Business software provider Unify Corp. (UNFY) Monday reported a net loss for the second quarter as compared with a profit in the comparable period last year, despite an increase in revenues. The loss reflects higher operating costs and one-time non-cash expenses. The company also raised its guidance for fiscal 2010.
For the second quarter, the Roseville, California-based company's net loss was $1.40 million or $0.14 per share compared with a net income of $725 thousand or $0.10 per share in the prior-year period.
On an adjusted basis, net earnings plunged to $187 thousand or $0.02 per share from $1.07 million or $0.14 per share in the 2009-year period.
Adjusted results exclude amortization of intangible assets totaling $640 thousand compared to $180 thousand a year ago, and one-time cost of $163 thousand with regard to non-cash loss associated with subsidiary liquidation and one-time acquisition related costs amounting to $604 thousand.
Total revenues for the period increased 22% to $7.09 million from $5.80 million in the second quarter of fiscal 2009.
Service revenues were $3.99 million versus $3.17 million in the previous year, and revenues from migration solutions surged to $1.68 million from $644 thousand in the last year quarter. However, revenues from software licenses slumped to $1.41 million from $1.99 million a year earlier.
Unify's gross margin was 79% compared to 87% in the second quarter of previous year.
During the three-month period, total operating expenses increased to $6.89 million from $4.02 million in the corresponding period prior year. Product development costs for the quarter were $1.75 million versus $682 thousand, and selling, general and administrative expenses rose to $5.13 million from $3.34 million in the same quarter last year.
For the first half of 2010, the company posted a net loss of $3.63 million or $0.39 per share compared to a profit of $1.12 million or $0.15 per share in the year-ago period. Adjusted net loss was $682 thousand or $0.07 per share as compared with a profit of $1.79 million or $0.23 per share in the first half of 2009. Total revenues for the six-month period increased 7% to $11.60 million from $10.83 million in the comparable period prior year.
Looking ahead to full year 2010, Unify currently expects adjusted net earnings to be between $3 million and $5 million, up from its prior expectations of $2.0 million to $4.5 million. The company anticipates full year revenues to be in a range of $28 million to $31 million, higher than its previous guidance of $23.5 million to $28.5 million.
Chief executive officer Todd Wille said, "With the release of our new version of Team Developer and other planned product releases, we are optimistic that our core software business will return to normal levels for the remainder of fiscal 2010."
In Friday's regular trading session, UNFY closed trading at $2.95 per share on the Nasdaq. In the past 52-week period, the shares have been trading in a range of $1.24 to $3.90.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.