Burlington, Mass.-based Bridgeline Digital, Inc. announced that revenue for the fourth quarter ended Sept. 30 was $6.7 million and the company generated positive Adjusted EBITDA.
Revenue in the fourth quarter of 2013 was $6.7 million compared to $6.7 million in the fourth quarter of 2012.
Subscription and perpetual license revenue increased 108 percent to $1.3 million in the fourth quarter, when compared to the fourth quarter of 2012.
Revenue from its core business, which includes iAPPS and the ElementsLocal platform, increased 30 percent compared to the fourth quarter of 2012.
Revenue from legacy non-iAPPS related customers declined 61 percent or $1.4 million compared to the fourth quarter of 2012.
Recurring revenue increased 38 percent in the fourth quarter to $1.5 million, compared to the fourth quarter of 2012.
“For fiscal 2014, revenue is expected to be approximately $28 million, an increase from $24.5 million in fiscal 2013 and I expect to generate positive Adjusted EBITDA for the fiscal year. In fiscal 2014 our revenue projection includes a projected increase of the company’s core business to increase approximately 32 percent from fiscal 2013 and a reduction of non-iAPPS related legacy revenue of approximately $2.5 million. Fiscal 2014 will really help validate the type of growth company we are,” said Thomas Massie, president and CEO.
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