ATTUNITY LTD
(Name of Registrant)
Kfar Netter Industrial
Park, Kfar Netter, Israel 40593
(Address of Principal
Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- __________
This Form 6-K is being incorporated by reference into the Registrant’s Form F-3 Registration Statements File Nos. 333-11972, 333-14140, 333-119157 and 333-122937 and Form S-8 Registration Statements File Nos. 333-84180, 333-932, 333-11648, 333-122271 and 333-122302.
ATTUNITY LTD
6-K Items
| 1. | Press release re Attunity Reports Fourth Quarter 2005 Results; |
ITEM 1
| For more information: | |
| Daniel Sapir, VP Marketing | Ofer Segev, CFO |
| Attunity | Attunity |
| 781-213-5204 | 781-213-5203 |
| daniel.sapir@attunity.com | ofer.segev@attunity.com |
ATTUNITY REPORTS Fourth Quarter 2005 Results
Attunity Sets All-time Q4 Sales Record
BURLINGTON MA, January 25, 2006 – Attunity, Ltd. (NASDAQ: ATTU), a leading provider of enterprise information integration software, today reported its financial results for the fourth quarter ended December 31, 2005.
Revenues for the fourth quarter of 2005 were $3,973,000, representing an increase of 16% over revenues of $3,426,000 in the fourth quarter of 2004. Operating loss for the fourth quarter of 2005 was $658,000 compared with an operating loss for the fourth quarter of 2004 of $820,000. Net loss from continued operations for the fourth quarter of 2005 was $1,047,000 or ($0.06) per share compared with net loss from continued operations for the fourth quarter of 2004 of $1,007,000 or ($0.07) per share.
Revenues in fiscal 2005 increased 11% to $15,149,000 from $13,637,000 for the same period in the prior year. Operating loss for 2005 was $2,493,000 compared with an operating loss for 2004 of $3,387,000. Net loss from continued operations in 2005 was $3,500,000 or ($0.21) per share, compared with net loss from continued operations of $3,892,000 or ($0.26) per share in 2004.
“I am extremely pleased with our record-setting quarterly results,” stated Aki Ratner, Attunity CEO. “More importantly however was that we achieved all our major goals for 2005. First of all, we released Attunity InFocus, which is a major milestone towards achieving our strategic vision. Secondly, we presided over significant improvements in our overall sales execution. And not least of all, we signed a major OEM agreement with one of the world’s key software vendors. Clearly we have built solid foundations for the future.”
| — | License revenue increased 36% over the fourth quarter of 2004 |
| — | Direct license sales growth of over 28% year over year |
| — | Record license sales in USA |
| — | New product - first customer win for Attunity InFocus |
| — | Major customer wins across industry segments, as represented by: State of New Jersey, Dole, Michelin, LaBarge, Johnson & Johnson, Barclays and Mercer |
| — | Released Attunity InFocus, one of the first Operational Business Intelligence solutions that enables managers to have full control of their daily operations |
| — | License revenue increased 15% over 2004 |
| — | Completed a strategic OEM agreement with one of the world leading software vendors |
| — | Discontinued all non-core business operations |
“Moving forward,” continued Mr. Ratner, “2006 will be a key transition year for Attunity. The company will move from being primarily a provider of enabling technology, to a reliable source of business solutions that quickly meet critical needs. Together with the foundations laid in 2005, Attunity finds itself in a strong position for 2006.”
Attunity Conference Call
The company has scheduled a
conference call and simultaneous Webcast on Wednesday, January 25, 2006, at approximately
10 a.m. EST. To participate in the call, U.S. callers can dial 800-291-5365 and
international callers can dial +1-617-614-3922 and enter the pass code 15868325 five
minutes prior to the start time. The call will be available for replay through the end of
February 24, 2006 by dialing 888-286-8010 (in the US) or +1-617-801-6888 (international)
and entering the pass code 48252862. This call will also be broadcast live on the
Internet. To register and view the Webcast, go to http://www.attunity.com/investors. An
online replay will be available approximately two hours after the call.
About Attunity
Attunity is a leading provider of
enterprise data integration software. Using Attunity’s products, companies can
seamlessly connect to data sources, stream data changes across the enterprise, and
federate heterogeneous information to achieve a single view of their business. Employing a
unique distributed architecture, Attunity software runs natively on enterprise data
servers, turning locked data silos into an efficient Information Grid. The result is
significantly enhanced performance and reduced cost of ownership.
Attunity software solutions are used world-wide for Data Warehousing, Operational Data Stores, and a variety of Information Integration initiatives, including service-oriented integration to the mainframe as part of EAI projects, legacy data access for business intelligence and reporting, real-time and efficient ETL based on change data capture, and single customer views from disparate information sources. Also, Attunity is a trusted partner for industry leaders like IBM, Oracle and HP who embed Attunity software into their products and solution offerings.
Based on its robust information integration platform, Attunity also provides a software solution specifically architected for the Operational Business Intelligence requirements of executives and business managers. The solution delivers an innovative approach to business operation management focused on the enterprise business manager. It can be quickly adapted to the way enterprise business managers, at all levels, manage and monitor their daily operation, and is designed to enable them to be pro-actively informed, evaluate, act upon and follow up on key daily operational business issues and topics in real-time and within context.
Safe Harbor Statement
This press release contains
forward-looking statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and Federal Securities laws. Because
such statements deal with future events, they are subject to various risks and
uncertainties and actual results could differ materially from Attunity’s current
expectations. Factors that could cause or contribute to such differences include, but are
not limited to: the impact on revenues of economic and political uncertainties and
weaknesses in various regions of the world, including the commencement or escalation of
hostilities or acts of terrorism; any unforeseen developmental or technological
difficulties with regard to Attunity’s products; changes in the competitive
landscape, including new competitors or the impact of competitive pricing and products; a
shift in demand for products such as Attunity’s; unknown factors affecting third
parties with which Attunity has formed business alliances; timely availability and
customer acceptance of Attunity’s new and existing products, and other factors
and risks on which Attunity may have little or no control. This list is intended to
identify only certain of the principal factors that could cause actual results to differ.
For a more detailed description of the risks and uncertainties affecting Attunity,
reference is made to Attunity’s Annual Report on Form 20-F, which is on file with the
Securities and Exchange Commission. Attunity assumes no obligation to update any
information concerning any of its expectations.
| CONSOLIDATED BALANCE SHEETS |
| U.S. dollars in thousands |
| December 31, 2005 |
December 31, 2004 | |||||||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 1,635 | $ | 1,717 | ||||
| Restricted cash | 70 | 73 | ||||||
| Trade receivables, net | 2,308 | 2,160 | ||||||
| Other current assets | 1,297 | 1,250 | ||||||
| Assets of discontinued operation | 51 | 521 | ||||||
| Total current assets | 5,361 | 5,721 | ||||||
| LONG-TERM PREPAID EXPENSES | 203 | 64 | ||||||
| SEVERANCE PAY FUND | 705 | 698 | ||||||
| PROPERTY AND EQUIPMENT, NET | 751 | 834 | ||||||
| OTHER ASSETS, NET | 10,335 | 10,826 | ||||||
| Total assets | $ | 17,355 | $ | 18,143 | ||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Current maturities of long-term debt | $ | 41 | $ | 70 | ||||
| Trade payables | 758 | 611 | ||||||
| Deferred revenues | 2,440 | 2,298 | ||||||
| Employees and payroll accruals | 1,163 | 1,156 | ||||||
| Accrued expenses and other liabilities | 1,890 | 2,097 | ||||||
| Liabilities of discontinued operation | 36 | 892 | ||||||
| Total current liabilities | 6,328 | 7,124 | ||||||
| LONG-TERM LIABILITIES: | ||||||||
| Long-term debts | 684 | 339 | ||||||
| Accrued severance pay | 1,043 | 1,008 | ||||||
| Total long-term liabilities | 1,727 | 1,347 | ||||||
| SHAREHOLDERS' EQUITY: | ||||||||
| Share capital | 584 | 539 | ||||||
| Additional paid-in capital | 93,355 | 89,618 | ||||||
| Accumulated other comprehensive loss | (512 | ) | (148 | ) | ||||
| Accumulated deficit | (84,127 | ) | (80,337 | ) | ||||
| Total shareholders' equity | 9,300 | 9,672 | ||||||
| Total liabilities and shareholders' equity | $ | 17,355 | $ | 18,143 | ||||
| CONSOLIDATED STATEMENTS OF OPERATIONS |
| U.S. dollars in thousands, except share and per share data |
| Year ended December 31, |
Three months ended December 31, |
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2005 |
2004 |
2005 |
2004 | |||||||||||
| Revenues: | ||||||||||||||
| Software licenses | $ | 8,356 | $ | 7,258 | $ | 2,313 | $ | 1,698 | ||||||
| Services | 6,793 | 6,379 | 1,660 | 1,728 | ||||||||||
| 15,149 | 13,637 | 3,973 | 3,426 | |||||||||||
| Cost of revenues: | ||||||||||||||
| Software licenses | 1,577 | 2,164 | 406 | 509 | ||||||||||
| Services | 1,812 | 1,503 | 407 | 432 | ||||||||||
| 3,389 | 3,667 | 813 | 941 | |||||||||||
| Gross profit | 11,760 | 9,970 | 3,160 | 2,485 | ||||||||||
| Operating expenses: | ||||||||||||||
| Research and development, net | 2,671 | 1,475 | 914 | 464 | ||||||||||
| Selling and marketing | 9,190 | 7,703 | 2,341 | 2,167 | ||||||||||
| General and administrative | 2,192 | 2,465 | 563 | 605 | ||||||||||
| Termination of management and others | - | 1,714 | - | 69 | ||||||||||
| Liquidation damages related to January | ||||||||||||||
| private placement | 200 | - | - | - | ||||||||||
| Total operating expenses | 14,253 | 13,357 | 3,818 | 3,305 | ||||||||||
| Operating loss | (2,493 | ) | (3,387 | ) | (658 | ) | (820 | ) | ||||||
| Financial expenses, net | (790 | ) | (466 | ) | (202 | ) | (227 | ) | ||||||
| Other income (Loss) | (52 | ) | 40 | (60 | ) | 40 | ||||||||
| Loss before income taxes | (3,335 | ) | (3,813 | ) | (920 | ) | (1,007 | ) | ||||||
| Taxes on income | (165 | ) | (79 | ) | (127 | ) | - | |||||||
| Loss from continued operations | (3,500 | ) | (3,892 | ) | (1,047 | ) | (1,007 | ) | ||||||
| Discontinued operations: | ||||||||||||||
| Profit (loss) on disposal of segment, net of | ||||||||||||||
| income taxes | (290 | ) | (148 | ) | 90 | (123 | ) | |||||||
| Net loss | $ | (3,790 | ) | $ | (4,040 | ) | $ | (957 | ) | $ | (1,130 | ) | ||
| Basic and diluted net loss per share from | ||||||||||||||
| continued operations | $ | (0.21 | ) | $ | (0.26 | ) | $ | (0.06 | ) | $ | (0.07 | ) | ||
| Basic and diluted net profit (loss) per share | ||||||||||||||
| from discontinued operations, net of income | ||||||||||||||
| taxes | $ | (0.02 | ) | $ | (0.01 | ) | $ | 0.01 | $ | (0.01 | ) | |||
| Basic and diluted net loss per share | $ | (0.22 | ) | $ | (0.27 | ) | $ | (0.06 | ) | $ | (0.07 | ) | ||
| Weighted average number of shares used in | ||||||||||||||
| computing basic and diluted net loss per share | 16,939 | 15,151 | 17,246 | 15,322 | ||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| ATTUNITY LTD (Registrant) BY: /S/ Ofer Segev —————————————— Ofer Segev Chief Financial Officer |
Date: January 25, 2006