Goodbye California - Hello Texas
Daegis Inc., the Roseville-based electronic discovery and information-management firm, said in its quarterly financial report that it will relocate its headquarters to Dallas, Texas.
Tim Bacci, CEO of Daegis, said in the report: "As we evaluate the business and optimize our cost structure to accelerate on strategies where we see the most opportunity, we have decided to open an office in Dallas, Texas, and relocate the company's headquarters there.
"Texas is a strong territory for our businesses, and we view this move as an opportunity to increase the company's operational efficiencies and access an additional talent pool, as needed."
reports the Sacramento Bee.
In January this year, Daegis announced that Todd Wille would step down as company president, CEO and board member "to pursue new leadership opportunities."
Today, the company said it amassed a profit of $188,000, a penny a share, for its fourth quarter ended April 30.
That was a sharp turnaround from a loss of $15.7 million, $1.08 a share, in the year-ago period.
For its full year, the company reported net income of $532,000, a penny a share, compared with a loss of $16.7 million, $1.16 a share, the prior year.
Annual revenue in the most recent year totaled $40.2 million, down 7.5 percent from the previous year.
Electronic discovery generally refers to discovery in civil litigation in connection with exchanging information in an electronic format.