• Q3 Earnings of $0.06 per share excluding one-time items*, exceeding pre-announcement
• Q3 EBITDA of $462,000, excluding one-time items*, exceeding pre-announcement
• Cash and Equivalents, excluding acquisition funding, grew $700,000 sequentially.
• Raising Fourth quarter EBITDA guidance range to $540,000 to 630,000 excluding one-time items*

AUSTIN, Texas, Nov. 8, 2011 (GLOBE NEWSWIRE) -- Asure Software, Inc. (Nasdaq:ASUR), a leading provider of workforce management software, announced results for the third quarter ended September 30, 2011.

Third quarter results, excluding one-time items related to Asure's acquisition of ADI Time, included earnings of $0.06 per share and EBITDA of $462,000. GAAP Net Income per share was $0.01. One-time items contributed ($0.05) per share, and consisted of acquisition related legal and professional services, travel and other one-time expenses. Third quarter revenue was $2.5 million, a 3% increase over the prior quarter. The revenue increase of $70,000 was largely driven by an increase in recurring revenue, of which the majority was related to growth in our Cloud-based revenue stream. Asure's recurring revenue as a percentage of overall revenue was flat at 80% quarter over quarter and up 8% versus the comparable period in 2010; from 72% to 80%. Hardware revenue increased by 94% compared to the last quarter, driving gross margin down one percentage point to 81% this quarter.

"We had a solid quarter as the business continues to perform well and grow. We're extremely excited about the opportunities the ADI acquisition brings us," commented Pat Goepel, CEO of Asure Software. "First, ADI's customer base extends our ability to serve organizations with unique industry-specific needs, and with ADI's expertise we can expand our reach and our capabilities.  Second, we are excited to introduce our new hardware technology to current and prospective clients.  Lastly, we've already seen synergies within the combined organizations that allow us to streamline operations, reduce operating costs and gain significant efficiencies.  I'm very optimistic about our team and what we have accomplished as we continue to execute our growth strategy."

David Scoglio, Asure's Chief Financial Officer, added, "Asure posted a strong quarter financially, as EBITDA and earnings exceeded our estimates and cash continued to grow.  Deferred revenue grew 13% over the last quarter, and 36% over the comparable period in 2010, and cash continued to grow faster than earnings, giving us confidence in our ability to meet all lending commitments related to the ADI acquisition.  While Netsimplicity's cloud-based bookings were down sequentially, they were up against a difficult comparison and we are confident that we can return to double digit performance in the fourth quarter.  iEmployee's cloud-based bookings showed improvement at 24% growth sequentially.

David Scoglio continued," For Q4, we expect GAAP net earnings per share to be positive and drive full year results to overall profitability.  One-time costs related to acquisition and integration are expected to roughly equal those of Q3.  Due to the ADI acquisition and continued organic performance, we are increasing our EBITDA guidance range to $540,000 to $630,000, excluding the aforementioned one-time costs.  An updated table of public guidance is offered below."

Conference Call Details

Asure will follow this announcement with a conference call for the investment community on Tuesday, November 8, 2011, at 11:00 am EST, (10 a.m. CST) to further discuss the quarter and outlook.  Participating in the call will be Pat Goepel, Chief Executive Officer and David Scoglio, Chief Financial Officer.  To participate, dial (877) 853-5636 ten minutes before the call begins. International callers should dial (631) 291-4544.  The pass code for all callers is 21226915.

Investors, analysts, media and the general public will also have the opportunity to listen to the conference call in listen-only mode via the Internet by visiting the investor relations page of Asure's web site at www.asuresoftware.com. To monitor the live call, please visit the web site at least 10 minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, an archived replay will be available shortly after the call at http://investor.asuresoftware.com/.

About Asure

Asure Software, Inc. (Nasdaq: ASUR), headquartered in Austin, Texas.  Asure Software's intuitive and innovative technologies enable companies of all sizes and complexities to operate more efficiently.  Simply put, we turbo-charge your workplace by stimulating your workforce and maximizing your company's resources while eliminating waste out of employee's work-flow.

Asure Software's number one priority is to delight our clients and support their change initiatives.  We ensure a high-performing work environment by integrating our "keep it simple" solutions and expertise to over 3,500 plus clients world-wide; Asure Software's suite of solutions range from time and attendance workforce management solutions to asset optimization and meeting room management.  For more information, please visit www.asuresoftware.com.

The Asure Software, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8565

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

Statements in this press release regarding Asure's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such risks and uncertainties could cause actual results to differ from those contained in the forward-looking statements.

*Non-GAAP Financial Measures

This press release includes the following financial measures defined as a non-GAAP financial measure by the Securities and Exchange Commission: EBITDA and GAAP Net Income/(Loss) excluding one-time items. These supplemental financial measures are not required by GAAP, nor are the presentation of this financial information intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management recognizes that non-GAAP financial measures have limitations in that they do not reflect all of the items associated with Asure's earnings results as determined in accordance with GAAP. However, for the reasons described below, management uses these non-GAAP measures to evaluate the performance of Asure's business. Asure's management believes that it is important to provide investors with these same tools, together with reconciliation to GAAP, for evaluating the performance of Asure's business, as it may provide additional insight into Asure's financial results. See the "Reconciliation of GAAP Net Income/(Loss) to Earnings Before Interest, Taxes, Depreciation, Amortization and Stock Compensation Expense (EBITDA)" and the "Reconciliation of GAAP Net Income/(Loss) to Net Earnings Excluding One-Time Items" tables included in this press release for further information regarding these non-GAAP financial measures. In addition, these measures are presented because management believes they are  frequently used by securities analysts, investors and others in the evaluation of companies.

EBITDA is calculated by adding income taxes, interest expense, depreciation and amortization and stock compensation expense to net earnings, EBITDA is not defined under GAAP and should not be considered in isolation or as a substitute for net earnings and other consolidated earnings data prepared in accordance with GAAP or as a measure of Asure's profitability.

Net Earnings Excluding One-Time Items is calculated by combining the company's GAAP Net Earnings, or earnings per share, with items that are one time in nature and are not expected to recur on a dollar or per share basis.

CONTACT:  David Scoglio

          512-437-2732