SofTech Announces Q4 and FY 2014 Operating Results

LOWELL, Mass. — (BUSINESS WIRE) — October 7, 2014 — SofTech, Inc. (OTC: SOFT), a proven provider of Product Lifecycle Management (PLM) solutions today filed its Form 10-K with the Securities and Exchange Commission and announced its fourth quarter and full year operating results. In addition, the Company announced that since the end of the fiscal year it had completed an $800,000 private placement and a $750,000 long term debt agreement. Lastly, the Company provided estimated guidance for fiscal 2015 operating results.

Fiscal Year 2014 Results. For fiscal year 2014, the Company generated revenue of approximately $5 million, incurred a net loss of approximately $(748,000) or $(0.85) per share and generated EBITDA of approximately $3.1 million. In the prior fiscal year, the Company generated revenue of approximately $6.4 million, net income of approximately $360,000 or $0.35 per share and generated EBITDA of approximately $1.1 million. The financial results of prior fiscal periods are less meaningful for comparison purposes due to the Company’s sale of its CADRA product line during fiscal year 2014.

Fiscal year 2014 represented the thirteenth consecutive fiscal year in which the Company generated positive EBITDA as depicted in the following table (in thousands):

                   
Non-Cash Expenses
Fiscal Net Depreciation Interest and
Year     Income(Loss)     & Amortization     Goodwill (A)     Tax Expense     EBITDA
 
2002 $ (2,680 ) $ 2,927 $ - $ 1,288 $ 1,535
2003 (1,852 ) 2,323 - 1,140 1,611
2004 (1,853 ) 2,585 - 1,015 1,747
2005 (1,425 ) 2,533 - 903 2,011
2006 (1,333 ) 1,936 - 1,217 1,820
2007 (1,222 ) 1,469 - 1,460 1,707
2008 (306 ) 1,430 - 1,302 2,426
2009 1,321 532 - 776 2,629
2010 673 176 - 605 1,454
2011 (222 ) 595 355 538 1,266
2012 444 156 - 323 923
2013 360 341 - 357 1,058
2014 (748 ) 284 3,305 253 3,094
 
(A) Goodwill expensed upon the sale of the AMT and the CADRA product lines in 2011 and 2014, respectively.
 

1 | 2 | 3 | 4  Next Page »



Review Article Be the first to review this article
Rand3D

IMTS 2018 Register Now>>

Featured Video
Jobs
Mid-Level Mechanical Engineer for Kiewit at lenexa, Kansas
Mechanical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
Upcoming Events
29th Design Engineering & Manufacturing Solutions Expo (DMS) at Tokyo Big Sight 3-11-1 Ariake, Koto-ku Tokyo Japan - Jun 20 - 22, 2018
ACMEE 2018 at Chennai Trade Centre Mount Poonamallee Road, Nandambakkam Chennai India - Jun 21 - 25, 2018
Inside 3D Printing Seoul 2018 at Korea International Exhibition Center (KINTEX), Hall 5 408 Hallyuworld-ro, Ilsanseo-gu, Goyang-si, Gyeonggi-do Goyang Korea (South) - Jun 27 - 29, 2018
Kenesto: 30 day trial



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise