third Quarter 2009 Results

Revenues for the third quarter of 2009 reached $5.9 million. This represents an increase of 4% compared with the prior quarter and a decrease of 29% compared with that of the third quarter of 2008. Revenues in 2008 included a large portion of hardware and third party sales, which were discontinued in 2009 in line with the Company’s strategy to increase profitability and margins.

Gross margins in the quarter grew to 61% compared with 58% in the prior quarter and 53% in the third quarter of 2008.

Non-GAAP net income for the third quarter of 2009 totaled $0.6 million, compared to non-GAAP net income of $0.3 million in the prior quarter and non-GAAP net loss of $0.6 million in the third quarter of 2008.

Non-GAAP earnings per share in the third quarter of 2009 were $0.06, compared with non-GAAP earnings per share of $0.03 in the prior quarter and non-GAAP loss per share of $0.07 in the third quarter of 2008.

Net loss, on a GAAP basis, for the third quarter of 2009 totaled $0.2 million or $0.02 per share, compared to a net loss of $1.7 million or $0.18 per share in the second quarter of 2009 and a net loss of $1.0 million or $0.11 per share in the third quarter of 2008.

 

Information request form

First name *

Last Name *
Company * Job title *
Country * Phone *
Email *  

Fields Marked with an asterisk (*) are required

Back to Top