Preliminary Third Quarter Results Shows Revenue Growth for Interactive Intelligence
Global provider of unified IP business communications solutions, Interactive Intelligence, has announced the preliminary results of its third quarter ended Sept. 30, 2010. Results demonstrate the company is leveraging current opportunities in the market and growing its revenue share.
Total revenues are expected to be between $41.0 million and $42.0 million, with net income on a GAAP basis of between $3.3 million and $3.8 million. Diluted earnings per share (EPS) on a GAAP basis are expected to be $0.18 to $0.20.
Interactive Intelligence (News - Alert) expects net income on a non-GAAP basis to be between $6.5 million and $7.3 million, with EPS of $0.35 to $0.39. Non-GAAP net income and EPS exclude stock-based compensation expense of approximately $1.0 million, or EPS of $0.06, and non-cash income tax expense of approximately $2.1 million to $2.4 million, or EPS of $0.11 to $0.13.
“We’re achieving better operating leverage from revenue growth driven by an increasing number of large transactions,” said Interactive Intelligence founder and CEO, Dr. Donald E. Brown, in a statement. “We continue to execute on our strategy of moving up market, with nine orders over $1 million, including two of about $2 million each, and an additional 16 orders greater than $250,000 in the quarter.”
For the sake of comparison, in the third quarter of 2009, revenues were reported by the company at $33.2 million, with an EPS of $0.15 and a GAAP net of $2.8 million. Non-GAAP net income was $5.7 million, with EPS of $0.31.
The 2009 third-quarter non-GAAP net income and EPS excluded stock-based compensation expense of $975,000, or EPS of $0.05, and non-cash income tax expense of $1.9 million, or EPS of $0.11.
“This growth is coming from both new and current premise-based customers, and from continued strong demand for our cloud-based communications offering,” added Brown. “We currently anticipate annual revenue growth for 2010 of approximately 20 percent.”
The company anticipates that cash and investment balances as of Sept. 30, 2010 will be about $85.5 million.
Final results will be announced by Interactive Intelligence in a press release on Nov. 1, after 4 p.m. The company then plans to host a conference call Nov. 1 at 4:30 p.m. EDT, featuring Brown and CFO Stephen R. Head. A live Q&A session will follow opening remarks. Dial 877-324-1969 at least five minutes prior to the start of the call to participate.
Interactive Intelligence has gained attention as of late earning a distinction as the 16th out of 42 companies listed within the Indiana Chamber of Commerce's 'large companies' category. The company was also given the recognition of "best place to work,” for the fourth consecutive year.
Last week, the company announced the acquisition of Global Software Services, Inc., a company doing business as Latitude Software. The global provider of unified IP business communications solutions purchased 100 percent of Latitude’s stock.
Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.
Edited by Tammy Wolf