Press Releases

February 14, 2011

ATTUNITY REPORTS FOURTH QUARTER 2010 and FULL YEAR 2010 RESULTS

Burlington, MA–February 14, 2010 – Attunity Ltd. (OTC Bulletin Board: ATTUF.OB), a leading provider of real-time data integration and event capture software, reported today its unaudited financial results for the fourth quarter and full year ended December 31, 2010.

Commenting on the results, Mr. Shimon Alon, Attunity's Chairman and CEO, stated, “We are pleased that we met our 2010 strategic goals for revenue growth, non-GAAP operating profitability and improved cash position. We expanded our product offerings while elevating our OEM relationships and enhancing marketing and sales infrastructure required for our future growth and competitiveness."

Mr. Alon continued, "We have recently entered into a strategic OEM agreement with Microsoft, the largest in Attunity’s history and as we announced today, we entered into an additional OEM agreement with Microsoft. Aside from their strategic importance, making Attunity the de-facto partner of choice of Microsoft for cloud computing and heterogeneous connectivity, these two five–year agreements worth nearly $9 million in total and with expected proceeds of nearly $4 million during 2011, will create new and exciting opportunities for us in the future. As previously announced, we have also extended our OEM agreements with two other industry giants during the year, which will allow us an additional stable stream of revenues."

Highlights of Q4 and FY 2010:

  • License revenues of $1.25 million in Q4 2010 compared to $0.9 million in Q3 2010, representing a 44% growth.
  • Total revenues of $2.6 million in Q4 2010 compared to $2.1 million in Q3 2010, representing a 17% growth.
  • License revenues of $4.6 million in 2010 compared to $4.1 million in 2009, representing 13% growth.
  • Total revenues of $10.1 million in 2010 compared to $9.5 million in 2009, representing a 7% growth.
  • New strategic five-year OEM agreement with Microsoft, worth nearly $7 million in total for our change data capture technology for Oracle databases, with expected payments of nearly $3.0 million during 2011.
  • Repayment and reduction of debts from $4.0 million as of December 31 2009 to $2.9 million as of December 31 2010.
  • Extend and expand our OEM agreements with two industry giants.
  • Positive cash flow from operations in both Q4 2010 and FY 2010.

Q4 2010 Financial Summary:

  • Revenues were $2,579,000, compared to $2,685,000 in the fourth quarter of 2009.
  • Net Operating Profit (Non GAAP) was $248,000, compared to a net operating profit of $725,000 in the fourth quarter of 2009. Non-GAAP operating profit excludes amortization and capitalization of software development costs of $319,000 compared to $586,000 in the fourth quarter of 2009 (see footnote 1 at the end of this release) and equity-based compensation expenses of $55,000 compared to $60,000 in the fourth quarter of 2009 (see footnote 2).
  • Net Operating Loss (GAAP) was $126,000, compared to a net operating profit of $79,000 in the fourth quarter of 2009.
  • Net Profit (Non-GAAP) was $105,000, compared to a net profit of $649,000 in the fourth quarter of 2009. Non-GAAP net profit excludes amortization and capitalization of software development costs of $319,000 compared to $586,000 in the fourth quarter of 2009 (see footnote 1), equity-based compensation expenses of $55,000 compared to $60,000 in the fourth quarter of 2009 (see footnote 2), and revaluation of conversion features related to our convertible debt and outstanding warrants of $873,000 compared to income of $38,000 in the fourth quarter of 2009 (see footnote 3).
  • Net Loss (GAAP) was $1,142,000 compared to a net profit of $41,000 in the fourth quarter of 2009.
  • Net Profit/Loss per Diluted Share (Non-GAAP) was $0.00 compared to $0.02 net profit per diluted share in the fourth quarter of 2009.
  • Net Loss per Diluted Share (GAAP) was $0.04, compare to $0.00 in the fourth quarter of 2009.
  • Cash and cash equivalents were approximately $0.9 million as of December 31, 2010, compared to approximately $1.0 million as of September 30, 2010.

FY 2010 Financial Summary:

  • Revenues were $10,075,000, compared to $9,453,000 in 2009.
  • Net Operating Profit (Non GAAP) was $1,300,000, compared to a net operating profit of $1,557,000 in 2009. Non-GAAP operating profit excludes amortization and capitalization of software development costs of $1,119,000 compared to $1,970,000 in 2009 (see footnote 1 at the end of this release) and equity-based compensation expenses of $223,000 compared to $196,000 in 2009 (see footnote 2).
  • Net Operating Loss (GAAP) was $43,000, compared to a net operating loss of $609,000 in 2009.
  • Net Profit (Non-GAAP) was $802,000, compared to a net profit of $1,263,000 in 2009. Non-GAAP net profit excludes amortization and capitalization of software development costs of $1,119,000 compared to $1,970,000 in 2009 (see footnote 1), equity-based compensation expenses of $223,000 compared to $196,000 in 2009 (see footnote 2), and revaluation of conversion features related to our convertible debt and outstanding warrants of $966,000 compared to $400,000 in 2009 (see footnote 3).
  • Net Loss (GAAP) was $1,506,000 compared to a net loss of $1,303,000 in 2009.
  • Net Profit per Diluted Share (Non-GAAP) was $0.03 compared to $0.04 per diluted share in 2009.
  • Net Loss per Share (GAAP) was $0.05 compared to $0.05 in 2009.
  • Cash and cash equivalents were approximately $0.9 million as of December 31, 2010, compared to approximately $1.4 million as of December 31, 2009.

See “Use of Non-GAAP Financial Information” below for more information regarding Attunity’s use of Non-GAAP financial measures.

Mr. Alon concluded:

“We are entering 2011 with a strong business momentum from both our direct channels and our OEM partners. During 2010, we generated a positive cash from operations while reducing our debts from approximately $4 million to $2.9 million. In 2011, we plan that the cash generated from operations, including the expected proceeds from Microsoft and other OEM agreements, will allow us to repay our outstanding debts and even redeem them early, at our discretion. We intend to continue to build our business, expand current partnerships with the industry leaders and enter into strategic and large markets such as cloud computing and application replication."

About Attunity


Attunity is a leading provider of real-time data integration and event capture software. Our offering include software solutions such as Attunity Stream®, a real-time and change-data-capture (CDC) software, our Operational Data Replication(ODR) solution and Attunity Connect®, our real-time connectivity software. Using Attunity’s software solutions, our customers enjoy dramatic business benefits by enabling real time access to information where and when needed, across the maze of heterogeneous systems making up today’s IT environment.


Attunity has supplied innovative software solutions to its enterprise-class customers for nearly 20 years and has successful deployments at thousands of organizations worldwide. Attunity provides software directly and indirectly through a number of partners such as Microsoft, Oracle, IBM and HP. Headquartered in Boston, Attunity serves its customers via offices in North America, Europe, and Asia Pacific and through a network of local partners. For more information, visit http://www.attunity.com and join our community on Twitter, Facebook and LinkedIn.

Use of Non-GAAP Financial Information

In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Attunity uses Non-GAAP measures of net profit (loss), net operating profit (loss) and net profit (loss) per share, which are adjustments from results based on GAAP to exclude non-cash equity based compensation charges in accordance with ASC 718 (formerly known as SFAS 123(R)), non-cash capitalization and amortization of software development costs in accordance with ASC 985-20 (formerly known as SFAS 86) and non-cash financial expenses such as revaluation of conversion features related to its convertible debt and outstanding warrants in accordance with ASC 815-40 (formerly known as EITF 07-5) (affected, among other factors, by changes in Attunity‘s share price). Attunity’s management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Attunity's on-going core operations and prospects for the future. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP.

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 other Federal Securities laws. Statements preceded by, followed by, or that otherwise include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. For example, when we discuss future growth of revenues, we are using a forward-looking statement. 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; our liquidity challenges and the need to raise additional capital in the future; 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 for the year ended December 31, 2009, which is on file with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by Attunity in reports filed or furnished to the SEC. Except as otherwise required by law, Attunity undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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© 2011 Attunity Ltd. All rights reserved. Attunity is a trademark of Attunity Inc.

For Financial statement click here.

For more information, please contact:

Dror Elkayam, CFO
Attunity Ltd.
Tel. +972 9-899-3000
dror.elkayam@attunity.com