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PRESS
RELEASE
Contact
Information
Raining
Data Corporation
25A Technology Drive
Irvine, CA 92618
Brian C. Bezdek, Chief Financial Officer
Phone: (949) 442-4400
Fax: (949) 250-8187
brian.bezdek@rainingdata.com
RAINING
DATA CORPORATION ANNOUNCES
FISCAL 2006 SECOND QUARTER RESULTS
IRVINE,
CA. - November 11, 2005
Raining
Data Corporation (Nasdaq: RDTA) today announced financial results
for the second quarter of fiscal year 2006. Net revenues for
the three and six-month periods ended September 30, 2005 were
$4.6 million and $9.9 million as compared to $5.1 million and
$10.3 million for the same three and six-month periods in the
prior year. The Company’s quarter and year-to-date operating
loss was $0.5 million and $0.4 million for the three and six-month
periods ended September 30, 2005 and $0.3 million and $0.4 million
for the three and six-month periods ended September 30, 2004,
respectively. Loss per share was $0.04 for the current year
quarter as compared to $0.03 in the prior year quarter and was
$0.05 for the both six-month periods ended September 30, 2005
and 2004.
Cash
balance was $10.1 million at September 30, 2005 compared to
$8.6 million at September 30, 2004. Working capital was $4.3
million at September 30, 2005, up $0.6 million from $3.7 million
at September 30, 2004. The Company computes working capital
as total current assets less current liabilities.
Earnings
before interest, taxes, depreciation, and amortization (“EBITDA”)
for the quarter was negative $0.5 and negative $0.3 million
for the three and six months ended September 30, 2005 as compared
to $0.5 and $1.1 million for the same periods in the prior year,
primarily as a result of increased R&D expenditures of $1.1
million in the current year. The Company computes EBITDA, as
reflected in the table appearing at the end of this press release,
by adding depreciation, amortization, non-cash stock-based compensation
expense, interest expense, other (income) expense and income
taxes to its GAAP reported net income (loss).
About
Raining Data
Raining
Data Corporation (Nasdaq: RDTA), headquartered in Irvine, California,
offers enterprise-grade XML database management and information
aggregation software solutions and has been providing reliable
data management and rapid application deployment solutions for
ISVs and developers of database applications for more than three
decades. Raining Data's flagship products include: 1) The High-performance
TigerLogic® XML Data Management Server (XDMS),
which provides flexible, scalable and extensible XML data storage
as well as query and retrieval of critical business data across
a variety of structured and unstructured information sources,
delivering mid-tier scalability and transactional integrity
across heterogeneous enterprise databases as well as dynamic
extensibility and ease of use, mostly found in repositories
and file systems; 2) Powerful Pick® Universal
Data Model (Pick UDM) based database management systems and
components, including D3®, mvEnterprise®
and mvBase® that are the choice of more than
a thousand application developers worldwide and .NET Integration
components including the Pick Data Provider for .NET and the
Pick Reporting Services Connector; and 3) Omnis Studio®,
a powerful, cross-platform, object-oriented RAD tool for developing
sophisticated thick-client, Web-client or ultra thin-client
database applications.
®Raining
Data’s installed customer base includes more than 500,000 active
users representing over 20,000 customer sites worldwide, with
a significant base of diverse vertical applications. With more
than 160 employees and contractors in five countries, Raining
Data offers 24x7 customer support and maintains a strong international
presence. More information about Raining Data Corporation and
its products can be found at www.rainingdata.com.
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Except
for the historical statements contained herein, the foregoing
release may contain forward-looking statements. These forward-looking
statements are subject to risks and uncertainties, and actual
results could differ materially due to several factors, including
but not limited to the success of the Company’s research and
development efforts to develop new products and to penetrate
new markets, the market acceptance of the Company’s new products
and updates, technical risks related to such products and updates,
the Company’s ability to maintain market share for its existing
products, the availability of adequate liquidity and other risks
and uncertainties. Please consult the various reports and documents
filed by Raining Data Corporation with the U.S. Securities and
Exchange Commission, including but not limited to the Company’s
most recent reports on Form 10-KSB and Form 10-QSB for factors
potentially affecting the Company’s future financial results.
All forward-looking statements are made as of the date hereof
and the Company disclaims any responsibility to update or revise
any forward-looking statement provided in this news release.
The Company’s results for the quarter ended September 30, 2005
are not necessarily indicative of the Company’s operating results
for any future periods.
Raining
Data, Pick, mvDesigner, D3, mvEnterprise, mvBase,
Omnis, Omnis Studio and TigerLogic are trademarks of Raining
Data Corporation. All other trademarks and registered trademarks
are properties of their respective owners.
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