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Bridgeline Digital, Inc. (BLIN) Research Update Released

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New York, NY - February 27, 2014 (www.investorideas.com newswire) Taglich Brothers released an updated research report on Bridgeline Digital, Inc. (BLIN) and reiterated a Speculative Buy rating with a 12-month price target of $1.40 per share. The report noted the following key investment considerations:

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  • We project annual iAPPS revenue growth of 25.8% (FY13A to FY15E), reflecting higher iAPPS digital subscriptions driven by the acquisition of 3,200 customer sites in August 2013.
  • In August 2013, Bridgeline acquired Elements Local, expanding its potential digital subscription customer base.
  • BLIN’s enterprise and digital subscription platforms are poised to reach $30.4 million in FY15, up from $25 million in FY14 and $19.2 million in FY13. iAPPS gains will be offset by a reduction in non-iAPPS sales by over $2 million to $2.4 million in FY14 and by $200,000 to $2.2 million in FY15.
  • In 1Q14 (reported 2/14/14) sales increased 5.2% to $6.5 million due to a $1.4 million gain in iAPPS sales to $5.6 million, partly offset by a $1.1 million reduction in non-iAPPS revenue. Losses were flat at ($0.04) per share. We projected sales of $6.7 million and a loss of ($0.04) per share.
  • We reduced our FY14 sales forecast by $400,000 to $27.4 million due to the unanticipated lack of Elements Local customer conversions in 1Q14. Due to a reduction in our gross margin forecast, our loss projection increased by $400,000 to $2.7 million or ($0.15) per share.
  • We lowered our FY15 sales projection by $800,000 to $32.6 million, reflecting the slower than anticipated pace of deploying iAPPS enterprise and digital subscription contracts. The pace of deployments will dictate when profitability is achieved. We have reduced our prior operating profit forecast of $60,000 to a loss of $195,000. Our net loss per share forecast increased to ($0.05) from ($0.04) per share.

The full report can be viewed at http://www.taglichbrothers.com.

Company Description:

Bridgeline Digital Inc., headquartered in Woburn, Massachusetts is a developer of software technology, tools, and service that enable organizations to optimize their online business processes. The company’s iAPPS technology suite's aim is to unify web content management, analytics, e-commerce, and e-marketing capabilities that enhance both web and customer experience management capabilities.

Taglich Brothers:

Taglich Brothers, Inc. is full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.

The Taglich Brothers' Equity Research department is dedicated to providing research reports that are informative, insightful and illuminating. Reports are designed to distill volumes of investment information into a concise, straightforward format so that busy professional investors can make informed investment decisions.

Disclaimer:

The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statement is the opinion of Taglich Brothers, Inc. and is not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in this report are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. As of the date of this report, we, our affiliates, any officer, director or stockholder, or any member of their families do not have a position in the stock of the company mentioned in this report. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned in this report and was not a manager or co-manager of any offering for the company with in the last three years. The company prepaid for the first three months of distribution a total of $4,500 (USD) in January 2012, and will pay beginning June 2012 a monthly monetary fee of $1,500 (USD) to Taglich Brothers, Inc. for the creation and dissemination of research reports.

Contact

Richard Oh
Email: press@taglichbrothers.com

More Info:

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