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MAM Software Group Inc. Reports Second Quarter and Six Month Financial Results

BARNSLEY, England Feb. 8, 2011 December 31, 2010 February 8, 2011

(In thousands, except share and per share data)

For the Three Months Ended December 31,

For the Six Months Ended December 31,

2010

2009

2010

2009

Revenues

$

             6,149

$

               6,746

$

              12,751

$

      12,958

Gross profit

$

             3,823

$

               4,259

$

                7,430

$

        7,524

Operating income

$

             1,071

$

                  265

$

                2,277

$

           855

Income before provision for income tax

$

                893

$

                  189

$

                1,630

$

           489

Net income (loss)

$

                663

$

                 (237)

$

                1,100

$

          (157)

Earnings per share attributed to common

stockholders – basic and diluted

$0.01

$0.01

Weighted average shares outstanding :

Basic

126,009,626

83,765,095 

105,861,027

83,630,793 

Diluted

127,788,467

83,765,095 

106,583,793

83,630,793 

$6,149,000 December 31, 2010 $597,000 $6,746,000 December 31 $1,071,000 December 31, 2010 $265,000 December 31, 2009 $893,000 December 31, 2010 $112,000 $189,000 December 31, 2009 $277,000 $663,000 $237,000 December 31, 2010

$12,751,000 December 31, 2010 $12,958,000 December 31, 2009 $207,000 $2,277,000 December 31, 2010 $855,000 December 31, 2009 $1,630,000 December 31, 2010 $164,000 $489,000 December 31, 2009 $315,000 $1,100,000 $157,000 December 31, 2010

December 31, 2010 Michael Jamieson $4.3 million $193,000 $358,000 December 31, 2010

About MAM Software Group, Inc.

http://www.mamsoftwaregroup.com/

MAM SOFTWARE GROUP, INC.

Condensed Consolidated Balance Sheets

(In   thousands,   except   share   and   per   share   data)

December 31,

June 30,

2010

2010

ASSETS

(unaudited)

Current Assets

Cash and cash equivalents

$

1,555

$

1,196

Accounts receivable, net of allowance of $136 and $192

2,605

2,520

Inventories

282

366

Prepaid expenses and other current assets

579

371

Total Current Assets

5,021

4,453

Property and Equipment, net

801

856

Other Assets

Goodwill

9,096

8,924

Amortizable intangible assets, net

2,425

2,757

Software development costs, net

1,457

1,520

Other long-term assets

96

49

TOTAL ASSETS

$

18,896

$

18,559

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities

Accounts payable

$

1,378

$

1,551

Accrued expenses and other

1,764

1,758

Payroll and other taxes

224

364

Current portion of settlement liability

326

Derivative liabilities

793

291

Current portion of long-term debt

739

5,000

Current portion of deferred revenue

509

641

Sales tax payable

682

598

Income tax payable

796

659

Total Current Liabilities

6,885

11,188

Long-Term Liabilities

Deferred revenue, net of current portion

168

345

Deferred income taxes

378

642

Settlement liability, net of current portion

525

Long-term debt, net of current portion

1,426

168

Other

337

359

Total Liabilities

9,194

13,227

Commitments and contingencies

Stockholders’ Equity

Preferred stock: Par value $0.0001 per share; 10,000,000 shares authorized, 1,792,662 and 0 issued and outstanding, respectively

Common stock: Par value $0.0001 per share; 150,000,000 shares authorized, 138,733,246 and  84,862,880 shares issued and outstanding, respectively

14

8

Additional paid-in capital

32,728

29,503

Accumulated other comprehensive loss

(729)

(768)

Accumulated deficit

(22,311)

(23,411)

Total Stockholders’ Equity

9,702

5,332

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

18,896

$

18,559

MAM SOFTWARE GROUP, INC.

Condensed Consolidated Statements of Operations and Comprehensive Income (loss)

(Unaudited)

(In thousands, except share and per share data)

For the Three Months Ended

For the Six Months Ended

December 31,

December 31,

2010

2009

2010

2009

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