Rally Software Q1 2014 revenues up 21% from prior year's quarter

Rally Software (NYSE: RALY) said its first quarter of 2014 revenues were USD19.4m, an increase of 21 percent compared to the first quarter in the same period one year ago.

GAAP net loss of USD(8.5)m, or a loss of USD(0.34) per basic and diluted share based on 24.8m weighted average shares of common stock outstanding, as compared to a GAAP net loss of USD(5.8)m, or a loss of USD(0.98) per basic and diluted share based on 5.9m weighted average shares of common stock outstanding in the same period one year ago.

Non-GAAP net loss of USD(6.8)m, or USD(0.27) per basic and diluted share, as compared to a non-GAAP net loss of USD(5.1)m, or USD(0.86) per basic and diluted share in the same period one year ago (see the table titled “Statement of Operations GAAP to Non-GAAP Reconciliation” for a reconciliation of these GAAP and non-GAAP financial measures).

Rally Software is a leading global provider of cloud-based solutions for managing Agile software development. The Rally Agile application lifecycle management (ALM) platform transforms the way organizations manage the software development lifecycle by closely aligning software development and strategic business objectives, facilitating collaboration, increasing transparency and automating manual processes.

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