Analytics software sponsored by the National Institute of Health and the Air Force Office of Scientific Research
SEATTLE - September 6, 2007 -
(PRWEB) — Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate release of three time series analysis software packages via Insightful’s Comprehensive S-PLUS® Archive Network (CSAN). The development of these software packages was supported by the National Institutes of Health under grant number R44LM007146, entitled "Fractal Modeling of Biomedical Time Series in S-PLUS," and by the Air Force Office of Scientific Research under contract number F49620-99-C-0039, entitled “Wavelet-Based Analysis and Software for Multi-Scale Fractal Processes.”
“We are pleased to have developed and released the first S-PLUS packages for fractal time series modeling and analysis,” said Dr. Jill R. Goldschneider, director of research of Insightful. “We believe these S-PLUS packages will contribute to research in advanced statistical computing around the world, reinforcing Insightful’s leadership in the development of cutting edge statistics.”
Simply put, the term "fractal" means that certain statistical measures of data are invariant upon rescaling the data. However, the measures are quite different for stochastic and deterministic models (e.g., invariance in distributional properties in the former and invariance in space-filling properties in the latter). Researchers have used stochastic fractal models to interpret observed data from real-world systems such as cardio-dynamics (heart rate variability), turbulence, atmospheric and climate changes, atomic clock deviations, sea ice measurements and blood flow.
Insightful has released the following time series packages via CSAN at http://csan.insightful.com:
* FRACTAL: stochastic fractal time series and nonlinear modeling
* WMTSA: wavelet methods for time series analysis
* SAPA: spectral analysis for physical applications
Funding from the awards was recorded in the company’s financial statements as a reduction to research and development expense. The contents of the results of the grants are solely the responsibility of the authors and do not necessarily represent the official views of the National Institutes of Health or the Air Force Office of Scientific Research.
Statistical analysis software
Thursday, September 25, 2008
Insightful Corporation Releases S-PLUS® 8 Enterprise Server
New server platform provides improved scalability, reliability and compliance with IT standards for deployment of analytics applications across the enterprise
SEATTLE - September 25, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S-PLUS® 8 Enterprise Server, the latest release of Insightful’s software platform for statistical data analysis and predictive analytics.
S-PLUS 8 Enterprise Server provides organizations with the ability to deploy predictive analytics across the enterprise for improved communication and decision-making. Insightful delivers the knowledge to act immediately and decisively, assisting customers in improving operations and enhancing their competitive advantage.
KEY FEATURES IN S-PLUS 8 ENTERPRISE SERVER
* Greater Scalability: The server architecture allows for robust and efficient processing of analytic jobs including load balancing across server clusters. Synchronous and asynchronous access, queuing and scheduling of jobs provides greater flexibility for better performance during peak processing times. Support for 64 bit platforms and out-of-memory processing allow for greater volumes of data to be analyzed faster than with previous versions.
* Improved Security: Single sign-on or pass through authentication through either LDAP or Microsoft® Active Directory® is supported. Encryption is supported through HTTPS or SSL protocols.
* Compliance with IT Standards: Integration and extension of the server is supported through a Services Oriented Architecture including documented C#, .Net, Java, JavaScript, HTTP/URL API’s and rich client examples.
S-PLUS 8 ENTERPRISE SERVER: CONTINUING EVOLUTION FOR ENTERPRISE DEPLOYMENT
S-PLUS 8 Enterprise Server is specifically designed to support the enterprise wide deployment and integration of analytic applications and reporting. The key benefits provided to customers are:
* Improved communication: Results and measurements can be presented in easy-to-understand graphic displays. Decision makers get all of the information they need in an easy-to-understand format for full comprehension of the data being analyzed.
* Timely, fact-based decisions: Rapid response to queries and desktop delivery of results through a web-based portal or custom rich client integration provides decision makers fast and statistically rigorous results upon which to make vital choices for the health of their business.
* Low total cost of ownership: Perpetual licensing coupled with support for popular IT deployment standards make maintenance of the S-PLUS 8 Enterprise Server a much more cost effective alternative to competitive systems.
AVAILABILITY/PLATFORMS
S-PLUS 8 Enterprise Server is available today for the following server environments:
* 32 Bit: Windows, Solaris 8/9/10
* 32 Bit & 64 Bit: Red Hat Linux 3,4, SUSE Linux 10
* In addition, 64 Bit: HP-UX 11i. IBM AIX 5.x will be available later this year.
“We are very pleased to announce the release of S-PLUS 8 Enterprise Server,” said Jeff Coombs, CEO of Insightful. “We are committed to a process of continuous improvement in performance and reliability of our production platform in support of our customers’ enterprise deployment of predictive analytics and reporting applications.”
Statistical analysis software
SEATTLE - September 25, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S-PLUS® 8 Enterprise Server, the latest release of Insightful’s software platform for statistical data analysis and predictive analytics.
S-PLUS 8 Enterprise Server provides organizations with the ability to deploy predictive analytics across the enterprise for improved communication and decision-making. Insightful delivers the knowledge to act immediately and decisively, assisting customers in improving operations and enhancing their competitive advantage.
KEY FEATURES IN S-PLUS 8 ENTERPRISE SERVER
* Greater Scalability: The server architecture allows for robust and efficient processing of analytic jobs including load balancing across server clusters. Synchronous and asynchronous access, queuing and scheduling of jobs provides greater flexibility for better performance during peak processing times. Support for 64 bit platforms and out-of-memory processing allow for greater volumes of data to be analyzed faster than with previous versions.
* Improved Security: Single sign-on or pass through authentication through either LDAP or Microsoft® Active Directory® is supported. Encryption is supported through HTTPS or SSL protocols.
* Compliance with IT Standards: Integration and extension of the server is supported through a Services Oriented Architecture including documented C#, .Net, Java, JavaScript, HTTP/URL API’s and rich client examples.
S-PLUS 8 ENTERPRISE SERVER: CONTINUING EVOLUTION FOR ENTERPRISE DEPLOYMENT
S-PLUS 8 Enterprise Server is specifically designed to support the enterprise wide deployment and integration of analytic applications and reporting. The key benefits provided to customers are:
* Improved communication: Results and measurements can be presented in easy-to-understand graphic displays. Decision makers get all of the information they need in an easy-to-understand format for full comprehension of the data being analyzed.
* Timely, fact-based decisions: Rapid response to queries and desktop delivery of results through a web-based portal or custom rich client integration provides decision makers fast and statistically rigorous results upon which to make vital choices for the health of their business.
* Low total cost of ownership: Perpetual licensing coupled with support for popular IT deployment standards make maintenance of the S-PLUS 8 Enterprise Server a much more cost effective alternative to competitive systems.
AVAILABILITY/PLATFORMS
S-PLUS 8 Enterprise Server is available today for the following server environments:
* 32 Bit: Windows, Solaris 8/9/10
* 32 Bit & 64 Bit: Red Hat Linux 3,4, SUSE Linux 10
* In addition, 64 Bit: HP-UX 11i. IBM AIX 5.x will be available later this year.
“We are very pleased to announce the release of S-PLUS 8 Enterprise Server,” said Jeff Coombs, CEO of Insightful. “We are committed to a process of continuous improvement in performance and reliability of our production platform in support of our customers’ enterprise deployment of predictive analytics and reporting applications.”
Statistical analysis software
Insightful Corporation Releases S+FinMetrics 3.0
New release of econometrics library provides market leading time-series modeling, asset valuation, and financial analytics
SEATTLE - September 26, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S+FinMetrics® 3.0 for S-PLUS® 8.0, the latest release of Insightful’s software library for advanced financial data analysis.
S+FinMetrics 3.0 provides quantitative analysts and developers with a comprehensive set of financial analytics. Included in the library are vital additions and enhanced features including:
* State-space models and Kalman filter tools
* High frequency functionality
* Option pricing
* Fixed Income calculations
“S+FinMetrics 3.0 is a significant expansion in functionality over the previous version,” said Dr. Eric Zivot, Professor and Gary Waterman Distinguished Scholar in the Economics Department and an Adjunct Professor of Finance in the Business School at the University of Washington. “The specific state space modeling tools for credit risk and option pricing and fixed income pricing functions have greatly enhanced the module, making it a better and more comprehensive collection than ever before.”
CUSTOMER BENEFITS
S+FinMetrics 3.0 combined with S-PLUS 8.0 provides a modeling environment that allows quantitative analysts to explore scenarios and determine results faster. Graphical reporting enables results to be communicated clearly across all audience types. Faster results and clearer communications can assist companies in developing better financial products and responding to changes in the marketplace quickly, in order to maximize profit while minimizing risk.
“The release of S+FinMetrics 3.0 is a breakthrough in providing scalable commercial deployment for the latest and most advanced econometric models,” said Jeff Coombs, president and CEO of Insightful. “We are committed to bringing our customers competitive advantage in the financial markets through the deployment of advanced analytics across the enterprise.”
Statistical analysis software
SEATTLE - September 26, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today the immediate availability of S+FinMetrics® 3.0 for S-PLUS® 8.0, the latest release of Insightful’s software library for advanced financial data analysis.
S+FinMetrics 3.0 provides quantitative analysts and developers with a comprehensive set of financial analytics. Included in the library are vital additions and enhanced features including:
* State-space models and Kalman filter tools
* High frequency functionality
* Option pricing
* Fixed Income calculations
“S+FinMetrics 3.0 is a significant expansion in functionality over the previous version,” said Dr. Eric Zivot, Professor and Gary Waterman Distinguished Scholar in the Economics Department and an Adjunct Professor of Finance in the Business School at the University of Washington. “The specific state space modeling tools for credit risk and option pricing and fixed income pricing functions have greatly enhanced the module, making it a better and more comprehensive collection than ever before.”
CUSTOMER BENEFITS
S+FinMetrics 3.0 combined with S-PLUS 8.0 provides a modeling environment that allows quantitative analysts to explore scenarios and determine results faster. Graphical reporting enables results to be communicated clearly across all audience types. Faster results and clearer communications can assist companies in developing better financial products and responding to changes in the marketplace quickly, in order to maximize profit while minimizing risk.
“The release of S+FinMetrics 3.0 is a breakthrough in providing scalable commercial deployment for the latest and most advanced econometric models,” said Jeff Coombs, president and CEO of Insightful. “We are committed to bringing our customers competitive advantage in the financial markets through the deployment of advanced analytics across the enterprise.”
Statistical analysis software
Insightful Corporation Named in Deloitte's Technology Fast 50 Program for Washington State
Company attributes growing demand for predictive analytics and reporting solutions for its 46 % percent revenue growth over 5 years
SEATTLE - October 1, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that the company has been named to Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest-growing technology, media, telecommunications, and life sciences companies in the region by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years, from 2002 to 2006.
Insightful’s CEO Jeff Coombs credits the growing demand for predictive analytics and reporting solutions for the company's 46 percent revenue growth from 2002 to 2006. “We are seeing a growing realization by companies across all industries – but particularly life science and financial services – of the imperative to analyze their data and communicate the results efficiently and effectively, unlocking hidden insight and detecting the subtle relationships that can deliver competitive advantage. Our solutions provide enterprises with the knowledge to act quickly and decisively.”
Insightful's increase in revenues of 46 percent from 2002 to 2006 resulted in a ranking of 46th in the Technology Fast 50 for Washington State.
“Deloitte’s Washington State Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Larry Hile, a partner with Deloitte & Touche LLP in Seattle. “We applaud the successes of Insightful and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
This year’s Washington State Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP and Perkins Coie LLP, Citibank, AH&T Insurance and the Puget Sound Business Journal.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Statistical analysis software
SEATTLE - October 1, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that the company has been named to Deloitte's prestigious Technology Fast 50 Program for Washington State, a ranking of the 50 fastest-growing technology, media, telecommunications, and life sciences companies in the region by Deloitte & Touche USA LLP, one of the nation’s leading professional services organizations. Rankings are based on the percentage revenue growth over five years, from 2002 to 2006.
Insightful’s CEO Jeff Coombs credits the growing demand for predictive analytics and reporting solutions for the company's 46 percent revenue growth from 2002 to 2006. “We are seeing a growing realization by companies across all industries – but particularly life science and financial services – of the imperative to analyze their data and communicate the results efficiently and effectively, unlocking hidden insight and detecting the subtle relationships that can deliver competitive advantage. Our solutions provide enterprises with the knowledge to act quickly and decisively.”
Insightful's increase in revenues of 46 percent from 2002 to 2006 resulted in a ranking of 46th in the Technology Fast 50 for Washington State.
“Deloitte’s Washington State Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today’s very competitive technology environment,” said Larry Hile, a partner with Deloitte & Touche LLP in Seattle. “We applaud the successes of Insightful and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years.”
To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify.
Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte’s Technology Fast 500 program, which ranks North America’s top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte’s Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
This year’s Washington State Technology Fast 50 program is co-presented by Deloitte & Touche USA LLP and Perkins Coie LLP, Citibank, AH&T Insurance and the Puget Sound Business Journal.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein.
Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the U.S., services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
Statistical analysis software
Insightful Corporation Announces 2007 Impact Award Winners
ImClone Systems, Macronix, Time/Warner Retail Sales & Marketing and Zurich Financial Services Honored For Driving Business Benefits and Delivering Competitive Advantage
SEATTLE - October 22, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that ImClone Systems, Macronix, Time/Warner Retail Sales & Marketing and Zurich Financial Services were awarded with the 2007 Insightful Impact Award at the company’s annual user conference. All four award-winning companies have deployed Insightful’s predictive analytics and reporting solutions, leading to significant impact on their growth and/or profitability.
“This year’s winners have delivered innovative solutions to important issues facing their businesses,” said Jeff Coombs, president and chief executive officer of Insightful. “We are pleased and proud that Insightful’s predictive analytics and reporting solutions have been used to develop substantial cost efficiencies and competitive advantage for our customers.”
Following is a brief description of the award winning applications:
* ImClone Systems, a fully integrated biopharmaceutical company, has deployed S-PLUS® Enterprise Server to create an intuitive system that tracks all of its production metrics, thereby enabling the company to produce products more quickly and efficiently.
* Macronix, a Taiwanese integrated device manufacturer, is providing engineering and business data analysis on demand across its entire production pipeline by implementing Insightful’s S-PLUS Enterprise Server along with customer-developed JavaÒ applications.
* Time/Warner Retail Sales & Marketing, the largest publisher-owned magazine retail marketer and distribution services company in the US, has improved production and distribution profitability as well as created a whole new data business by deploying Insightful’s S-PLUS Enterprise Server as its predictive analytics and reporting solution.
* Zurich Financial Services, an insurance-based financial services provider, utilized S-PLUS Enterprise Server to enable systems from all over the world to share data, models and results within its Risk Modeling Platform.
Statistical analysis software
SEATTLE - October 22, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, announced today that ImClone Systems, Macronix, Time/Warner Retail Sales & Marketing and Zurich Financial Services were awarded with the 2007 Insightful Impact Award at the company’s annual user conference. All four award-winning companies have deployed Insightful’s predictive analytics and reporting solutions, leading to significant impact on their growth and/or profitability.
“This year’s winners have delivered innovative solutions to important issues facing their businesses,” said Jeff Coombs, president and chief executive officer of Insightful. “We are pleased and proud that Insightful’s predictive analytics and reporting solutions have been used to develop substantial cost efficiencies and competitive advantage for our customers.”
Following is a brief description of the award winning applications:
* ImClone Systems, a fully integrated biopharmaceutical company, has deployed S-PLUS® Enterprise Server to create an intuitive system that tracks all of its production metrics, thereby enabling the company to produce products more quickly and efficiently.
* Macronix, a Taiwanese integrated device manufacturer, is providing engineering and business data analysis on demand across its entire production pipeline by implementing Insightful’s S-PLUS Enterprise Server along with customer-developed JavaÒ applications.
* Time/Warner Retail Sales & Marketing, the largest publisher-owned magazine retail marketer and distribution services company in the US, has improved production and distribution profitability as well as created a whole new data business by deploying Insightful’s S-PLUS Enterprise Server as its predictive analytics and reporting solution.
* Zurich Financial Services, an insurance-based financial services provider, utilized S-PLUS Enterprise Server to enable systems from all over the world to share data, models and results within its Risk Modeling Platform.
Statistical analysis software
Insightful Corporation Schedules Announcement of Financial Results for Third Quarter
SEATTLE - October 23, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its third quarter 2007 financial results and conference call for Friday, November 2, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before October 31, 2007, will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K.
An audio replay of the call will be available beginning at 6:00 p.m. PT the day of the call and ending at Midnight, PT November 9, 2007. An audio archive of the call will be available in MP3 format beginning November 9, 2007 and ending the first business day after the company’s fourth quarter 2007 conference call, in the Investor Relations section of the Insightful website located at http://www.insightful.com/investors/.
Statistical analysis software
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, has scheduled the announcement of its third quarter 2007 financial results and conference call for Friday, November 2, 2007, after market close. Jeff Coombs, president and CEO of Insightful, and Richard Barber, CFO of Insightful, will be present on the conference call. The call will begin at 2:00 p.m. PT (5:00 p.m. ET).
The company invites the public to submit questions for management via e-mail to investor@insightful.com. Responses to selected questions submitted on or before October 31, 2007, will be provided on the call. Written responses to selected questions about the company’s financial results received after the call, and before the close of business on the first business day after the call, will be posted in the Investor Relations section of the Insightful website (http://www.insightful.com/investors/), and if appropriate, filed with the Securities and Exchange Commission on Form 8-K.
An audio replay of the call will be available beginning at 6:00 p.m. PT the day of the call and ending at Midnight, PT November 9, 2007. An audio archive of the call will be available in MP3 format beginning November 9, 2007 and ending the first business day after the company’s fourth quarter 2007 conference call, in the Investor Relations section of the Insightful website located at http://www.insightful.com/investors/.
Statistical analysis software
Insightful Announces Operating Results for Third Quarter 2007
SEATTLE - November 2, 2007 -
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced its operating results for the third quarter ended September 30, 2007.
Insightful reported total revenues of $4.9 million in the third quarter of 2007, a decline of 16% when compared to revenues of $5.9 million in the third quarter of 2006. Total revenues associated with the company’s core data analysis product line decreased by 15% in the third quarter of 2007 compared to the third quarter of 2006. Revenues associated with the company’s text analysis product, InFact, decreased from $0.2 million in the third quarter of 2006 to $0.1 million in the third quarter of 2007. For the third quarter of 2007, Insightful reported net income of $1.9 million, or $0.14 per diluted share, compared to net income of $0.3 million, or $0.02 per diluted share, for the third quarter of 2006. Net income for the third quarter of 2007 includes a gain of $3.5 million on the sale of the company’s InFact search technology and associated intellectual property rights.
Non-GAAP operating results, which excludes stock-based compensation expense, amortization of intangible assets and the gain on the sale of InFact, were a loss of $1.4 million, or $0.11 per diluted share, for the third quarter of 2007, compared to a profit of $0.6 million, or $0.04 per diluted share, for the third quarter of 2006. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense, the amortization of intangible assets and the gain on the sale of the company’s InFact search technology and associated intellectual property rights. The reconciliation of Insightful’s GAAP net loss to its non-GAAP loss for the quarters ended September 30, 2007 and 2006 are set forth at the end of this release.
“We are disappointed with our results for the quarter,” said Jeff Coombs, president and CEO of Insightful. “We continue to feel that our strategic direction, to deliver packaged predictive analytic solutions built on an enterprise-scale S-PLUS platform, remains sound. However, we suffered from poor sales execution. Our lower revenues for the third quarter were in part a result of turnover in critical sales functions, of focusing too early on long sales cycles for products and solutions that have not yet been released, and of not closing the larger deals in our pipeline. We also saw declines in our professional services revenues, as custom projects dropped off in anticipation of product releases of packaged solutions.”
Continued Coombs, “We are determined to return to profitability while continuing to build a sound foundation for future revenue growth. To further our strategic enterprise direction, during the third quarter we released S-PLUS 8 Enterprise Server, a new analytic platform that provides improved scalability, reliability and compliance with IT standards for deployment of analytics applications across the enterprise, and continued our development of vertical solutions built on the S-PLUS 8 platform. Additionally, we’ve recognized the need for a unified worldwide sales and operations function. To this end, we are actively recruiting for a vice president of worldwide sales and professional services. Our regional vice presidents have resigned. Our vice president of North American sales has already left the company and our vice president of Europe will be transitioning out by the end of this quarter. The focus of the new function will be to unify and sell one set of worldwide solutions, thereby bringing scalability, simplicity, and effectiveness to our global sales operations.”
Quarterly Highlights
* Software license revenues were $1.6 million in the third quarter of 2007, as compared to $2.3 million in the third quarter of 2006. License revenues from the company’s data analysis product line decreased from $2.1 million to $1.5 million. License revenues from the company’s InFact product decreased from $0.2 million to $0.1 million.
* Maintenance revenues were $2.1 million in the third quarter of 2007, as compared to $1.9 million in the third quarter of 2006.
* Professional services and other revenues were $1.2 million in the third quarter of 2007, as compared to $1.7 million in the third quarter of 2006.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.46 million in the third quarter of 2007, as compared to $0.55 million in the third quarter of 2006.
* Domestic revenues were $2.5 million in the third quarter of 2007, as compared to $3.4 million in the third quarter of 2006. This decrease resulted primarily from a $0.7 decrease in revenues from the data analysis product line. International revenues were $2.4 million in the third quarter of 2007, as compared to $2.5 million in the third quarter of 2006.
* The company accelerated its investment in solutions focused on solutions in key vertical markets, and on enhancing its core S-PLUS® predictive analytic platform. As a result, net research and development expenses increased by 17% to $1.4 million in the third quarter of 2007, as compared to $1.2 million in the third quarter of 2006, and increased as a percentage of revenues from 20% to 28%.
* The company released S-PLUS 8 Enterprise Server, the latest release of its predictive analytic platform, and S+FinMetrics® 3.0, the latest release of its software library for advanced financial data analysis.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings or loss included in this press release is different from the GAAP measure of net income or loss, as this non-GAAP measure excludes certain items otherwise included in the computation of net income or loss. Insightful believes this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators management uses as a basis for planning and forecasting of future periods.
The expenses excluded from Insightful’s GAAP results include stock-based compensation expense, amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language and the gain on the sale of the InFact search technology and associated intellectual property rights. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets and the sale of the InFact-related technology and intellectual property were events outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense, amortization of intangible assets and the gain in the sale of InFact may be important to an understanding of Insightful’s ongoing operating performance.
Reconciliations of GAAP to non-GAAP results are as follows (in thousands, except share data):
Statistical analysis software
Insightful Corporation (NASDAQ: IFUL), a leading provider of predictive analytics and reporting solutions, today announced its operating results for the third quarter ended September 30, 2007.
Insightful reported total revenues of $4.9 million in the third quarter of 2007, a decline of 16% when compared to revenues of $5.9 million in the third quarter of 2006. Total revenues associated with the company’s core data analysis product line decreased by 15% in the third quarter of 2007 compared to the third quarter of 2006. Revenues associated with the company’s text analysis product, InFact, decreased from $0.2 million in the third quarter of 2006 to $0.1 million in the third quarter of 2007. For the third quarter of 2007, Insightful reported net income of $1.9 million, or $0.14 per diluted share, compared to net income of $0.3 million, or $0.02 per diluted share, for the third quarter of 2006. Net income for the third quarter of 2007 includes a gain of $3.5 million on the sale of the company’s InFact search technology and associated intellectual property rights.
Non-GAAP operating results, which excludes stock-based compensation expense, amortization of intangible assets and the gain on the sale of InFact, were a loss of $1.4 million, or $0.11 per diluted share, for the third quarter of 2007, compared to a profit of $0.6 million, or $0.04 per diluted share, for the third quarter of 2006. As described in the section below entitled “Use of Non-GAAP Financial Measures,” non-GAAP earnings or loss differs from net income or loss reported under accounting principles generally accepted in the United States (GAAP) due to the exclusion of stock-based compensation expense, the amortization of intangible assets and the gain on the sale of the company’s InFact search technology and associated intellectual property rights. The reconciliation of Insightful’s GAAP net loss to its non-GAAP loss for the quarters ended September 30, 2007 and 2006 are set forth at the end of this release.
“We are disappointed with our results for the quarter,” said Jeff Coombs, president and CEO of Insightful. “We continue to feel that our strategic direction, to deliver packaged predictive analytic solutions built on an enterprise-scale S-PLUS platform, remains sound. However, we suffered from poor sales execution. Our lower revenues for the third quarter were in part a result of turnover in critical sales functions, of focusing too early on long sales cycles for products and solutions that have not yet been released, and of not closing the larger deals in our pipeline. We also saw declines in our professional services revenues, as custom projects dropped off in anticipation of product releases of packaged solutions.”
Continued Coombs, “We are determined to return to profitability while continuing to build a sound foundation for future revenue growth. To further our strategic enterprise direction, during the third quarter we released S-PLUS 8 Enterprise Server, a new analytic platform that provides improved scalability, reliability and compliance with IT standards for deployment of analytics applications across the enterprise, and continued our development of vertical solutions built on the S-PLUS 8 platform. Additionally, we’ve recognized the need for a unified worldwide sales and operations function. To this end, we are actively recruiting for a vice president of worldwide sales and professional services. Our regional vice presidents have resigned. Our vice president of North American sales has already left the company and our vice president of Europe will be transitioning out by the end of this quarter. The focus of the new function will be to unify and sell one set of worldwide solutions, thereby bringing scalability, simplicity, and effectiveness to our global sales operations.”
Quarterly Highlights
* Software license revenues were $1.6 million in the third quarter of 2007, as compared to $2.3 million in the third quarter of 2006. License revenues from the company’s data analysis product line decreased from $2.1 million to $1.5 million. License revenues from the company’s InFact product decreased from $0.2 million to $0.1 million.
* Maintenance revenues were $2.1 million in the third quarter of 2007, as compared to $1.9 million in the third quarter of 2006.
* Professional services and other revenues were $1.2 million in the third quarter of 2007, as compared to $1.7 million in the third quarter of 2006.
* Funded research, which is an offset to research and development expense in the company’s income statement, was $0.46 million in the third quarter of 2007, as compared to $0.55 million in the third quarter of 2006.
* Domestic revenues were $2.5 million in the third quarter of 2007, as compared to $3.4 million in the third quarter of 2006. This decrease resulted primarily from a $0.7 decrease in revenues from the data analysis product line. International revenues were $2.4 million in the third quarter of 2007, as compared to $2.5 million in the third quarter of 2006.
* The company accelerated its investment in solutions focused on solutions in key vertical markets, and on enhancing its core S-PLUS® predictive analytic platform. As a result, net research and development expenses increased by 17% to $1.4 million in the third quarter of 2007, as compared to $1.2 million in the third quarter of 2006, and increased as a percentage of revenues from 20% to 28%.
* The company released S-PLUS 8 Enterprise Server, the latest release of its predictive analytic platform, and S+FinMetrics® 3.0, the latest release of its software library for advanced financial data analysis.
Use of Non-GAAP Financial Measures
The non-GAAP financial measure of earnings or loss included in this press release is different from the GAAP measure of net income or loss, as this non-GAAP measure excludes certain items otherwise included in the computation of net income or loss. Insightful believes this non-GAAP measure is useful to enhance an overall understanding of its past financial performance and also its prospects for the future. These adjustments to the company’s GAAP results are presented with the intent of providing both management and investors a more complete understanding of Insightful’s underlying operating results and trends. This non-GAAP measure is among the primary indicators management uses as a basis for planning and forecasting of future periods.
The expenses excluded from Insightful’s GAAP results include stock-based compensation expense, amortization of intangible assets arising from the 2004 acquisition from Lucent Technologies, Inc. of the title to the software code underlying the “S” programming language and the gain on the sale of the InFact search technology and associated intellectual property rights. Stock-based compensation expense and amortization of intangible assets have no current effect on cash or the future uses of cash. Insightful’s stock-based compensation expense fluctuates with changes in the company’s stock price and interest rates. For this reason, changes in stock prices and interest rates could mask variation and trends in Insightful’s GAAP operating results that may otherwise be important to an understanding of the company’s results. The acquisition of intangible assets and the sale of the InFact-related technology and intellectual property were events outside of the course of Insightful’s normal business operations. For these reasons, management believes that exclusion of stock-based compensation expense, amortization of intangible assets and the gain in the sale of InFact may be important to an understanding of Insightful’s ongoing operating performance.
Reconciliations of GAAP to non-GAAP results are as follows (in thousands, except share data):
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