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iAPPS Continues its Explosive Growth in License Sales
BURLINGTON, Mass., May 12, 2011 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ:BLIN), a provider in cloud-based Web Content Management, eCommerce and Marketing Automation software, announced that iAPPS related license sales have dramatically grown over the past 4 quarters. Fueled by the expansion of Bridgeline’s iAPPS’ customer base, the launch of the iAPPS Channel Partner Program, and the ability of iAPPS’ rich feature set to drive positive business outcomes, license sales during the 12 month period ended March 31, 2011 achieved an impressive 189% growth over license sales in the prior 12 month period ended March 31, 2010. During this same time, the iAPPS Product Suite was enhanced considerably with the releases of iAPPS Commerce and iAPPS Marketier, completing iAPPS’ core offerings and solidifying its position as a deeply integrated, market-leading web engagement management platform.
As of March 31, 2011, total iAPPS licenses sold is 315 and will quickly approach 400 in the coming months. This dramatic Increase in iAPPS licensing has been fueled by expansion of the iAPPS customer base that includes world-class organizations such as Honeywell, Sun Chemical, Tosoh, Shaw Industries, General Electric, Blue Cross Blue Shield, Partners Healthcare, Janney Montgomery Scott, Diversey, L’Oreal, Savings Bank Life Insurance Company (SBLI), Tennant, Franklin Sports, MF Global, CFO Magazine, Spectator Magazine, Marsh & McLennan, National Children’s Museum, the American Academy of Pediatrics, and the American Dental Association.
iAPPS is an Award Winning Product SuiteDuring this period of license expansion, iAPPS Content Manager was the winner of the 2010 CODiE Award for Best Content Management Solution globally, while the iAPPS Product Suite was recognized by KMWorld Magazine as a 2010 Trend Setting Product. Most recently, iAPPS Content Manager is again selected as a Finalist for the 2011 CODiE Award for Best Content Management Solution globally, while iAPPS Commerce is a Finalist for the 2011 CODiE Award for Best Electronic Commerce Solution globally.
Additionally, many mission critical websites developed on the iAPPS platform were honored with various industry awards. For example, the Janney Montgomery Scott website (www.janney.com) won an Interactive Media Award (IMA), a WebAward Standard of Excellence, and an Internet Advertising Competition (IAC) award, all in addition to the outstanding results the site has generated since migrating to iAPPS that include a 10-20% increase in website traffic along with a significant jump in Google and Bing search engine rankings. Ariel Moyer, Director of Communications at The National Children’s Museum (NCM), whose iAPPS-powered website (www.ncm.museum) was also a WebAward winner, says “the iAPPS platform provides outstanding capabilities and, overall, the NCM website has met or exceeded our objectives and is well positioned to continue to support the Museum.” Other websites platformed on iAPPS that recently won awards include Hooked on Phonics’ Learn to Read (learntoread.hookedonphonics.com), a MITX Award winner in the Education and Learning category; Bridgeline Digital’s own corporate website (www.bridgelinedigital.com), an Interactive Media Award winner and MITX Award finalist; and the Shaw Web Studio for Berkshire Hathaway subsidiary Shaw Industries (www.shawwebstudio.com), a Silver Horizon Award Winner.“We believe iAPPS is the most powerful web engagement management product suite in the market today,” says Thomas Massie, Bridgeline Digital Chairman and CEO. “iAPPS’ deep integration with Content Manager, Commerce, Marketier, and Analytics combined with its flexible deployment options truly makes it an asset to any Chief Marketing Officer.”
Non-GAAP Financial MeasuresThis press release contains the following non-GAAP financial measures: non-GAAP adjusted net income, non-GAAP adjusted earnings per diluted share, Adjusted EBITDA and Adjusted EBITDA per diluted share.
Non-GAAP adjusted net income and non-GAAP adjusted earnings per diluted share are calculated as net income or net income per share on a diluted basis, excluding, where applicable, impairment charges, amortization of intangible assets, stock based compensation and the related tax effects.
Adjusted EBITDA and Adjusted EBITDA per diluted share are defined as earnings before interest, taxes, depreciation and amortization and before stock compensation and impairment charges. Bridgeline uses Adjusted EBITDA as a supplemental measure of our performance that is not required by, or presented in accordance with, accounting principles generally accepted in the United States (“GAAP”). Bridgeline’s management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, Bridgeline management presents non-GAAP financial measures in connection with GAAP results. Bridgeline urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which is included in this press release, and not to rely on any single financial measure to evaluate Bridgeline's business.
Our definitions of non-GAAP adjusted net income and Adjusted EBITDA may differ from and therefore may not be comparable with similarly titled measures used by other companies, thereby limiting their usefulness as comparative measure. Because of the limitations that non-GAAP adjusted net income and Adjusted EBITDA have as an analytical tool, investors should not consider them in isolation, or as a substitute for analysis of our operating results as reported under GAAP.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions, including, but not limited to, the impact of the weakness in the U.S. and international economies on our business, our inability to manage our future growth effectively or profitably, fluctuations in our revenue and quarterly results, our license renewal rate, the impact of competition and our ability to maintain margins or market share, the limited market for our common stock, the volatility of the market price of our common stock, the performance of our products, our ability to respond to rapidly evolving technology and customer requirements, our ability to protect our proprietary technology, the security of our software, our dependence on our management team and key personnel, our ability to hire and retain future key personnel, our ability to maintain an effective system of internal controls, or risks associated with our contracts with the U.S. federal government, as well as other risks described in our filings with the Securities and Exchange Commission. Any of such risks could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. We expressly disclaim any obligation to update any forward-looking statement.
About Bridgeline Digital
Bridgeline Digital, The Digital Engagement Company™, helps customers maximize the performance of their full digital experience - from websites and intranets to online stores and campaigns. Bridgeline's Unbound (formerly iAPPS®) platform deeply integrates Web Content Management, eCommerce, eMarketing, Social Media management, and Web Analytics to help marketers deliver digital experiences that attract, engage, nurture and convert their customers across all channels. Headquartered in Burlington, Mass., Bridgeline has thousands of quality customers that range from small- and medium-sized organizations to Fortune 1000 companies. To learn more, please visit www.bridgeline.com or call (800) 603-9936.