UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 6-K
REPORT OF
FOREIGN PRIVATE ISSUER
Pursuant
to Section 13a-16 or 15d-16 of the Securities and Exchange Act of 1934
For the
month of February, 2010
JACADA LTD.
(Translation
of registrant's name into English)
11
Galgalei Haplada Street
Herzliya,
46722 Israel
(Address
of principal executive offices)
Indicate by
check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F:
Form 20-F
X
Form
40-F ___
Indicate by
check mark if the Registrant is submitting this Form 6-K in paper as
permitted by Regulations S-T Rule 101(b)(1):
Yes ____ No
X
Indicate by
check mark if the Registrant is submitting this Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
Yes ____ No
X
Indicate by
check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.
Yes ____ No
X
If "Yes" is
marked, indicate below the file number assigned to the Registrant in
connection with Rule 12g3-2(b): 82- _N/A_
CONTENTS
This Report on Form 6-K of Jacada consists of the following documents,
which are attached hereto and incorporated by reference herein:
Press Release, released publicly on February 11, 2010: Jacada Reports
Fourth Quarter 2009 Results
SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report on Form 6-K to be signed
on
its behalf by the undersigned, thereunto duly authorized.
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JACADA LTD.
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By:
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/s/ ROBERT C. ALDWORTH
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Name:
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Robert C. Aldworth
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Title:
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Chief Financial Officer
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Dated:
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February 11, 2010
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Jacada
Reports Fourth Quarter 2009 Results
Q4
Revenues Grow 48% Sequentially to $5.7 Million
ATLANTA--(BUSINESS WIRE)--February 11, 2010--Jacada Ltd. (Nasdaq: JCDA),
a leading provider of customer experience management and process
optimization solutions, today reported financial results for the fourth
quarter and full-year period ended December 31, 2009.
Fourth Quarter 2009 Highlights
-
Revenues grew 48% sequentially to $5.7 million.
-
Net loss from continuing operations narrowed to $(578,000), or $(0.03)
per share compared to $(1.0 million), or ($0.06) per share, year over
year.
-
Entered into an agreement with a new customer, the Swedish subsidiary
of the world's largest gas and power company, E.ON, the first Jacada
utility contract in Europe and the start of our expansion into the
Nordics region.
-
First joint win with Wipro, to provide Jacada’s unified desktop
solution to a U.S national electric and gas utility. This was
announced during the quarter as a material deal, i.e. greater than
$1.0 million.
Subsequent to Year-End 2009
-
Signed partnership agreement with Upstream Works Software to expand
existing solutions to enable Jacada to introduce additional
functionality and advanced analytics capabilities into its Jacada
WorkSpace suite of unified service desktop solutions.
-
Completed implementation of the Unified Service Desktop for Central
Hudson Gas & Electric Corporation, a regulated gas and electricity
provider serving approximately 374,000 customers in eight counties in
New York State's Mid-Hudson River Valley region to deploy a more
efficient desktop environment that enables CSRs to improve
effectiveness and deliver better customer service to Central Hudson
customers.
2009 Full-Year Recap
-
Signed and announced seven material software and/or services contracts
with new and existing customers. The Company defines a material
contract as one with an initial value of $1.0 million or more.
-
Backlog, which includes unfilled orders and support renewals,
increased to $9.1 million, representing a 22% increase from December
31, 2008.
-
Increased focus on service projects and stringent expense controls
resulted in increased services revenues and improved service margins.
-
Ended the year with $23.8 million in cash and investments.
-
Jacada and O2 Telefonica UK, the leading provider of mobile services
to consumers and businesses in the UK, were recognized at the
prestigious Global Telecoms Business Awards by winning the Consumer
Service Innovation Award. The GTB Innovation Awards honor innovative
projects involving telecoms operators and service providers around the
world.
-
Announced a strategic partnership with Wipro, a global leader in
product engineering and support services, which will allow Jacada to
explore new market opportunities, leveraging the geographic reach and
resource flex provided by Wipro.
“The efforts we have made to improve our customer value proposition and
services delivery are starting to pay off in the form of improved
financial results,” said Tom Clear, chief executive officer for Jacada.
“We have challenged our services management teams to deliver results,
including assisting our customers with improving call center
efficiencies and generating additional revenue opportunities within each
account. One result has been a turnaround in our services business, both
for the quarter and year, which can be seen at the top- and bottom-lines
and with rebuilding of our backlog. These factors support our confidence
that we are successfully executing our customer-centric strategy, and we
are hopeful that we will continue to see improvements throughout the
coming year.”
Mr. Clear continued, “Our pipeline continues to improve, and our close
rate has also been encouraging. In the last quarter we signed material
agreements with the U.S. operations of a large international public
utilities company and the Swedish operations of German-based E.ON, which
shows the quality and size of the customers that we’re attracting. We
have industry leaders in each of our three primary verticals – telecom,
utilities and insurance/financial services – which again validate the
high quality of our pipeline. We’ve seen sequential revenue growth and
margin improvement, we’ve kept expenses in check, and we have assembled
a great team and the resources needed for 2010. These factors, coupled
with several near-term new product and solution launches, gives us
reason to be confident that many of these positive trends in our
business will continue into 2010 and we’re looking forward to an
exciting year of growth.”
Financial Results
For the fourth quarter of 2009, total revenues were $5.7 million
compared to $5.9 million in the fourth quarter of 2008, a decrease of 3%
but up 48% sequentially from $3.9 million in the third quarter of 2009.
Total service revenues were $4.5 million for the fourth quarter of 2009
compared to $4.1 million in the fourth quarter of 2008, an increase of
10%, and up 36% sequentially from $3.3 million in the third quarter of
2009. The sequential increase was due to higher software and services
revenues from ongoing implementations.
Total gross profit for the 2009 fourth quarter was $2.6 million or 46%
of total revenues compared to $2.7 million or 45% in the 2008 fourth
quarter and up sequentially from the third quarter of 2009 when gross
profit was $1.4 million or 37%. The increase in gross margin was driven
by the increase in software and services revenues.
The fourth quarter net loss from continuing operations was $(578,000) or
$(0.03) per share compared to a $(1.0 million) or $(0.06) per share in
the fourth quarter of 2008 and to a $(2.0 million) or $(0.12) per share
loss in the third quarter of 2009.
For the 2009 fourth quarter, the Company reported net income of $5,000
or $0.00 per share as compared to a net loss of $(2.6 million), or
$(0.16) per share in the 2008 quarter. The 2009 net income included
income from discontinued operations of $583,000, or $0.03 per share, net
of taxes, related to the discharge of a provision associated with the
discontinued operations. The 2008 net loss included, $(1.6 million) net
loss from discontinued operations.
For the full-year period ending December 31, 2009, total revenues were
$16.7 million compared to $24.4 million in 2008. The reduction in
revenues in the three month ending December 31, 2009 and full-year
periods are directly related to global business conditions throughout
2009 and to a decline in new business booked during 2008. However, the
company has experienced an increase in new bookings in recent quarters
and reported backlog at the end of the fourth quarter grew to $9.1
million, up from $7.4 million at December 31, 2008.
Gross profit for the full-year ended December 31, 2009 was $5.7 million
or 34% of total revenues compared to $11.9 million or 49.0% of total
revenues for the 2008 period.
During the full-year ending December 31, 2009, the Company incurred a
net loss from continuing operations of $(7.5 million) or $(0.45) per
share compared to $(5.0 million), or $(0.26) per share during 2008.
In 2009, the Company posted a net loss of $(6.9 million) or $(0.42) per
share compared to net income of $13.2 million, or $0.68 per share in
2008. The 2009 net loss included income from discontinued operations of
$583,000, or $0.03 per share, net of taxes, related to the discharge of
a provision associated with the discontinued operations. 2008 net income
included $18.2 million or $0.94 per share in income, net of taxes, from
discontinued operations, which was generated in the form of a capital
gain from the sale of the Company's legacy business during the 2008
first quarter.
At the end of the 2009 fourth quarter, cash and investments was $23.8
million, compared to $33.1 million at year end 2008, which amount
included $2.6 million in restricted cash, which was being held in escrow
as part of the sale of the company’s legacy business to Software AG and
which was subsequently released during 2009.The reduction in cash during
the 2009 fourth quarter of approximately $2.2 million resulted primarily
from the net loss from continuing operations of $578,000, an increase in
trade receivables of $423,000 in support of increased revenues during
the quarter, an increase in other current assets of $334,000 associated
with the deferral of certain services expenses and to a reduction of
accrued expenses of $810,000 related to the discontinued operation.
Conference Call Details
To participate in the teleconference, which is scheduled for today
February 11, 2010 at 10:30 a.m. ET, please call toll free
1-888-680-0869, or 617-213-4854 for international callers, and provide
passcode 23951289 approximately 10 minutes prior to the start time.
Interested parties may pre-register for the teleconference via this URL:
https://www.theconferencingservice.com/prereg/key.process?key=PLNBELCDR
.
A (live audio) webcast will also be available over the Internet at
www.jacada.com
(under "About Us" then "Investors") or
www.earnings.com
.
A replay of the teleconference will be available for three days
beginning at 1:30 p.m. ET on February 11, 2010. To access the replay,
dial toll-free 1-888-286-8010, or for international callers
617-801-6888, and provide passcode 23427022.
About Jacada
Jacada provides solutions that optimize and improve the effectiveness of
customer interactions. Jacada unified desktop and process optimization
solutions help companies reduce the cost of their operations, drive
customer satisfaction and provide a complete return on investment in as
little as 12 months after deployment. Founded in 1990, Jacada operates
globally with offices in Atlanta, USA; Herzliya, Israel; London,
England; Munich, Germany; and Stockholm, Sweden. More information is
available at
www.jacada.com
,
www.jacada.com/blog
,
www.jacada.com/facebook
and
www.jacada.com/twitter
.
This news release may contain forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995. The
words "may," "could," "would," "will," "believe," "anticipate,"
"estimate," "expect," "intend," "plan," and similar expressions or
variations thereof are intended to identify forward-looking statements.
Investors are cautioned that any such forward-looking statements are not
guarantees of the future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control. Actual results may differ materially from those projected in
the forward-looking statements as a result of various factors including
the performance and continued acceptance of our products, general
economic conditions and other Risk Factors specifically identified in
our reports filed with the Securities and Exchange Commission. The
Company undertakes no obligation to update or revise any forward-looking
statement for events or circumstances after the date on which such
statement is made. Jacada is a trademark of Jacada Inc. All other brands
or product names are trademarks of their respective owners.
Jacada is a trademark of Jacada Ltd. All other brands or product
names are trademarks of their respective owners.
CONSOLIDATED STATEMENTS OF OPERATIONS
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U.S. dollars in thousands, except per share data
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Three months ended
December 31,
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Year ended
December 31,
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2009
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2008
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2009
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2008
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Unaudited
|
Revenues:
|
|
|
|
|
|
|
|
|
Software licenses
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$
|
678
|
|
|
$
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1,275
|
|
|
$
|
1,370
|
|
|
$
|
7,647
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|
Services
|
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|
4,536
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|
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|
4,116
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|
|
|
12,967
|
|
|
|
14,540
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|
Maintenance
|
|
|
532
|
|
|
|
534
|
|
|
|
2,324
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|
|
|
2,178
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|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
5,746
|
|
|
|
5,925
|
|
|
|
16,661
|
|
|
|
24,365
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues:
|
|
|
|
|
|
|
|
|
Software licenses
|
|
|
64
|
|
|
|
77
|
|
|
|
238
|
|
|
|
544
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|
Services
|
|
|
2,928
|
|
|
|
2,975
|
|
|
|
10,047
|
|
|
|
11,038
|
|
Maintenance
|
|
|
128
|
|
|
|
187
|
|
|
|
648
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|
|
|
856
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|
|
|
|
|
|
|
|
|
|
Total cost of revenues
|
|
|
3,120
|
|
|
|
3,239
|
|
|
|
10,933
|
|
|
|
12,438
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
2,626
|
|
|
|
2,686
|
|
|
|
5,728
|
|
|
|
11,927
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
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Research and development
|
|
|
797
|
|
|
|
1,111
|
|
|
|
3,490
|
|
|
|
4,819
|
|
Sales and marketing
|
|
|
1,775
|
|
|
|
1,650
|
|
|
|
6,205
|
|
|
|
8,829
|
|
General and administrative
|
|
|
891
|
|
|
|
1,571
|
|
|
|
4,433
|
|
|
|
5,583
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|
Restructuring
|
|
|
-
|
|
|
|
451
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|
|
|
-
|
|
|
|
451
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|
|
|
|
|
|
|
|
|
|
Total operating expenses
|
|
|
3,463
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|
|
|
4,783
|
|
|
|
14,128
|
|
|
|
19,682
|
|
|
|
|
|
|
|
|
|
|
Operating loss
|
|
|
(837
|
)
|
|
|
(2,097
|
)
|
|
|
(8,400
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)
|
|
|
(7,755
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)
|
Financial income (expenses), net
|
|
|
39
|
|
|
|
(308
|
)
|
|
|
708
|
|
|
|
715
|
|
|
|
|
|
|
|
|
|
|
Pretax loss from continuing operations
|
|
|
(798
|
)
|
|
|
(2,405
|
)
|
|
|
(7,692
|
)
|
|
|
(7,040
|
)
|
Tax benefit
|
|
|
220
|
|
|
|
1,404
|
|
|
|
201
|
|
|
|
2,043
|
|
Net loss from continuing operations
|
|
|
(578
|
)
|
|
|
(1,001
|
)
|
|
|
(7,491
|
)
|
|
|
(4,997
|
)
|
Income from discontinued operations, net of taxes
|
|
|
583
|
|
|
|
(1,624
|
)
|
|
|
583
|
|
|
|
18,234
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
5
|
|
|
$
|
(2,625
|
)
|
|
$
|
(6,908
|
)
|
|
$
|
13,237
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted net income (loss) per share:
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
$
|
(0.03
|
)
|
|
$
|
(0.06
|
)
|
|
$
|
(0.45
|
)
|
|
$
|
(0.26
|
)
|
Discontinued operations
|
|
$
|
0.03
|
|
|
$
|
(0.10
|
)
|
|
$
|
0.03
|
|
|
$
|
0.94
|
|
Total
|
|
$
|
-
|
|
|
$
|
(0.16
|
)
|
|
$
|
(0.42
|
)
|
|
$
|
0.68
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares used in computing basic and
diluted net earnings (loss) per share
|
|
|
16,572,996
|
|
|
|
16,460,779
|
|
|
|
16,565,323
|
|
|
|
19,354,810
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED BALANCE SHEETS
|
U.S. dollars in thousands
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
2009
|
|
|
|
2008
|
|
|
|
Unaudited
|
|
Unaudited
|
ASSETS
|
|
|
|
|
|
|
|
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|
CURRENT ASSETS:
|
|
|
|
|
Cash and cash equivalents *)
|
|
$
|
12,624
|
|
|
$
|
11,059
|
|
Marketable securities *)
|
|
|
6,210
|
|
|
|
8,915
|
|
Trade receivables
|
|
|
4,949
|
|
|
|
4,713
|
|
Restricted cash held by trustee *)
|
|
|
-
|
|
|
|
2,640
|
|
Restricted cash *)
|
|
|
557
|
|
|
|
559
|
|
Other current assets
|
|
|
1,885
|
|
|
|
2,022
|
|
Assets held for sale
|
|
|
-
|
|
|
|
64
|
|
|
|
|
|
|
Total current assets
|
|
|
26,225
|
|
|
|
29,972
|
|
|
|
|
|
|
LONG-TERM INVESTMENTS:
|
|
|
|
|
Marketable securities *)
|
|
|
4,456
|
|
|
|
9,896
|
|
Severance pay fund
|
|
|
286
|
|
|
|
586
|
|
|
|
|
|
|
Total long-term investments
|
|
|
4,742
|
|
|
|
10,482
|
|
|
|
|
|
|
PROPERTY AND EQUIPMENT, NET
|
|
|
994
|
|
|
|
1,266
|
|
|
|
|
|
|
GOODWILL
|
|
|
3,096
|
|
|
|
3,096
|
|
|
|
|
|
|
Total assets
|
|
$
|
35,057
|
|
|
$
|
44,816
|
|
|
|
|
|
|
*) Total Cash and Investments including restricted cash
|
|
$
|
23,847
|
|
|
$
|
33,069
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS EQUITY
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES:
|
|
|
|
|
Trade payables
|
|
$
|
1,194
|
|
|
$
|
1,245
|
|
Deferred revenues
|
|
|
685
|
|
|
|
1,006
|
|
Accrued expenses and other liabilities
|
|
|
2,290
|
|
|
|
3,096
|
|
Liabilities held for sale
|
|
|
-
|
|
|
|
1,363
|
|
|
|
|
|
|
Total current liabilities
|
|
|
4,169
|
|
|
|
6,710
|
|
|
|
|
|
|
LONG-TERM LIABILITIES:
|
|
|
|
|
Accrued severance pay
|
|
|
505
|
|
|
|
1,120
|
|
Other liabilities
|
|
|
123
|
|
|
|
185
|
|
|
|
|
|
|
Total long-term liabilities
|
|
|
628
|
|
|
|
1,305
|
|
|
|
|
|
|
SHAREHOLDERS' EQUITY:
|
|
|
|
|
Share capital
|
|
|
60
|
|
|
|
60
|
|
Additional paid-in capital
|
|
|
75,422
|
|
|
|
75,173
|
|
Treasury shares
|
|
|
(17,863
|
)
|
|
|
(17,863
|
)
|
Accumulated other comprehensive profit
|
|
|
278
|
|
|
|
160
|
|
Accumulated deficit
|
|
|
(27,637
|
)
|
|
|
(20,729
|
)
|
|
|
|
|
|
Total shareholders' equity
|
|
|
30,260
|
|
|
|
36,801
|
|
|
|
|
|
|
Total liabilities
|
|
$
|
35,057
|
|
|
$
|
44,816
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED CASH FLOWS
|
U.S. dollars in thousands
|
|
|
|
Three months ended
December 31,
|
|
Year ended
December 31,
|
|
|
|
2009
|
|
|
|
2008
|
|
|
|
2009
|
|
|
|
2008
|
|
|
|
Unaudited
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
5
|
|
|
$
|
(2,625
|
)
|
|
$
|
(6,908
|
)
|
|
$
|
13,237
|
|
Less: net loss (income) from discontinued operations, net of taxes
|
|
|
(583
|
)
|
|
|
1,624
|
|
|
|
(583
|
)
|
|
|
(18,234
|
)
|
|
|
|
|
|
|
|
|
|
Net loss from continuing operations
|
|
|
(578
|
)
|
|
|
(1,001
|
)
|
|
|
(7,491
|
)
|
|
|
(4,997
|
)
|
Adjustments required to reconcile net loss from continuing
operations to net cash used in operating activities from continuing
operations:
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
132
|
|
|
|
358
|
|
|
|
574
|
|
|
|
811
|
|
Stock-based compensation related to options granted to employees and
directors
|
|
|
(138
|
)
|
|
|
89
|
|
|
|
420
|
|
|
|
860
|
|
Stock-based compensation related to options granted to non-employees
|
|
|
1
|
|
|
|
-
|
|
|
|
11
|
|
|
|
7
|
|
Accrued interest and amortization of premium on marketable securities
|
|
|
34
|
|
|
|
310
|
|
|
|
139
|
|
|
|
389
|
|
Loss (gain) on sales of marketable securities
|
|
|
-
|
|
|
|
281
|
|
|
|
(353
|
)
|
|
|
372
|
|
Decrease in accrued severance pay, net
|
|
|
(73
|
)
|
|
|
(32
|
)
|
|
|
(315
|
)
|
|
|
(18
|
)
|
Increase in trade receivables, net
|
|
|
(423
|
)
|
|
|
(911
|
)
|
|
|
(236
|
)
|
|
|
(1,100
|
)
|
Decrease (increase) in other current assets
|
|
|
(334
|
)
|
|
|
(203
|
)
|
|
|
176
|
|
|
|
(478
|
)
|
Increase (decrease) in trade payables
|
|
|
(31
|
)
|
|
|
28
|
|
|
|
(51
|
)
|
|
|
78
|
|
Decrease in deferred revenues
|
|
|
(134
|
)
|
|
|
(442
|
)
|
|
|
(307
|
)
|
|
|
(948
|
)
|
Decrease in accrued expenses and other liabilities
|
|
|
(266
|
)
|
|
|
(93
|
)
|
|
|
(1,266
|
)
|
|
|
(212
|
)
|
Increase (decrease) in other long-term liabilities
|
|
|
(20
|
)
|
|
|
(18
|
)
|
|
|
(62
|
)
|
|
|
185
|
|
Other
|
|
|
-
|
|
|
|
1
|
|
|
|
-
|
|
|
|
10
|
|
|
|
|
|
|
|
|
|
|
Net cash used in operating activities from continuing operations
|
|
|
(1,830
|
)
|
|
|
(1,633
|
)
|
|
|
(8,761
|
)
|
|
|
(5,041
|
)
|
Net cash used in operating activities from discontinued operations
|
|
|
(227
|
)
|
|
|
(1,454
|
)
|
|
|
(475
|
)
|
|
|
(1,695
|
)
|
|
|
|
|
|
|
|
|
|
Net cash used in operating activities
|
|
|
(2,057
|
)
|
|
|
(3,087
|
)
|
|
|
(9,236
|
)
|
|
|
(6,736
|
)
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
Investment in available-for-sale marketable securities
|
|
|
(6,888
|
)
|
|
|
(3,900
|
)
|
|
|
(12,801
|
)
|
|
|
(29,297
|
)
|
Proceeds from sale and redemption of available-for-sale marketable
securities
|
|
|
1,498
|
|
|
|
7,483
|
|
|
|
21,039
|
|
|
|
37,523
|
|
Short term deposits, net
|
|
|
1,889
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
Purchase of property and equipment
|
|
|
(59
|
)
|
|
|
(116
|
)
|
|
|
(303
|
)
|
|
|
(982
|
)
|
Proceeds from sale of property and equipment
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
5
|
|
Increase in restricted cash
|
|
|
-
|
|
|
|
(559
|
)
|
|
|
-
|
|
|
|
(559
|
)
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities from continuing
operations
|
|
|
(3,560
|
)
|
|
|
2,908
|
|
|
|
7,935
|
|
|
|
6,690
|
|
Proceeds from sale of discontinued operations, net
|
|
|
-
|
|
|
|
-
|
|
|
|
2,642
|
|
|
|
22,094
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities
|
|
|
(3,560
|
)
|
|
|
2,908
|
|
|
|
10,577
|
|
|
|
28,784
|
|
|
|
|
|
|
|
|
|
|
Cash from financing activities:
|
|
|
|
|
|
|
|
|
Purchase of treasury shares
|
|
|
-
|
|
|
|
(1
|
)
|
|
|
-
|
|
|
|
(17,863
|
)
|
Proceeds from exercise of stock options
|
|
|
3
|
|
|
|
192
|
|
|
|
68
|
|
|
|
914
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities from continuing
operations
|
|
|
3
|
|
|
|
191
|
|
|
|
68
|
|
|
|
(16,949
|
)
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash
|
|
|
(27
|
)
|
|
|
-
|
|
|
|
156
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Increase in cash and cash equivalents
|
|
|
(5,641
|
)
|
|
|
12
|
|
|
|
1,565
|
|
|
|
5,099
|
|
Cash and cash equivalents at the beginning of the quarter/year
|
|
|
18,265
|
|
|
|
11,047
|
|
|
|
11,059
|
|
|
|
5,960
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at the end of the period
|
|
|
12,624
|
|
|
|
11,059
|
|
|
|
12,624
|
|
|
|
11,059
|
|
Marketable securities
|
|
|
10,666
|
|
|
|
18,811
|
|
|
|
10,666
|
|
|
|
18,811
|
|
Restricted cash
|
|
|
557
|
|
|
|
3,199
|
|
|
|
557
|
|
|
|
3,199
|
|
|
|
|
|
|
|
|
|
|
Total cash and investments at the end of the period including
restricted cash
|
|
$
|
23,847
|
|
|
$
|
33,069
|
|
|
$
|
23,847
|
|
|
$
|
33,069
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONTACT:
Jacada
Bob Aldworth, 770-776 2267
Chief Financial
Officer
BAldworth@jacada.com
or
Hayden IR
Peter
Seltzberg, 646-415-8972
peter@haydenir.com
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