CARY, NC--(Marketwire -04/25/12)- Cicero Inc. (CICN.OB - News), a leading global provider of Customer Experience management and integration technologies, today announced results of operations for its first quarter ending March 31, 2012.
For the three months ending March 31, 2012, the company generated revenues of approximately $3,669,000 as compared with $729,000 in the same period one year ago or an increase of 403%. The Company was able to generate net income of approximately $2,157, 000 or $.04 per share as compared to a net loss of approximately ($435,000) in the same period one year ago.
In addition, the Company was able to reduce its overall debt structure by approximately $4,500,000. Of that amount, approximately $3,841,000 was converted into 25,608,760 shares of common stock.
"Our performance in the first quarter of 2012 is the result of an extremely dedicated team and exceptional technology," said John Broderick, CEO. "We have previously announced two very significant contracts in the BPO and Financial services sectors, which we will build upon in the coming months. Our technology is being recognized by the business community and deployed by Fortune 100 companies. The combination of a solid financial quarter and our strengthened balance sheet should help us reach our targets in 2012."
About Cicero Inc.
Cicero Inc. provides solutions that enable business transformation of enterprise interactions across companies and government organizations. Cicero XM technology delivers this capability via an innovative combination of desktop integration, automation, presentation and analytics capabilities, built to transform customer interaction into the most powerful marketing and branding asset a company can own. Cicero stands out among other software solutions for its ease of configuration and change control eliminating up to 90% of the change control costs and time, providing the ability to deliver actionable intelligence through efficient combination of telephony and interaction data, and delivering immediate benefits with an ROI in less than 6 months. Learn more at www.ciceroinc.com.
Cicero, Cicero XM, Cicero XM Discovery, United Desktop, and United Data Model are trademarks or registered trademarks of Cicero Inc. and/or its affiliates. Other company names and/or products are for identification purposes and are the property of, and may be trademarks of, their respective owners.
Safe Harbor: Except for any historical information contained herein, this news release may contain forward-looking statements on such matters as strategic direction, anticipated return on investment, business prospects, the development and capabilities of the Cicero product group, new products and similar matters. Actual results may differ materially from the anticipated results or other expectations expressed in this release of a variety of factors, including risks that customers may not adopt the Cicero technology, which Cicero Inc. may not successfully execute its new strategic initiative and other risks and uncertainties that could cause actual results to differ materially from such statements. For a description of other factors that could cause such a difference, please see Cicero Inc.'s filings with the Securities and Exchange Commission.