SumTotal® Systems (Nasdaq: SUMT), the largest provider of talent and learning solutions, today announced preliminary financial results for the third quarter ended September 30, 2006.
For the third quarter, SumTotal expects GAAP revenue to be in the range of $26.8 to $27.0 million, and net loss in the range of $2.8 to $2.6 million or $0.11 to $0.10 per share.
Non-GAAP revenue is expected to be in the range of $27.3 to $27.5 million, and non-GAAP net income in the range of $0.9 to $1.1 million or $0.03 to $0.04 per share.
Non-GAAP results exclude the impact of certain non-cash accounting adjustments and one-time charges primarily related to acquisition accounting. A reconciliation to the GAAP results is provided below.
Chief Executive Officer Don Fowler stated, "We are pleased with the revenue which is a record for any quarter in our history and continues our success -- both in winning new business and in selling incremental solutions into our installed base. However, we are disappointed with the net income, which is estimated to be below our prior expectations. This results from higher than expected costs, predominantly in our services business. We are implementing actions to correct the situation and will discuss these in our quarterly conference call."
A conference call to discuss the final third quarter results will be held on Tuesday, October 31, 2006 at 5:00 p.m. ET/ 2:00 p.m. PT. SumTotal plans to make a live, audio webcast available to investors and the public at
www.sumtotalsystems.com/company/investors. Along with the webcast, SumTotal plans to make available a telephone replay of the call on Tuesday, October 31, 2006, beginning at approximately 5:00 p.m. Pacific Time through the close of business on Tuesday, November 7, 2006. Interested parties can access the replay by dialing 877-519-4471 within the US or 973-341-3080 outside the US and entering the access code 7930097.
The time or manner of the webcast may change for technical and/or administrative reasons.
Related Articles
Skillsoft® and Sumtotal® Systems Integrate Open Learning Services Architecture With Totallms™
By: Sumtotal Systems | 11/10/2006 | Corporate
SkillSoft's OLSA Enables Leading LMS Vendor to Simplify Integration of Learning Content and Services, Benefiting both Administrators and Learners.
Wyeth Sales Training Case Study
By: Sumtotal Systems | 11/10/2006 | Human Resources
The company saved $1.6 million in training costs the first year and projects $4.7 million in savings over the next three years.
Sumtotal Systems Powers Elearning at U.k. Retail Giant B&q
By: Sumtotal Systems | 11/10/2006 | Corporate
"SumTotal has reduced our four-hour Health and Safety training session for new staff to about one and a half hours. And as staff gain familiarity with the system, their confidence is increasing when dealing with customers. You can't put a price on confident staff, but it's possibly the best ROI we could have hoped for."
-- Adrian Jones, E-Training Manager, B&Q
Sumtotal Serves Up a Learning Management Solution for Leading Convenience Store and Food Retailer Sheetz
By: Sumtotal Systems | 18/10/2006 | Corporate
SumTotal® Systems (Nasdaq: SUMT), the largest provider of talent and learning solutions, announced that Sheetz, Inc., one of the top convenience retailers in the nation, has deployed a SumTotal learning management system (LMS).
Sumtotal Named One of Silicon Valley's Fastest-growing Software & Information Technology Companies in Deloitte's Technology Fast 50 Program
By: Sumtotal Systems | 30/10/2006 | Corporate
SumTotal® Systems (Nasdaq: SUMT), the largest provider of talent and learning solutions, announced that it has been named to Deloitte's prestigious Technology Fast 50 Program for Silicon Valley, a ranking of the fastest-growing technology, media, telecommunications and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations.
Sumtotal Signs Partnership With China's Great Wall Computer Software and Systems
By: Sumtotal Systems | 30/10/2006 | Online Business
SumTotal® Systems (Nasdaq: SUMT), the largest provider of talent and learning solutions, and Great Wall Computer Software and Systems Inc., Ltd. announced in a signing ceremony at the Century Technology and Trade Plaza that Great Wall Software will serve as SumTotal's first Chinese "value added distributor."
Sumtotal Wins $1.5 Million Contract With U.s. Army Defense Ammunition Center
By: Sumtotal Systems | 02/11/2006 | Corporate
SumTotal will provide hosting operations to support the DAC's migration to an upgraded version of the SumTotal learning management system (LMS) and learning content management system (LCMS).
Stewards of Children - Program Launched Online With Sumtotal
By: Sumtotal Systems | 05/11/2006 | Corporate
SumTotal® Systems (Nasdaq: SUMT), the largest provider of talent and learning solutions, said Darkness to Light, a national child sexual-abuse prevention, education and public awareness organization, has launched SumTotal's learning management system (LMS) to create an online version of "Stewards of Children," a child sexual-abuse prevention program.
Latest Finance Articles
Stock Market Volatility Helps In Making Money Using Stocks
By: Amit Kheterpal | 05/09/2008
Anyone who has ever ventured into the stock market would have gotten to know by now that the index can go up and down on any given date. That gyration can actually help you make good returns on the stock market.
Tips On How To Diversify Your Risk In The Stock Market
By: Amit Kheterpal | 05/09/2008
Stock market is not for the faint hearted they say. That is definitely correct and a lot of people who join the stock market bandwagon hearing stories about loads of money to be made usually are the ones who burn their fingers in the stock market very easily.
Making the Most of Your Business Banking Relationship
By: Ann Knapp | 05/09/2008
Anyone who owns a business can appreciate the need for a bank account to handle bill paying, deposits and payroll. But banks can assist business owners in so many other ways as well. In fact, having a reliable financial partner can help a business reach its greatest potential, as well as provide support during times of financial need.
10 Sound Budgeting Tips to Ensure Financial Freedom
By: Michael New Jr. | 05/09/2008
Here are 10 sound budgeting tips that will surely get you on the right track again. If you're in trouble with debt, this article is a must read!
Limited Liability Corporation: Do One And Save Your Wealth!
By: Ramapati Singhania | 05/09/2008
Limited Liability Corporation: One of the newest but BEST forms of incorporation
How Does Shared Ownership Housing Work?
By: Peter Kenny | 05/09/2008
Over recent months the mortgage market has fallen into a sharp decline as a result of the global credit crunch that swept across the nation last summer and has been wreaking havoc in the financial markets ever since
How to Improve Your Income and Cash Flow
By: Brad Griffin | 05/09/2008
You cannot have a successful business person without a suitable cash flow. If this secret is so well known, why are so many struggling businesses? When running the daily operations of a business money, or cash flow is a big challenge. I will present you 7 tips to help you improve your income and cash flow.
Pasadena, TX Auto Insurance
By: Russell Neal | 05/09/2008
Insurance carriers use what is called a community rating system to determine base insurance rates in a particular zip code based on the number of collisions and claims that occur per annum within that zip code. Even though Houston has a great many vehicle collisions, Pasadena, Texas auto insurance tends...
More from Sumtotal Systems
Sumtotal Systems Talent Development and Mobile Learning Take Center Stage at Tbcon 2008
By: Sumtotal Systems | 17/06/2008 | Human Resources
SumTotal® Systems, Inc. (NASDAQ: SUMT), the market leader and global provider of talent development solutions, today unveiled new features from the upcoming release of ToolBook® version 9.5 at TBCON 2008, a global ToolBook user conference.
Sumtotal Delivers Industry’s Only Unified Talent Development Suite
By: Sumtotal Systems | 03/06/2008 | Human Resources
SumTotal Delivers Industry’s Only Unified Talent Development Suite - Unique new suite brings together best-in-class learning, performance, content, and mobile capabilities.
Sumtotal Wins Astd Excellence in Practice Award
By: Sumtotal Systems | 03/06/2008 | Human Resources
SumTotal® Systems, Inc. (NASDAQ: SUMT), the market leader and global provider of talent development solutions, today announced that the company was selected as a 2007 ASTD Excellence in Practice Award Winner for their internal use of the SumTotal Unified Talent Development Suite. Using this solution, SumTotal realized a 75% increase in new hire ramp times and a 73% increase in retention.
7 Key Steps to Starting Effective Career and Succession Planning – a Vaccination Plan for the Talent Shortage Crisis
By: Sumtotal Systems | 23/05/2008 | Human Resources
This white paper will discuss factors causing talent pools to dry up, recent survey results that show how people are addressing talent shortages and retention, and succession planning practices that can help your organization overcome talent shortage threats.
Hawker Pacific Lands on Sumtotal to Manage Job and Career Alignment
By: Sumtotal Systems | 23/05/2008 | Human Resources
Hawker Pacific Aerospace, a leading independent landing gear overhaul and repair organization is using SumTotal’s ResultsOnDemand® - Learning to help increase employee engagement and improve organizational productivity and revenue.
Sumtotal Takes Talent Management Innovation Mobile
By: Sumtotal Systems | 14/03/2008 | Human Resources
SumTotal® Systems, Inc. (NASDAQ: SUMT), a global provider of learning, performance and talent management solutions, today announced that the upcoming release of its industry-leading ToolBook® Instructor will include the ability to rapidly create learning and interactive content for Apple’s iPhone™.
Unified Grocers Selects Sumtotal for Integrated Learning and Performance Management
By: Sumtotal Systems | 06/03/2008 | Human Resources
SumTotal Systems, Inc., a global provider of learning, performance and talent management solutions, today announced that Unified Grocers, Inc. selected ResultsOnDemand to combine learning and performance in a single system linked to strategy.
Uponor Chooses Sumtotal's Learning Management System Lms
By: Sumtotal Systems | 26/02/2008 | Human Resources
Uponor Chooses SumTotal ResultsonDemand to Grow Market for Green Alternative through Partner Training
Finance 
