This excerpt taken from the BSQR 8-K filed Aug 11, 2005.
Now! software product continued to show strength, contributing $503,000 to software revenue in the quarter, as compared to $584,000 and $491,000 in the second quarter of 2004 and the first quarter of 2005, respectively. This quarter included $300,000 in proprietary software revenue attributable to previously unreported royalties from an OEM on non-SDIO products. BSQUARE expects ongoing royalty revenue from this OEM in the future, but not of the magnitude seen in the second quarter.
Service revenue for the quarter was $2.5 million, compared to $2.8 million and $2.4 million in the second quarter of 2004 and first quarter of 2005, respectively. The increase in service revenue over the first quarter of 2005 was attributable to a $342,000 increase in North American service revenue, driven by
overall higher activity levels that resulted in a 23% increase in billable hours. As we commented in our March conference call, we have been taking steps to improve our sales execution, and we saw early results of those efforts this quarter, Crowley said. We expect service revenue to improve again in the third quarter based on the strength of both our North American and international backlog and pipeline.
This excerpt taken from the BSQR 8-K filed May 5, 2005.
Now! revenue as compared to those prior quarters.
Service revenue for the quarter was $2.4 million, compared to $2.9 million in the first quarter of 2004 and $2.4 million in the fourth quarter of 2004. The decline from the year-ago quarter was attributable to lower billable hour volumes on U.S. projects, driven by lower activity at several key service customers. As we commented in our March conference call, the services performance this quarter, particularly in the U.S. marketplace, was unacceptable, Crowley said. We have taken steps during the current quarter to improve sales execution, including the hiring of a new vice president, and we are starting to see increased productivity from salespeople hired in 2004. These factors have resulted in pipeline growth and, more importantly, an increase in our service backlog going into the second quarter. We expect service revenue to increase in the second quarter based on the strength of this backlog.
This excerpt taken from the BSQR DEF 14A filed Apr 6, 2005.
Now! updates to be released later in 2005. We have defined our device solution roadmap and are working hard on developing the technologies and partnerships such that we can begin releasing these solutions in 2005.
· Continuing to drive synergies between our Microsoft Embedded Windows licensing and our own products and services. We sell Embedded Windows licenses to hundreds of companies each month, and we view each of these companies as potential product and service targets. We have recently
brought new sales leadership on board and will execute sales and marketing activities this year in support of this objective.
· Looking for partnership and acquisition opportunities that will help us execute our roadmap faster.
BSQUARE continues to operate in an exciting and growing market space. We believe that we have the technology, experience, brand and relationships to grow our company and create additional value for our shareholders. While 2004 was a challenging year in many respects, it was also a satisfying year, as we have established a solid operating platform from which we can grow. We wish to thank you, our shareholders, for your support during 2004, and look forward to a successful 2005.
This excerpt taken from the BSQR 8-K filed Mar 9, 2005.
Now! were $357,000 and $443,000 in the fourth quarters of 2004 and 2003, respectively, and $578,000 in the third quarter of 2004. We generated $320,000 in non-SDIO BSQUARE software sales during the quarter. We saw a purchase of our Smartbuild reference design, in the amount of $190,000, from a military contractor we worked with previously. We expect future purchases from this customer but likely not in Q1. Our Smartbuild reference design demonstrates the types of opportunities on which we plan to capitalize in 2005.
Software revenue for the full-year 2004 was $28.4 million, including $25.7 million in third party software sales and $1.8 million in sales of