Bad news from Astea

Astea International Inc., a provider of service lifecycle management solutions, today released its fourth quarter and year-end financial results for fiscal 2006. (Better late than never.)

For the quarter ended December 31, 2006, Astea reported revenues of $5.7 million, an increase of 8 percent over $5.3 million in revenues for the same period in 2005. Net loss for the quarter was $713,000, compared to a net loss of $701,000 for the same period in 2005. Software license fee revenues were $1.3 million, compared to $769,000 for the same period in 2005.

“While we are pleased with many of the operational achievements for 2006, we are very disappointed that we have not delivered a positive financial performance,” contritely stated Astea International chairman/CEO Zack Bergreen. “We will be working very hard this year to translate our best in class offering, our marquee customer base, and our pipeline opportunities into results of which we can all be proud.” Bergreen went on to note that the company had added sixteen new customers and made some “very strategic investments.”

Astea will host a conference call for investors that will be broadcast live tomorrow at 11am EST. Those interested but not Astea investors should check the Astea website for a replay to be made available “shortly after the call.”

Founded in 1979, Astea International is a global provider of service management software to companies in sectors including information technology, telecommunications, instruments and controls, business systems, HVAC, gaming/leisure, imaging, industrial equipment, and medical devices.