wandisco plc (WAND) Snapshot

WANdisco plc announced availability of Subversion 1.8, which offers significantly improved merge capabilities and major improvements in storage efficiency. WANdisco offers free, fully tested, certified Subversion 1.8 binaries for download on its website. With Subversion 1.8, users will be benefited with long-awaited merge functionality enhancements as well as major improvements in storage efficiency. The enhancements include: Symmetric, or automatic, merge capability for simplifying the merge process and eliminating conflicts caused by users selecting the wrong type of merge; Simultaneous change handling between branches rather than differentiating between sync and reintegration merge forms; Rejection of merge attempts between unrelated branches to decrease the likelihood of user errors that often result in conflicts; Decrease in server set-up costs;Revision property packing and directory deltification to reduce backup and restore times as well as the number of files stored for up to more than 90% storage capacity savings.

WANdisco plc announced a change to its board of directors. Having joined the company in November 2011, with the principal objective of securing the company's highly successful Admission to AIM in June 2012, Nick Parker has informed the company of his intention to step down from his role as Chief Financial Officer and from the Board now that the Admission to AIM, associated major fund raising and first set of annual results have all been successfully delivered. With the significant balance of the company’s current sales generated in the US, and with future sales growth expected to be generated in markets outside of the UK, particularly in Asia, the Board has decided to take this opportunity to relocate the CFO role to its existing corporate office in California. Accordingly, the company announced the appointment of Paul Harrison as the company's new Chief Financial Officer. Harrison joins the company from The Sage Group plc. Harrison joined Sage in 1997 from Price Waterhouse to become Group Financial Controller. He joined the Board of Sage in April 2000 as Chief Financial Officer. In May 2007, he was appointed to the Board of Hays plc as a Non-Executive Director and, in November 2011, became its Senior Independent non-executive director. Harrison's appointment will take effect from September 1, 2013. Ahead of that date, Parker will remain in both his CFO and Board positions ensuring continuity in the management of the company’s financial affairs.

WANdisco plc announced Preliminary consolidated earnings results for the year ended December 31, 2012. For the year, revenue was $6,031,000 against $3,878,000 in the same period a year ago. Loss from operations was $8,541,000 against $1,154,000 in the same period a year ago. Loss before taxation was $7,981,000 against $1,229,000 in the same period a year ago. Loss for the year was $7,981,000 against $1,204,000 in the same period a year ago. Total comprehensive income for the period was $7,965,000 or $0.49 per basic and diluted share against $1,211,000 or $0.26 per basic and diluted share in the same period a year ago. Net cash sued in operating activities was $4,146,000 against net cash generated from operating activities of $898,000 in the same period a year ago. Purchase of property, plant and equipment was $138,000 against $7,000 in the same period a year ago. Purchase of intangible assets was $1,000,000. Loss from operations before exceptional items was $5,885,000 against $949,000 in the same period a year ago. Loss before taxation before exceptional items was $6,101,000 against $1,024,000 in the same period a year ago. Loss for the year before exceptional items was $6,101,000 against $999,000 in the same period a year ago. Total comprehensive income for the period before exceptional items was $6,085,000 against $1,006,000 in the same period a year ago. Adjusted LBITDA was $3,002,000 against adjusted EBITDA of $150,000 in the same period a year ago.