ATEA $4.10 1 Million float could skyrocket on results tomorrow
Turning profitable very strong outlook. This was a $20 stock in 2005.
Reports Third Quarter 2010 Results
For the third quarter ended September 30, 2010, Astea reported revenues of $5.0 million compared to revenues of $4.8 million for the same period in 2009. Net loss for the third quarter was $.5 million or ($.16) per share, compared to a net loss of $.4 million or ($.12) per share for the same period in 2009. License revenues were $.7 million compared to $.4 million in 2009. Total service and maintenance revenues were $ 4.3 million compared to $4.4 million in 2009.
"We are pleased to see an increased level of business activity in Asia Pacific and EMEA. However, the US is still in a slow recovery from the current difficult economic downturn. While it is challenging to control the timing of our larger opportunities, due to their internal approval processes, we have a number of significant opportunities that are at the end of their sales cycle and are expected to close in the fourth quarter," said Zack Bergreen, CEO of Astea International. "Our outlook on future business is bright and growing. We expect to be profitable in the fourth quarter with increasing revenues in both licenses and professional services. The opportunities that we are actively engaged in around the world have significantly increased. Accordingly, we have a positive outlook for Q4 and well into 2011. Because of the new global customers we have added this year, as well as the international expansion of existing customers, we are building up a backlog of professional services activity that will have a positive financial impact moving forward. We have a strong global infrastructure, industry leading solution and a team of domain experts that make us unmatched in the industry today. Our customers and prospects are clearly looking to Astea when it comes to driving a consistent level of service delivery around the world and we are very proud to be their partner for success."
