TigerLogic Corporation announced financial results for the fourth quarter and fiscal year ended March 31, 2015. Q4 total revenues were $1.5 million, an increase of 27% when compared to $1.2 million for the same period in the prior year.
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Total revenue for the full fiscal year 2015 was $7 million, an increase of 27% when compared to the prior year's revenue of $5.5 million.
Subscription revenues related to the Postano product line were $0.7 million for the fourth fiscal quarter, an increase of 176% compared to the prior year quarter and $2.4 million for the full fiscal year 2015, an increase of 104% from the prior year.
Net loss for the fourth quarter ended March 31, 2015 was $2.2 million, or $0.07 per share, compared to net loss of $2.7 million, or $0.09 per share, for the fourth quarter of the prior year.
Net loss for the year ended March 31, 2015 was $28.7 million, or $0.93 per share, compared to net income of $1.3 million, or $0.04 per share, for the same period in the prior year.
During the current fiscal year, the company recorded a goodwill impairment charge of $18.2 million, while during the prior year it recorded income from discontinued operations of $8.6 million.
Operating expenses for the fourth quarter ended March 31, 2015 were $3.7 million, compared to $4.9 million for the same quarter in the prior year. Operating expenses in the fourth quarter of 2015 included non-recurring costs of $0.4 million associated with headcount reductions and facilities consolidations.
Operating expenses in the third fiscal quarter of 2015 were $22.3 million, or $4.1 million excluding the goodwill impairment charge of $18.2 million recorded during that quarter.
Adjusted EBITDA was negative $2.1 million for the fourth fiscal quarter ended March 31, 2015, a 40% improvement as compared to negative $3.5 million for the same period in the prior year. For the years ended March 31, 2015 and March 31, 2014, Adjusted EBITDA was negative $9.5 million.
The company had cash of $10.3 million as of March 31, 2015, down $2.6 million from $12.9 million as of December 31, 2014. ■