Saba has reported improved financial results for its first quarter of fiscal year 2005 compared to the same period last year.
Total revenues were $9.3 million, representing a 13% increase compared to $8.2 million in the first quarter of fiscal year 2004.
Gross margins increased to 67% in the quarter compared to 58% in the first quarter of fiscal year 2004, excluding amortization of acquired developed technology.
The net loss on a GAAP basis was $0.12 per share, or a loss of $1.7 million, compared to a loss of $0.44 per share, or $5.9 million in the first quarter of fiscal year 2004.
Saba completed software deals for 25 customers in the quarter of which 16 deals were new customers.
"Saba achieved significant year-over-year growth in the first quarter of fiscal year 2005, and we remain on track to meet our growth and profitability goals for the fiscal year," said Saba chairman and CEO Bobby Yazdani.
