SAN JOSE, CA--(Marketwire - April 23, 2008) - Selectica, Inc. (NASDAQ: SLTC), a leading
provider of enterprise contract lifecycle management (CLM) and sales
configuration solutions, today announced preliminary financial results for
the fourth fiscal quarter ended March 31, 2008. Selectica currently
expects to report revenue of approximately $3.0 million and a net loss of
approximately $(0.09) per share. As of March 31, 2008, cash, cash
equivalents and investments were approximately $35.2 million.
"Our fourth quarter results did not meet our expectations," said Robert
Jurkowski, Chairman and Chief Executive Officer of Selectica. "The results
were impacted by leadership transitions within both of our business units
and by the terms of a significant contract that did not enable for any
revenue to be recognized in the quarter."
"An important part of our go to market strategy is to build a leveraged
distribution model with leading partners that enable us to extend our reach
to new vertical markets and new customers," continued Jurkowski. "I am
very excited by the landmark partnership agreement we signed with Accenture
in the recent quarter. We are working together exclusively on a worldwide
basis to take our products to targeted global companies in the life
sciences industry. Through this partnership, we signed a significant deal
with one of the world's largest pharmaceutical companies in the quarter.
However, due to contractual terms, we did not recognize any revenue in the
quarter but expect to do so in future periods."
Selectica's fiscal 2009 guidance for the 12 month period ending March 31,
2009 is for revenue of approximately $25 million and net income of 8% to
10% of revenue. The company expects to become profitable on a quarterly
basis during the second half of fiscal 2009.
"The outlook for our businesses is promising," concluded Jurkowski.
"Demand for our products is strong. We are selectively making investments
that I believe will accelerate our ability to capture the significant
market opportunity. While we were able to deliver revenue growth for the
full year and the fourth quarter compared with the same periods in the
previous year, the nature of our business is such that future quarterly
revenue growth may not be smooth. We will discuss our outlook for fiscal
2009 in greater detail during our conference call on May 12."
The company will report financial results for the fourth fiscal quarter
ended March 31, 2008 after the close of the market on Monday, May 12, 2008.
Selectica will host a conference call to discuss its financial results and
operational highlights at 5:00 p.m. EDT (2:00 p.m. PDT) on Monday, May 12,
Members of the public are invited to listen to the Company's conference
call via a live webcast. To hear the webcast, visit the Investor Relations
page of the Company's website at http://www.selectica.com. To access the
live conference call by phone, dial (800) 218-0204. Participants are asked
to call the assigned number approximately 10 minutes before the scheduled
starting time. For those unable to participate in the live conference
call, starting two hours after the call a replay will be available by
visiting the Investor Relations page of the Company's website or by dialing
(800) 405-2236 and entering the pass code 11111838#.
About Selectica, Inc.
Selectica, Inc. (NASDAQ: SLTC) provides enterprise-class software solutions
for sales configuration and contract lifecycle management. Selectica's
contract management software solutions enable companies to manage critical
business functions including contract administration, sourcing,
procurement, governance, sales, revenue recognition, healthcare, and
provide enterprise-wide visibility to key stakeholders such as General
Counsel and executive management. Selectica's Sales Configuration Solutions
simplify and automate the configuration, pricing, and quoting of complex
products and services. For over 10 years, Selectica has helped its
customers generate substantial savings. Selectica customers represent
leaders in manufacturing, technology, finance, retail, real estate,
insurance, healthcare, semiconductor and telecommunications, including:
ABB, ADP, Accenture, Bell Canada, Cisco, Covad Communications, Fujitsu,
General Electric, Fireman's Fund Insurance Company, Host Hotels, IBM,
Juniper Networks, Reliance Industries, Rockwell Automation, Tellabs, and
Walt Disney. Selectica is headquartered in San Jose, CA. For more
information, visit the company's Web site at www.selectica.com.
The statements contained in this release that are not purely historical are
forward-looking statements within the meaning of Section 21E of the
Securities and Exchange Act of 1934, including statements regarding
Selectica's and its customers' expectations, beliefs, hopes, intentions or
strategies regarding the future and expectations regarding performance
improvements or increases in sales attributable to Selectica's existing and
new products. All forward-looking statements included in this release are
based upon information available to Selectica as of the date hereof, and
Selectica assumes no obligation to update any such forward-looking
statement. Actual results could differ materially from current
expectations. Factors that could cause or contribute to such differences
include, but are not limited to, (i) market and customer acceptance of
Selectica products including the contract management and sales
configuration products, (ii) the success of the ongoing restructuring of
Selectica's operations, (iii) and potential regulatory inquiries and
litigation relating to the review of past stock granting practices and the
related restatement of the Company's financial statements and (iv) other
factors and risks discussed in Selectica's Annual Report on Form 10-K for
the fiscal year ended March 31, 2007 and in other reports filed by
Selectica with the Securities and Exchange Commission.
Contact Information: Contact:
Selectica Public Relations