Intraware, Inc. (NASD: ITRA), a leading provider of Internet-based business to business software for IT professionals and software vendors, recently announced its results from the second quarter of fiscal year 2009, ended August 31, 2008. Second quarter revenues totaled $3.4 million, compared to $3.2 million in the same period of fiscal 2008, and $3.2 million during the first quarter of fiscal 2009.
The company reported a net loss for the second quarter of fiscal 2009 of $105,000 or a loss of $0.02 per basic and diluted share, compared to net income of $144,000, or $0.02 per basic and diluted share during the corresponding quarter in the fiscal 2008. Intraware anticipates that revenues for the third quarter of fiscal 2009 will total between $3.4 million and $3.5 million. Despite the loss, the company generated positive cash flow from operations and achieved $4.7 million in contract renewals, new professional services statements of work, and variable billings.
Commenting during a recent conference call, Peter Jackson, chairman and chief executive officer of Intraware, stated, “Our second quarter results exceeded our expectations. Revenues increased, profit margins improved further and cash flow was positive. We increased our total annual contract value for SubscribeNet® customers by $400,000 to $11.9 million. This was the 8th consecutive quarter this metric has increased.” He added, “We continue to be cautiously optimistic regarding our opportunities within our existing customer base and with new customers.”
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