InfoVista`s Bo
InfoVista`s Board of Directors,which met on April 29, 2009, has decided to cancel 650,000 of the Company`sshares. * At March 31, 2009, the Company allocated ?39,146 cash and 17,725 shares to theliquidity account, announced on October 3, 2008.Q3 Operational HighlightsRevenue Drivers:* Total third quarter revenues in the Americas region amounted to ?4.4 million,down 14% from the same period a year ago, and accounted for 41% of totalrevenues. At a constant exchange rate, third quarter revenues for the Americasregion would have been down 23% from the same period a year ago. In the US,business remained challenging, as a result of lengthening sales cycles,postponement of projects, and tougher market conditions. Much of the licensebusiness won in the quarter consists of repeat business. In the third quarter,InfoVista recorded ?1.5 million of license revenues for the multi-year agreementwith Microsoft signed in December 2007. * EMEA revenues, representing 49% of the total for the third quarter, amountedto ?5.4 million, a 13% decrease compared to ?6.2 million in the same quarter ayear earlier.
In mainland Europe, market conditions are difficult, however theCompany continued to gain market share in emerging countries. This quarter`srevenues included a significant first win from an Eastern European mobiletelephony operator. * Total revenues in Asia Pacific rose by 19% year-on-year to ?1.1 millioncompared to?1.0 million the prior year and accounted for 10% of total revenues in the thirdquarter. InfoVista won a significant repeat deal with a large Australiantelecommunications operator. * Revenues from the direct sales channel declined to ?7.8 million in thequarter, accounting for 72% of total revenues. Indirect revenues stood at ?3.1million, representing 28% of total revenues for the quarter. InfoVista`s serviceprovider revenues amounted to ?7.7 million, or 71% of total revenues.Technical Developments* In the quarter, InfoVista announced a number of industry firsts, including WANoptimization assurance and unification of network and application performancemanagement.
The launch incorporated the announcement of two new products, 5ViewService Data Manager (including Application Usage Manager) and ApplicationOptimization Manager. * Both of the new products are integrated with the VistaFoundation platform thathas created a carrier-class and large enterprise solution for application usagevisibility and WAN optimization assurance. The Application Optimization Managerhas also a standalone capability that creates a strong go-to-market offeringwith our partner Cisco Systems. * The Service Data Manager in conjunction with a new and enhanced 5View NetFlowAppliance extends the VistaInsight for Networks VPN reporting capability intothe application layer. These developments are the realization of the keyobjective behind the acquisition of the 5View technology. * Finally, VistaFoundation Kit 4.1 was released on time on March 31. The revisedarchitecture builds new features on top of changes introduced in VistaFoundationKit 4.0, with a constant focus on stability and upgrade capability.
The newfeatures include VistaPortal email scheduling, time zone shifting and improvedmonitoring via VistaCockpit leveraging new pages and new capabilities.Partnership Developments* In the third quarter, InfoVista won a first deal based on its partnership withCisco, announced in December 2008. The Company continues to develop businessthrough its recently announced partnerships to enable incremental revenuesources in the following fiscal year.Conference callInfoVista will host an investor conference call today at 9:00 a.m (EST) / 2:00p.m (UK) / 3:00 p.m (Continental Europe). The call will be available bydialing +33 (0)1 70 99 42 71 in France, +44 (0)20 7138 0824 in the UK, or +1 212444 0481 in North America and in each case followed by access code 9056234. Areplay will be available shortly after the end of the call at the followingnumbers: France: +33 (0)1 71 23 02 48, UK: +44 (0)20 7806 1970, North America:+1 718 354 1112 - all with access code 9056234#.