| For the six months ended | |||||||||||||||
|
November 30,
|
November 30,
|
Change | |||||||||||||
| $ | % | ||||||||||||||
| Product revenue | $ | 270 | $ | 618 | $ | (348 | ) | -56.3 | % | ||||||
| Service revenue | 1,621 | 2,172 | (551 | ) | -25.4 | % | |||||||||
| Total revenue | 1,891 | 2,790 | (899 | ) | -32.2 | % | |||||||||
| Cost of sales | 877 | 634 | 243 | 38.3 | % | ||||||||||
| Gross margin | 1,014 | 2,156 | (1,142 | ) | -53.0 | % | |||||||||
| Gross margin % | 53.6 | % | 77.3 | % | |||||||||||
| R&D | 494 | 639 | (145 | ) | -22.7 | % | |||||||||
| SG&A | 1,362 | 1,747 | (385 | ) | -22.0 | % | |||||||||
| Gain on sale of CADRA product line | - | (649 | ) | 649 | - | ||||||||||
| Change in fair value of deferred payments | (60 | ) | - | (60 | ) | - | |||||||||
| Operating (loss) income | (782 | ) | 419 | (1,201 | ) | -286.6 | % | ||||||||
| Interest expense | 127 | 199 | (72 | ) | -36.2 | % | |||||||||
| Other expense (income) | 43 | (28 | ) | 71 | -253.6 | % | |||||||||
| (Loss) income from operations before income taxes | (952 | ) | 248 | (1,200 | ) | -483.9 | % | ||||||||
| Provision for income taxes | - | - | - | - | |||||||||||
| Net (loss) income | (952 | ) | 248 | (1,200 | ) | -483.9 | % | ||||||||
| Weighted average shares outstanding | 882 | 888 | (6 | ) | -0.7 | % | |||||||||
| Basic and diluted net income per share: | $ | (1.08 | ) | $ | 0.28 | $ | (1.36 | ) | -485.7 | % | |||||
| Reconciliation of Net (loss) income to EBITDA: | |||||||||||||||
| Net (loss) income | $ | (952 | ) | $ | 248 | $ | (1,200 | ) | -483.9 | % | |||||
| Plus tax expense | - | - | - | - | |||||||||||
| Plus interest expense | 127 | 199 | (72 | ) | -36.2 | % | |||||||||
| Plus non-cash expense related to product line sale | - | 3,261 | (3,261 | ) | - | ||||||||||
| Plus other non-cash expenses | 318 | 89 | 229 | 257.3 | % | ||||||||||
| EBITDA | $ | (507 | ) | $ | 3,797 | $ | (4,304 | ) | -113.4 | % | |||||
SofTech Announces Q2 FY 2015 Operating Results
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(in thousands,
except % and per share data)
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