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April 27, 2017

Attunity Reports First Quarter 2017 Results

BURLINGTON, Massachusetts, April 27, 2017 — Attunity Ltd. (NasdaqCM: ATTU), a leading provider of data integration and Big Data management software solutions, today reported its unaudited financial results for the three-month period ended March 31, 2017.

“The first quarter of 2017 represents record first quarter results, including a 25% increase in license revenue, an 18% increase in total revenue, and strong cash flow from operations,” stated Shimon Alon, Chairman and CEO of Attunity. “Our suite of Big Data solutions, including the recently launched Replicate for SAP, continues to set us apart as innovators in the market.  The importance of our solutions in the Big Data, data lakes and cloud markets are increasingly being validated by our customers. As a result, the growing brand awareness of Attunity and market demand for our solutions from new and current customers is helping us to achieve our goals.”

Recent Operational Highlights

  •  Closed agreements with new and existing Replicate customers for Attunity Replicate for SAP
    o Closed a $1.8 million deal with a global food processing company using Attunity Replicate for SAP to ingest SAP data in real-time to its Hadoop data lake
    o Closed initial deal for several hundred thousand dollars with one of the largest telecommunications companies in the world
  •  Signed a deal that expands an existing strategic license agreement with a leading Cloud services provider
  •  Received several industry awards:
    o ‘Developers’ Choice for Data Integration and Management’ by Hosting Advice
    o ‘Best Big Data Management Company’ by Corporate Vision Magazine’s Technology Innovator Awards
    o Finalist in Cloud International’s 2016-2017 Cloud Awards Program in the ‘Best Cloud Business Intelligence or Analytics Solution’ category

Financial Highlights for Q1 2017, compared with Q1 2016

  • Total revenue was $13.8 million, compared with $11.7 million
  • Operating loss was $0.6 million, compared with operating loss of $3.2 million
  • Non-GAAP operating profit was $0.5 million, compared with non-GAAP operating loss of $1.1 million*
  • Net loss of $1.5 million, compared with net loss of $3.6 million
  • Non-GAAP net loss of $0.4 million, compared with Non-GAAP net loss of $1.7 million*
  • Positive cash flow from operations of $2.9 million, compared with $2.4 million cash used in operating activities

Big Data Management and Cloud Solutions

The demand for Hadoop and data lake solutions continues to grow, driven by business needs for real-time analytics and IoT solutions. Combined with more customers moving to production with Big Data solutions, Attunity sees growth in the demand for its solutions. The customers’ strategic data lake initiatives are typically larger in scale, generating sales opportunities that range from several hundred thousand dollars to over a million dollars, and continue to play an important role in driving our topline growth.

We believe that Attunity’s competitive strength is primarily in its ability to deliver a universal, hybrid and real-time platform. Customers prefer the universal platform as it meets their need for broad support of data sources and targets, including hybrid environments across cloud and on premise data centers.  Attunity ramped up its activity in the SAP market, the largest in the ERP industry, with its Replicate for SAP solution. This solution offers a unique value to the SAP market and strengthens Attunity’s differentiation with an application-level replication that its traditional competition does not offer. Market demand for the Attunity Replicate for SAP solution was validated in a relatively short period of time by customers. Looking ahead, there is a great interest for Attunity Replicate for SAP among Fortune 500 companies, which are key in driving future deal size.

The cloud continues to present a growth opportunity for Attunity as enterprises look to migrate their databases to cloud platforms, and leverage the cloud as a platform for data lakes and big data analytics. These needs drive the demand for efficient and reliable solutions for moving data from customers’ data centers. Attunity is well positioned to accommodate this growing need with its hybrid data ingestion and replication platform, engaging customers directly as well as referrals from leading global partners, such as Amazon Web Services (AWS) and Microsoft.

Financial Results for Q1 2017

Total revenue for the first quarter of 2017 increased 18% to $13.8 million, compared with $11.7 million for the same period in 2016. This includes license revenue of $7.0 million, which increased 25% compared with $5.6 million for the same period in 2016, and maintenance and service revenue, which grew 11.4% to $6.9 million, compared with $6.2 million for the same period in 2016.

Operating expenses for the first quarter of 2017 decreased 3% to $14.5 million, compared with $14.9 million for the same period in 2016.

Non-GAAP operating expenses for the first quarter of 2017 increased 3.6% to $13.3 million, compared with $12.8 million for the first quarter of 2016. Non-GAAP operating expenses in the first quarter of 2017 exclude approximately $1.2 million in expenses and amortization associated with acquisitions and equity-based compensation expenses, compared with $2.1 million of similar expenses for the same period in 2016.*

Operating loss for the first quarter of 2017 was $0.6 million, compared with $3.2 million for the same period in 2016.

Non-GAAP operating income was $0.5 million for the first quarter of 2017, compared with an operating loss of $1.1 million for the first quarter of 2016. Non-GAAP operating income for the first quarter of 2017 excludes a total of $1.2 million in expenses and amortization associated with acquisitions and equity-based compensation expenses, compared with $2.1 million of similar expenses for the same period in 2016.*

Net loss for the first quarter of 2017 was $1.5 million, or ($0.09) per diluted share, compared with a net loss of $3.6 million, or ($0.22) per diluted share, in the first quarter of 2016.

Non-GAAP net loss for the first quarter of 2017 was $0.4 million, or ($0.02) per diluted share, compared with non-GAAP net loss of $1.7 million, or ($0.10) per diluted share, for the same period in 2016. Non-GAAP net loss for the first quarter of 2017 excludes approximately $1.1 million primarily in expenses and amortization associated with acquisitions and equity-based compensation expenses, compared with $1.8 million of similar expenses for the same period in 2016.*

Cash and cash equivalents were $12.0 million as of March 31, 2017, compared with $9.2 million as of December 31, 2016. During the first quarter of 2017 we generated positive cash flow from operations of $2.9 million, compared with $2.4 million cash used in operating activities during the same period in 2016.

Shareholders’ equity as of March 31, 2017 decreased to $32.2 million, compared with $32.6 million as of December 31, 2016.

Conference Call and Webcast Information

The Company will host a conference call with the investment community on Thursday, April 27th at 8:30 a.m. Eastern Time featuring remarks by Shimon Alon, Chairman and CEO of Attunity, Dror Harel-Elkayam, CFO of Attunity, and Itamar Ankorion, Chief Marketing Officer. The dial-in numbers for the conference call are +1-877-397-0298 (U.S. Toll Free), +1 80 925 8243 (Israel), or +1-719-325-4747 (International). All dial-in participants must use the following code to access the call: 2976626.

Please call at least five minutes before the scheduled start time.  The conference call will also be available via webcast, which can be accessed through the Investor Relations section of Attunity’s website, ir.attunity.com.  Please allow extra time prior to the call to visit the site and download any necessary software to listen to the live broadcast.

For interested individuals unable to join the conference call, a replay of the call will be available through May 11, 2017, at +1-844-512-2921 (U.S. Toll Free) or 1-412-317-6671 (International). Participants must use the following code to access the replay of the call: 2976626. The online archive of the webcast will be available on ir.attunity.com/events for 30 days following the call.

About Attunity 
Attunity is a leading provider of data integration and Big Data management software solutions that enable availability, delivery, and management of data across heterogeneous enterprise platforms, organizations, and the cloud. Our software solutions include data replication and distributiontest data managementchange data capture (CDC)data connectivityenterprise file replication (EFR), managed file transfer (MFT), data warehouse automationdata usage analytics, and cloud data delivery.

Attunity has supplied innovative software solutions to its enterprise-class customers for over 20 years and has successful deployments at thousands of organizations worldwide. Attunity provides software directly and indirectly through a number of partners such as Microsoft, Oracle, IBM and Hewlett Packard Enterprise. Headquartered in Boston, Attunity serves its customers via offices in North America, Europe, and Asia Pacific and through a network of local partners. For more information, visit http://www.attunity.com or our blog and join our community on TwitterFacebookLinkedIn and YouTube.


Source: Attunity

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