WOBURN, Mass, Oct. 22, 2010 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (Nasdaq:BLIN), a developer of award-winning web engagement management software and interactive technology solutions announced today that it has retained Genesis Select Corporation to enhance its institutional investor relations program.
Genesis Select will support Bridgeline's efforts to cultivate long-term relationships with the investment community of portfolio managers and analysts by helping Wall Street gain a broader understanding of the Company's growth prospects and true fair market value.
"Genesis Select's has an excellent reputation of improving awareness in the investment community. We feel Bridgeline's market-cap is very undervalued and the time is right for Bridgeline to proactively share its exciting story," stated Thomas Massie, Bridgeline Digital Chairman and Chief Executive Officer.
"We are excited to work with the management of Bridgeline Digital and close their valuation disparity," said Budd Zuckerman, President of Genesis Select. "The Company has a great product suite that is rapidly growing its monthly recurring revenue base consisting of software subscriptions, managed services, and maintenance fees. Bridgeline is in the process of migrating over 600 brand name customers to a SaaS platform. The Company is growing both organically and by acquisition of regional boutiques where tremendous operating leverage exists. The Company has a solid balance sheet, and trades at a substantial discount to its peers with an Enterprise Value/ EBITDA of barely 5 times," continued Zuckerman.
About Genesis Select
Genesis Select Corporation () is an independent investment advisory and financial communications firm that specializes in micro through mid-capital public companies. The firm's senior professionals integrate knowledge and expertise gained over 50 years at prominent Wall Street firms. Genesis Select works closely with clients to maximize shareholder value through strategic institutional investor relations and financial communications programs.
About Bridgeline Digital
Bridgeline Digital is a developer of an award-winning web engagement management platform and award-winning interactive business technology solutions that help customers leverage best in class web-based technologies to achieve their business objectives. The iAPPS Product Suite is an innovative SaaS solution that unifies Content Management, e-Commerce, e-Marketing, and Analytics capabilities into the heart of websites, online stores, intranets, extranets, and portals - enabling business users to swiftly enhance and optimize the value of their web properties. The iAPPS Product Suite has been recognized by KMWorld Magazine as a Trend Setting Product of 2010. iAPPS Content Manager is the 2010 CODiE Award Winner for Best Content Management Solution, globally.
Combined with award-winning interactive technology development services by Microsoft Gold-Certified development teams, Bridgeline Digital helps customers to cost-effectively maximize the value of their rapidly changing web applications. Bridgeline's teams of developers specialize in web application development, e-commerce development, usability engineering, SharePoint development, rich media development, and search engine optimization.
Bridgeline Digital is headquartered near Boston, with additional locations in Atlanta, Baltimore, Chicago, Denver, New York, Philadelphia, Washington, D.C., and Bangalore, India. Bridgeline Digital has hundreds of customers ranging from middle market organizations to divisions within Fortune 1,000 companies that include: Sun Chemical, Honeywell, Healthcore, LG Electronics, Marriott International, Berkshire Life, PODS, Budget Rental Car, Washington Redskins, AARP, National Financial Partners, The Packard Foundation, DTCC, Cadaret, Grant & Co., National Insurance Crime Bureau, and the American Academy of Pediatrics. To learn more about Bridgeline, please visit www.bridgelinedigital.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions including the risks described in our filings with the Securities and Exchange Commission that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. We expressly disclaim any obligation to update any forward-looking statement.
CONTACT: Genesis Select, LLC Budd Zuckerman, President 303-415-0200 bzuckerman@genesisselect.com Bridgeline Digital, Inc. Ronald Levenson, Executive Vice President & CFO 781-497-3015 rlevenson@blinedigital.com