AXS-One Results

AXS-One Inc. (BULLETIN BOARD: AXSO) , a provider of Records Compliance Management (RCM) software, today announced its financial results for the second quarter and six month period ended June 30, 2008.

Total revenues for the second quarter of 2008 were $3.4 million, an increase of $0.9 million or 35% from the second quarter 2007 revenues of $2.5 million. License revenue for the second quarter was $1.1 million, an increase of 109% compared to $0.5 million in the second quarter of 2007. Service revenue for the second quarter was $2.3 million, an increase of $0.3 million or 16% from the second quarter of 2007. Total operating expenses for the second quarter were $5.5 million, a decrease of 10% percent compared to $6.1 million in the second quarter of 2007. The operating loss for the second quarter of 2008 was $2.1 million, a $1.4 million or 41% improvement from the second quarter 2007 operating loss of $3.6 million. The Company reported a net loss of $2.5 million for the second quarter of 2008, or $(0.07) per diluted share compared to a net loss of $3.7 million in the second quarter of last year, or $(0.10) per diluted share.