Saba Records Slight Revenue Dip

July 27, 2009 – Saba/(NASDAQ:SABA), a provider of human capital management (HCM) solutions, has posted revenues of $25.6 million for the fourth quarter ended May 31, 2009, compared to revenues of $28.2 million in the same period of the prior year. For the year ended May 31, 2009, revenue was $102.8 million, down slightly from revenues of $107.8 million in the prior year. On a GAAP basis, net loss for the fourth quarter was $1.1 million, or $0.04 per share, compared to a net loss of $310,000, or $0.01 per share, for the same period of the prior year. GAAP net loss for the year ended May 31, 2009 improved by $1.2 million to $2.4 million, or $0.08 per share, compared to a net loss of $3.5 million, or $0.12 per share, for the prior year. Fourth quarter and fiscal year 2009 GAAP net loss included non-cash tax charges related to a prior acquisition of $1.2 million and $1.4 million, respectively. “We are very pleased to report record annual non-GAAP earnings and cash generation while increasing deferred revenue and maintaining solid revenue results,” said Bobby Yazdani, Saba chairman and CEO. “During the fiscal year, we achieved several key milestones as we strengthened our overall business model. We successfully streamlined our business to better match to our profitability objectives, signed a record number of new OnDemand customers, grew our total recurring revenues year over year and extended our partner relationships with the addition of IBM's software group and Hewlett-Packard, as well as a number of regional alliance partners.”