LYRIS INC (OTC:LYRI)

Fourth Quarter 2014 Results

• Fiscal fourth quarter revenues were $7.3 million, down 3.8% from $7.6 million in the prior quarter and down 15.7% from $8.7 million in the same period last year.
• Fiscal fourth quarter non-GAAP net income was $0.3 million, or $0.03 per diluted share, compared to a non-GAAP net income of $0.9 million, or $0.08 per share, in the same period a year ago.

"In the fiscal 2014, we managed our business responsibly and consistently to continue our progress to growth and profitability," stated John Philpin, president and CEO of Lyris. "Looking forward to fiscal 2015, we are encouraged by a growing base of opportunities – both in number and average deal size – that will allow us to expand our business in all four regions. This coupled with an increasing interest in our Professional Services offerings suggests that while fiscal 2014 was a year for development and enhancement of our platform, fiscal 2015 will be a year for that platform to drive growth as we progress toward profitability."

Third Quarter 2014 Results

• Fiscal third quarter revenues were $7.6 million, down 6.8% from $8.1 million in the prior quarter and down 14.7% from $8.9 million in the same period last year.
• Fiscal third quarter non-GAAP net income was $0.6 million, or $0.05 per diluted share, compared to a non-GAAP net income of $0.4 million, or $0.04 per share, in the same period a year ago.

"In the fiscal third quarter, we continued to see the momentum that began with the start of calendar 2014, and we managed our business responsibly to maintain our journey to growth and profitability," stated John Philpin, president and CEO of Lyris. "As we look to the coming months, we are very excited about the opportunities we see ahead of us as we continue to enhance and evolve our regional business strategies to better target customers around the globe. We are adding—and we will continue to add—new sales people, particularly in the U.S., and we now have the engineering and professional services infrastructure in place to further innovate on our core service offerings."

Second Quarter 2014 Results

• Fiscal second quarter revenues were $8.1 million, down 1% from $8.2 million in the prior quarter and down 15.7% from $9.7 million in the same period last year.
• Fiscal second quarter non-GAAP net income was $1.0 million, or $0.09 per diluted share, compared to a non-GAAP net income of $1.6 million, or $0.14 per share, in the same period a year ago.

"We ended calendar 2013 in a much better position than where we started it. Our bookings in the fiscal second quarter were the best for the year…and actually the best we've witnessed since fiscal second quarter of 2012," stated John Philpin, president and CEO of Lyris. "Looking forward into calendar 2014, we see opportunities for continued traction in our core markets in publishing, media, retail, and agencies. We've completely revamped our solution portfolio and streamlined our product offers, positioning us uniquely in the market to support our customers and agency partners. With news sales leaders in North America and APAC and our 'best in class' customer support, we will focus our sales efforts on revenue growth."

First Quarter 2014 Results

• Fiscal first quarter revenues were $8.2 million, down 4.9% from $8.7 million in the prior quarter and down 8.3% from $9.0 million in the same period last year.
• Fiscal first quarter non-GAAP net income was $0.1 million, or $0.01 per diluted share, compared to a non-GAAP net loss of $(0.3) million, or $(0.04) per share, in the same period a year ago.

"Since I took the helm as CEO last month, I've instituted new process improvements that focus on customer value and will accelerate our sales, marketing and service delivery efforts," stated John Philpin, president and CEO of Lyris. "We have already drilled into sales execution and implemented a metrics-driven approach to feed a predictable and healthy pipeline of business. It is too early to state with confidence that an uptick in overall sales has taken hold, but we are doubling down on our efforts to enable our global teams with the tools and domain expertise required to succeed in our space."