Astea International Inc. reported earnings results for the fourth quarter and year ended December 31, 2017. For the quarter ended December 31, 2017, the company reported revenues of $7.9 million compared to revenues of $9.1 million for the same period in 2016. Net income to shareholders for the quarter is just $0.7 million or $0.19 per share compared to net income to shareholders of $1.9 million or $0.52 per share for the same period in 2016.

For the year ended December 31, 2017, the company reported revenues of $26.3 million compared to revenues of $25.8 million for the same period in 2016. The net loss available to shareholders was $0.4 million or $0.11 per share compared to a net loss to shareholders of $90,000 or $0.03 per share for the same period in 2016. Adjusted EBITDA was $1 million for the year ended December 31, 2017, compared to a negative $2.2 million for 2016, an increase of $3.2 million. The significant improvement is the result of signing many new hosted customers in 2017, who are still in the implementation process and therefore, not contributing any revenue until they go live.

The company expect continued growth in expansion of existing customers. And other than the timing of when customers go live, and the company can report the revenue, and now, going forward, under the new accounting announcement, the related expenses, the company probably will have loss -- losses in the early part of the year. But the company expects, once the customers go live, that the company will be profitable by the end of the year 2018.