SOURCE: Asure Software

Asure Software

August 13, 2009 12:21 ET

Asure Announces Preliminary Fourth Fiscal Quarter 2009 Results

AUSTIN, TX--(Marketwire - August 13, 2009) - Asure Software (NASDAQ: ASUR) today announced the preliminary results of the 4th fiscal quarter ending July 31, 2009.

Highlights for the quarter relative to the 3rd fiscal quarter 2009 include:

--  Total bookings grew by 11%
--  Total backlog grew by 7%
--  Total revenue grew by 1%
--  New customers grew by 108
--  Gross margins grew by 1% to 80%
    

In addition to the 4th fiscal quarter financial results, the Company also announced that it reduced headcount by about 25% at the end of the fourth fiscal quarter. The headcount reduction will save the company nearly $2M annually and is part of on-going cost reductions that will help the Company achieve its near-term goal of EBITDA profitability.

"Our growth strategy for both of our software businesses is working. We had solid growth in our bookings and deferred backlog and that, coupled with our proactive expense management, will put us on a solid path to achieve EBITDA profitability by the end of this calendar year," said Nancy L. Harris, Chief Executive Officer of Asure.

The Company will outline the details of its 4th fiscal quarter results in an earnings call in September.

About Asure Software

Headquartered in Austin, Texas, Asure Software (ASUR), (a d/b/a of Forgent Networks, Inc.), empowers small to mid-size organizations and divisions of large enterprises to operate more efficiently, increase worker productivity and reduce costs through a comprehensive suite of on-demand workforce management software and services. Asure's market-leading suite includes products that optimize workforce time and attendance tracking, benefits enrollment and tracking, pay stubs and W2 documentation, expense management, and meeting and event management. With additional offices in Warwick, Rhode Island, Vancouver, British Columbia, and Mumbai, India, Asure serves 3,500 customers around the world. For more information, please visit www.asuresoftware.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Asure's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such risks and uncertainties, which include those associated with continued listing of the Company's securities on the NASDAQ Capital Market, could cause actual results to differ from those contained in the forward-looking statements.