BluePhoenix Solutions Ltd. Reports Third Quarter 2013 Results

SEATTLE, Washington December 10, 2013 – BluePhoenix Solutions Ltd. (NASDAQ: MDSY), the leader in legacy platform modernization, today announced financial results for the third quarter of 2013.

Third quarter 2013 operating loss was $1.2 million compared to third quarter 2012 loss of $792 thousand. Third quarter 2013 non-GAAP operating loss was $894 thousand compared to third quarter 2012 loss of $132 thousand. Third quarter 2013 non-GAAP operating expenses remained steady at $1.8 million as compared to the second quarter of 2013. Third quarter 2013 non-GAAP loss per share was at $0.09 per diluted share compared to a loss of $0.05 in second quarter 2013 and a loss of $0.03 in the third quarter 2012. Ending cash decreased $200 thousand to $1.7 million in the third quarter of 2013 compared to $1.9 million in the second quarter of 2013.

BluePhoenix will go over the following numbers during the quarterly conference call today at 4:30PM Eastern Standard time. The call can be accessed by dialing 1-877-941-6009 within the United States, or via local US number 1-480-629-9818 if calling internationally, approximately five minutes prior to its scheduled commencement. A replay can be accessed through a link on the BluePhoenix website until January 5, 2013.

Click here to download Earnings Data.

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