Rally Software Correction to Press Release Announcing its Second Quarter Fiscal 2014 Financial Results (Correction Notice)

BOULDER, Colo., Sept. 5, 2013 /PRNewswire/ -- Rally® (NYSE: RALY), a leading global provider of cloud-based solutions for managing Agile software development, today announced a correction to its press release issued on September 5, 2013, titled "Rally Software Announces Second Quarter Fiscal 2014 Financial Results."

In the press release, the numbers provided in the Business Outlook section for total revenue for Third Quarter of Fiscal 2014 were misstated. The correct statement follows:

• Total revenue in the range of $18.25 to $18.6 million, or 24% to 27% growth over the prior year's third quarter.

About Rally

Rally Software is a leading global provider of cloud-based solutions for managing Agile software development. The Rally Agile application lifecycle management (ALM) platform transforms the way organizations manage the software development lifecycle by closely aligning software development and strategic business objectives, facilitating collaboration, increasing transparency and automating manual processes. Companies use Rally to accelerate the pace of innovation, improve productivity and more effectively adapt to rapidly changing customer needs and competitive dynamics.

Rally and the Rally logo are the property of Rally. Trade names, trademarks and service marks of other companies are the property of their respective holders.

Forward-looking Statements

This press release contains forward-looking statements, including statements regarding Rally's future financial performance, market growth, the demand for Rally's solutions, and general business conditions. Any forward-looking statements contained in this press release are based upon Rally's historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Rally's expectations as of the date of this press release. Subsequent events may cause these expectations to change, and Rally disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from Rally's current expectations. Important factors that could cause actual results to differ materially from those anticipated in such forward-looking statements include, but are not limited to, the growth of demand for Agile software development, Rally's ability to expand its relationships with existing customers, Rally's ability to attract and retain customers, the mix of perpetual license and subscription revenue, competitive factors, including but not limited to pricing pressures, industry consolidation, and entry of new competitors and new products, Rally's ability to manage growth effectively, Rally's ability to maintain, protect and enhance its brand and intellectual property, general economic and financial conditions, and other risks and uncertainties. Further information on risk factors that could cause actual results to differ materially from forecasted results is included in Rally's reports filed with the SEC, including its prospectus dated July 24, 2013 and filed with the SEC on July 25, 2013 and our Form 10-Q that will be filed for the second quarter ended July 31, 2013.  

SOURCE Rally Software