Rally posts 2Q loss while setting revenue record

BOULDER – Rally Software Development Corp. (NYSE: RALY) posted record revenue but still incurred a loss for the second quarter of its fiscal year 2015 that ended July 31.

The Boulder-based software developer recorded revenue of $21.5 million, a 9 percent increase compared with the same period a year ago. It reported a loss of $8.9 million, or 36 cents per share, compared with a loss of $2.3 million, or 9 cents per share, for the same period a year ago.

“Our second quarter saw record revenue and we outperformed against our revised outlook,” Rally’s chairman and chief executive Tim Miller said in a prepared statement.

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On an earnings conference call with investors, Miller said, “We still have a lot to do before I’m comfortable with the state of the business, but these results indicate to us that our hard work has returned positive results, and if we stay focused and execute our future is very bright.

Rally picked up new customers during the quarter that included Appointment-Plus, Axium, Cathay Pacific Airways Limited, Compass Learning, Digital Barriers, EBSCO Publishing, Engine Yard, Invesco, Highmark, Nexenta, PayWizard, QSR International, Rise Interactive, RMIT University and Verizon.