- Total orders up 42 percent from 2013 first quarter.
- Cloud-based orders increased 165 percent to 59 percent of total orders.
-
Deferred and unbilled future cloud-based revenues up 56 percent
year-over-year.
South Africa- Interactive Intelligence Group Inc., a global provider of
software and services designed to improve the customer experience, has
announced financial results for the first quarter ended March 31, 2014.
“We continue to execute on our strategy of aggressively
capturing cloud communications market share,” said Interactive Intelligence
founder and CEO Dr. Donald Brown. “This success is essential to our goal of
becoming the leading vendor in the overall contact centre market.
“As we increasingly shift to a higher proportion of
cloud-based orders and have more revenue deferred to future quarters, our
reported short-term profitability is affected,” continued Brown. “But we look
beyond this and remain committed to making investments that drive the growth of
our business, particularly with our cloud-based offerings targeting the highest
growth segment of our market. As a result, we continue to expect cloud-based
orders to outpace our overall 2014 order growth and comprise 55 to 60 percent
of total orders for the year.”
First Quarter 2014 Financial Highlights:
-
Orders:
Total orders increased by 42 percent from the first quarter of 2013, with
cloud-based orders up 165 percent to 59 percent of total orders. The company
signed 34 orders over $250,000, which included nine orders over $1 million,
compared to 39 orders over $250,000, including eight orders over $1 million in
the same quarter last year. Average cloud-based orders from new customers
increased to $935,000, compared to $788,000 in the first quarter of 2013.
-
Revenues:
Total revenues were $79.4 million, up 8 percent from the 2013 first quarter.
Recurring revenues, including support fees from on-premises license agreements
and fees from cloud-based customers, increased 28 percent to $43.4 million and
accounted for 55 percent of total revenues. Cloud-based revenues increased 85
percent to $13.1 million. Product revenues were $22.8 million and services
revenues $13.2 million, compared to $28.0 million and $11.4 million,
respectively, in the first quarter of 2013.
-
Total
Deferred Revenues: Deferred revenues increased to $115.5 million, up from
$110.2 million as of March 31, 2013. In addition, the amount of unbilled future
cloud-based revenues increased to $205.5 million from $95.8 million at the end
of the 2013 first quarter. The combination of deferred and unbilled future
cloud-based revenues grew to $321.0 million, up 56 percent from $206.0 million
as of March 31, 2013.
-
Operating
Income (Loss): GAAP operating loss was $(4.8) million, compared to GAAP
operating income of $3.4 million in the same quarter last year. Non-GAAP*
operating loss was $(1.0) million, compared to non-GAAP operating income of
$6.2 million in the first quarter of 2013. The year-over-year decline was
primarily due to the increase in cloud-based orders, which jumped from 31 percent
of total orders in the first quarter of 2013, to 59 percent of total orders in
the first quarter of 2014, and are recognized over the life of the contract.
-
Income
Taxes: Income tax benefit for the first quarter was $2.2 million. The company’s
estimated annual effective tax rate is 43.5 percent.
-
Net
Income (Loss): GAAP net loss was $(2.6) million, or $(0.12) per diluted share
based on 20.7 million weighted average shares outstanding, compared to GAAP net
income for the same quarter in 2013 of $1.5 million, or $0.07 per diluted share
based on 20.7 million weighted average diluted shares outstanding. Net income
for the first quarter of 2013 included a $600,000 U.S. federal research and
development tax credit related to 2012.
Non-GAAP net loss for the first quarter was $(0.4) million, or $(0.02) per diluted share, compared to non-GAAP net income of $3.6 million, or $0.17 per diluted share, in the same quarter in 2013.
Non-GAAP net loss for the first quarter was $(0.4) million, or $(0.02) per diluted share, compared to non-GAAP net income of $3.6 million, or $0.17 per diluted share, in the same quarter in 2013.
-
Cash,
Cash Equivalents and Investments: Cash, cash equivalents and investments
totaled $104.9 million as of March 31, 2014, compared to $107.8 million at the
end of 2013.
-
Cash
Flows: The company generated $5.3 million in cash flow from operations in the
quarter and used $8.1 million for capital expenditures, which included continued
expansion of its cloud infrastructure.
* An explanation of GAAP to non-GAAP financial measures is
included below under the heading “Non-GAAP Measures.”
Additional First-Quarter 2014 and Recent Highlights:
-
Interactive
Intelligence announced that it has entered into a letter of intent to acquire
OrgSpan Inc., a privately held company that offers cloud-based enterprise
social communications solutions.
-
The
company unveiled its Global Alliance Program, which was designed to expand the
company’s ecosystem of solutions and relationships to increase partner
opportunities and benefits.
-
Interactive
Intelligence’s channel director was named a CRN 2014 Channel Chief based on
channel experience, program innovations, and channel-driven revenue.
-
The
company created three new C-level positions to further strengthen its
operations for improved global software and service delivery.
No comments:
Post a Comment