Message #5 From:
NewsBot Date: November 6, 2006 04:00:00 AM
TSSW News TouchStone Software Corporation Reports Third Quarter 2006 Revenue of $776,908 and Fourth Consecutive Quarter of Positive Earnings
NORTH ANDOVER, Mass.--(BUSINESS WIRE)--TouchStone Software Corporation (OTCBB:TSSW) today announced that for
the third quarter ended September 30, 2006, net revenue was $776,908. On
a GAAP basis, TouchStone Software's third quarter net earnings were
$169,208, or $0.01 per share diluted. As a percentage of sales, gross
profit margin for the third quarter improved to 98% while net operating
margin for the third quarter was 22%.
Financial Highlights
TouchStone Software’s revenue in the quarter
grew by 137% from the same period a year ago
TouchStone Software ended the third quarter with cash and cash
equivalents and restricted cash, of $689,329 an increase of $212,800
from the end of the 2nd quarter of 2006
Driver Agent online subscription services total active subscribers
grew by 111% in the 3rd quarter from the 2nd quarter
Financial Outlook
TouchStone Software expects net revenue for the Fourth quarter of 2006
to be between $700,000 and $900,000
“Touchstone’s
DriverAgent continues to pace our rapid revenue and strong earnings
growth” said Jason Raza, president and chief
executive officer of TouchStone Software Corporation. “We
were able to achieve significant growth in our active subscriber base
for DriverAgent this quarter and expect our BIOS Upgrade business to see
improved growth as we head towards the launch of Microsoft’s
Vista operating system. In addition, Touchstone achieved a milestone of
four consecutive quarters of profitable operations and I am seeing this
trend continuing into the traditionally more active 4th
quarter”
Business Highlights:
TouchStone Software signed a new affiliate partner in the 3rd
quarter:
TouchStone Software’s network of web
properties continued to generate significant new unique visitor
traffic during the 3rd quarter and averaged
2,165,000 unique visitors per month over all of Touchstone’s
web sites.
Disclosure Statements
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Actual results could differ materially
from those projected in the forward-looking statements as a result of
various factors including the ability of the company to successfully
commercialize its new technologies as well as risk factors set forth
under "Factors Affecting Future Operating Results" in the company’s
annual report on Form 10-K and such other risks detailed from time to
time in the company’s reports filed with the
Securities and Exchange Commission. The company undertakes no obligation
to publicly release the result of any revisions to these forward-looking
statements, which may be made to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events.
Forward-Looking Statements
The foregoing contains forward-looking statements which include those
regarding expected operating results for the second quarter and
remainder of 2006. Actual results could vary perhaps materially and the
expected results may not occur. Touchstone Software may not achieve its
planned revenue realization rates; succeed in its efforts to grow its
business, build upon its technology leadership or capture market share,
notwithstanding related commitment or related investment. The company
may not benefit from its strategic alliances or partnerships as
anticipated, customers may not respond as favorably as anticipated to
the company's product or technical support offerings, or the company may
not satisfactorily anticipate or meet its customers' needs or
expectations. Actual results are also subject to a number of other
factors, including macro and other economic conditions both in the U.S.
and internationally. The forward-looking statements contained in this
release are also subject to other risks and uncertainties, including
those more fully described in Touchstone Software's filings with the SEC
including its annual report on Form 10-K for the year ended December 31,
2005 and its quarterly reports filed on Form 10-Q.
About Touchstone Software Corporation
TouchStone Software Corporation is a leading developer of innovative
software designed to help people use complex technologies.The
company’s products, which include BIOS Agent,
BIOS Wizard and Driver Agent, are distributed worldwide via the
Internet. TouchStone’s corporate headquarters
are located at 1538 Turnpike Street, North Andover, MA 01845. Additional
information on the Driver Agent service is available at www.driveragent.com
and a one year subscription is $29.95. Additional information about
TouchStone Software is available at www.touchstonesoftware.com.
NOTE: Touchstone Software, eSupport, Driver Agent are registered
trademarks or trademarks of Touchstone Software Corporation and/or its
affiliates
