CYREN 4Q 2013 revenues up

CYREN (NASDAQ: CYRN) reported its GAAP revenues totaled USD8.2m for the fourth quarter of 2013 compared to USD8.0m for the sequential third quarter of 2013 and USD6.8m in the fourth quarter of 2012.

Full year 2013 revenues totaled USD32.2m, an increase of 35 percent as compared to USD23.9m in 2012.

Non-GAAP revenues totaled USD8.4m for the fourth quarter of 2013 compared to USD8.1m for the sequential third quarter of 2013 and USD7.0m in the fourth quarter of 2012.

Full year 2013 non-GAAP revenues totaled USD32.8m, an increase of 36 percent as compared to USD24.1m in 2012.

The difference between non-GAAP and GAAP revenue is derived from the fact that deferred revenues consolidated from acquired companies are recorded based on fair value rather than book value for GAAP purposes.

GAAP net loss for the fourth quarter of 2013 was USD7.0m compared to net loss of USD0.9m for the sequential third quarter of 2013 and a net loss of USD0.5m in the fourth quarter of 2012. Full year 2013 GAAP net loss totaled USD9.9m compared to GAAP net income of USD1.5m in 2012.

Non-GAAP net loss for the fourth quarter 2013 was USD1.9m compared to non-GAAP net income of USD0.3m for the sequential third quarter of 2013 and non-GAAP net income of USD0.3m in the fourth quarter of 2012. Full year 2013 non-GAAP net loss totaled USD1.4m compared to non-GAAP net income of USD3.9m in 2012.

Non-GAAP loss per basic share for the fourth quarter 2013 was USD0.07, compared to non-GAAP earnings per diluted share of USD0.01 for the sequential third quarter of 2013 and USD0.01 in the fourth quarter of 2012. Full year 2013 non-GAAP loss per basic share was USD0.05 compared to non-GAAP net income per diluted share of USD0.16 in 2012.

CYREN provides the world´s largest service providers and software vendors with the Internet security solutions. Its website is at www.CYREN.com.

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