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TigerLogic Corporation Announces Results for Third Quarter Ended December 31, 2010

IRVINE, Calif. Feb. 11, 2011 December 31, 2010 $3.7 million December 31, 2010 $3.5 million December 31, 2009 December 31, 2010 $0.5 million $0.7 million $0.02 $0.03 December 31, 2010 December 31, 2009 $11.4 million December 31, 2010 $12.7 million December 31, 2009

December 31, 2010 $0.1 million $0.5 million

About TigerLogic Corporation

http://www.tigerlogic.com

December 31, 2010

TigerLogic, yolink, Raining Data, Pick, mvDesigner, D3, mvEnterprise, mvBase, Omnis, and Omnis Studio are trademarks of TigerLogic Corporation.  All other trademarks and registered trademarks are properties of their respective owners.

TIGERLOGIC CORPORATION AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In Thousands)

December 31,

March 31,

2010

2010

ASSETS

Current assets

    Cash

$               11,375

$               12,492

    Trade accounts receivable, less allowance for doubtful

       accounts of $23 and $26, respectively

1,245

954

    Other current assets

396

412

         Total current assets

13,016

13,858

Property, furniture and equipment-net

730

766

Goodwill

26,388

26,388

Deferred tax assets

269

379

Other assets

109

113

         Total assets

$               40,512

$               41,504

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

    Accounts payable

$                    281

$                    192

    Accrued liabilities

1,686

1,686

    Deferred revenue

4,363

4,314

         Total current liabilities

6,330

6,192

Commitments and contingencies

Stockholders’ equity

    Preferred stock

                          –

                          –

    Common stock

2,803

2,793

    Additional paid-in-capital

133,581

132,543

    Accumulated other comprehensive income

2,263

2,246

    Accumulated deficit

(104,465)

(102,270)

         Total stockholders’ equity

34,182

35,312

         Total liabilities and stockholders’ equity

$               40,512

$               41,504

TIGERLOGIC CORPORATION AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

Three Months Ended

Nine Months Ended

December 31,

December 31,

2010

2009

2010

2009

Net revenues

Licenses

$        1,348

$        1,118

$        3,354

$        3,122

Services

2,353

2,393

6,965

7,338

Total net revenues

3,701

3,511

10,319

10,460

Operating expenses

Cost of license revenues

4

4

10

28

Cost of service revenues

428

445

1,279

1,245

Selling and marketing

1,216

1,332

3,524

3,196

Research and development

1,479

1,581

4,481

4,698

General and administrative

965

1,048

3,030

3,107

Total operating expenses

4,092

4,410

12,324

12,274

Operating loss

(391)

(899)

(2,005)

(1,814)

Other income (expense)

Interest expense-net

(1)

(1)

(2)

(1)

Other income (expense)-net

(7)

153

(19)

826

Total other income (expense)

(8)

152

(21)

825

Loss before income taxes

(399)

(747)

(2,026)

(989)

Income tax provision (benefit)

52

(44)

169

(26)

Net loss

$         (451)

$         (703)

$      (2,195)

$         (963)

Basic and diluted net loss per share

$        (0.02)

$        (0.03)

$        (0.08)

$        (0.04)

Shares used in computing basic and

diluted net loss per share

28,024

27,707

27,981

27,105

TIGERLOGIC CORPORATION AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

Nine Months Ended December 31,

2010

2009

Cash flows from operating activities:

Net loss

$             (2,195)

$                (963)

Adjustments to reconcile net loss to net cash

used in operating activities:

Depreciation and amortization of long-lived assets

276

294

Provision for bad debt

3

12

Stock-based compensation expense

777

792

Change in deferred tax assets

169

(26)

Foreign currency exchange (gain) loss

17

(695)

Change in assets and liabilities:

Trade accounts receivable

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