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BackWeb Releases 2008 Annual Report and Financial Results for 2008 and Q1 and Q2 2009

SAN JOSE, Calif., December 17, 2009 - BackWeb Technologies Ltd. (Pink Sheets: BWEBF or BWEBF.PK) today reported its financial results for the year ended December 31, 2008, and for the quarters ended March 31,2009 and June 30, 2009. BackWeb also posted its 2008 Annual Report to its website at http://www.backweb.com/news-and-events/.

The 2008 Annual Report discusses BackWeb's business activities from January 2008 to November 2009 and it provides additional details on the company's financial results for 2008. The financial results are summarized in the tables below.

 

BackWeb Technologies Ltd.
Condensed Consolidated Balance Sheets
(in thousands)
6-30-2009
Unaudited
3-31-2009
Unaudited
12-31-2008
Audited
ASSETS 
Current Assets: 
Cash and Cash equivalents$2,135$2,356$2,673
Trade accounts receivable, net47280213
Other current assets49108221
Total Current Assets2,6562,5443,107
Other non - current assets519459501
Property and equipment, net243246
Total assets$3,199$3,035$3,654
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities: 
Accounts payable and accrued liabilities$1,306$1,349$1,492
Deferred revenue229191280
Total current liabilities1,5351,5401,772
Long - term liabilities262626
Total shareholders' equity1,6381,4691,856
Total liabilities and shareholders' equity$3,199$3,035$3,654
BackWeb Technologies Ltd.
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
Three months endedYear ended
6-30-2009
Unaudited
3-31-2009
Unaudited
12-31-2008
Audited
Revenue: 
License$ -$ -$ 145
Licenses subject to contract accounting5002501,000
Services2222281,519
Total Revenue7224782,664
Cost of revenue: 
License--1
Licenses subject to contract accounting--23
Services2-226
Total cost of revenue2-250
Gross profit7204782,414
Operating expenses: 
Research and development2172741,483
Sales and marketing1532021,408
General and administrative1703651,428
Total operating expenses5408414,319
Profit (loss) from operations180(363)(1,905)
Finance and other income (loss), net(14)(27)1,414
Net profit (loss)$ 166$ (390)$ (491)
Net profit (loss) per share$0.005$(0.01)$(0.01)
Shares used in computing net profit (loss) per share41,33441,33441,334

 

2009 BackWeb Technologies Ltd. All rights reserved. BackWeb is a registered trademark. Symantec and Altiris are trademarks of Symantec Corporation or its subsidiaries. All other trademarks are property of their respective owners.

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For any questions or comments, please contact:
United States
Bill Heye
+1 (408) 933-1722
bwebf@backweb.com

Israel
Tomer Assis
+972 (03) 900 2712

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