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July 1, 2014
12:45 EDTQUMUQumu closes sale of disc publishing assets
Qumu announced the closing of its previously announced all-cash sale of the Rimage disc publishing assets to Redwood Acquisition, a wholly-owned subsidiary of Equus. Redwood Acquisition is now known as Rimage. The completion of this transaction enables Qumu to focus effort and resources exclusively on the company’s video content management software business. The completion of this transaction provides Qumu with approximately $19M-$20M in net cash after closing costs, post-closing adjustments, taxes and the assumed return of the $2.3M, 15 month escrow.
News For QUMU From The Last 14 Days
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July 30, 2014
16:11 EDTQUMUQumu raises 2014 software revenue growth from 40%'50% to above 50%
Qumu's management continues to believe that software revenues will increase over the next few quarters year-over-year. The company continues to anticipate growth in its software revenues of at least 30% over 2013 revenues. The impact of the sale of the disc publishing business will be reported in Q3 results. The company expects to end Q3 with a cash and marketable securities balance of $50M-$53M.
16:09 EDTQUMUQumu reports Q2 EPS (39c), one estimate (39c)
Reports Q2 revenue $8.4M, may not compare to one estimate $19.60M.

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