BluePhoenix Reports Second Quarter 2014 Results

Seattle, WA: BluePhoenix Solutions Ltd. (NASDAQ: MDSY) today announced second quarter 2014 results with revenue of $1.9M and operating loss of ($797K) that was favorable $63K on a sequential quarter over quarter basis vs. Q1 2014.

On a non-GAAP basis, operating expenses were $1.4M and $405K favorable vs. Q2 2013. Also, non-GAAP operating loss was ($595K) and $83K favorable on a sequential quarter over quarter basis vs. Q1 2014.

Matt Bell, Chief Executive Office and President, commented, “We are satisfied with the stabilization in the numbers and are excited about this pending merger. The combined entity not only makes us bigger and serves a more global market but it broadens our technology and solution set. The combined companies have synergies that we’re excited to leverage as soon as the deal is officially closed.”

Click here to view the full press release. See related 8-K and 10-Q filings for additional details.

BluePhoenix will go over the following numbers during the quarterly conference call today at 4:30PM Eastern Daylight Savings Time. The call can be accessed by dialing 1- 888-430-8691 within the United States, or via local US number 1-719-325-2435 if calling internationally, approximately five minutes prior to its scheduled commencement. The participant code for the call is 1768811.

A replay can be accessed through a link on the Modern Systems website.

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