Interactive Intelligence Beats Record with a 21 Percent Increase in Revenues
April 29, 2008
Interactive Intelligence (News - Alert), a global provider of unified IP business communications solutions, reported on Monday first quarter operating results for the period ended March 31, 2008, which included record revenues of $29.5 million; up 21 percent over revenues of $24.3 million in the same quarter last year.
Providing the world with unified business communications solutions for contact center automation, enterprise IP telephony, and enterprise messaging, Interactive Intelligence manages more than 3,000 customers worldwide. Founded in 1994, Interactive Intelligence is among the top 500 global software and services suppliers, and is ranked among the top 200 North American networking vendors.
According to Interactive Intelligence founder and CEO, Dr. Donald Brown (News - Alert), today’s unstable economy is the driving force behind the increase in businesses implementing Interactive Intelligence’s all-in-one contact center and enterprise IP telephony products and services. Companies are catching on that they need to lower price tags and hold on to customers.
“This demand was reflected in our first quarter record revenues and a 39 percent increase in orders compared to the same period last year. We also continued to close large transactions during the quarter, with 15 contracts exceeding $250,000, and a record nine of those representing new customers. With several upcoming products squarely focused on helping organizations further reduce costs and improve customer service, we feel very positive headed into the second quarter,” explains Dr. Brown.
Compared to $1.4 million in 2007, operating income for the first quarter of 2008 was $1.5 million. Revenues included non-cash, stock-based compensation expense of $932,000 in 2008, and $668,000 in 2007.
Net income for the company was $1.1 million for the first quarter of 2008, with reduced earnings per share (EPS) of $0.06. The company acknowledged full taxes on earnings during the first quarter of 2008, although most of the tax expense was non-cash. Net income was $1.8 million in the first quarter of 2007, with EPS of $0.09.
Non-GAAP (generally accepted accounting principles) operating income was $2.4 million for the first quarter of 2008, compared to $2.1 million in the first quarter of 2007. In 2008, Non-GAAP net income was $2.9 million, or EPS of $0.15, compared to 2007 non-GAAP net income of $2.4 million, or EPS of $0.13. The non-GAAP differences were a result of excluding the non-cash income tax expense in the first quarter of 2008, and stock-based compensation expense recorded in both years.
As of March 31, 2008, cash and short-term investments totaled $49.4 million, up from $46.3 million on December 31, 2007. Cash flow from operations for the first quarter of 2008 was $5.3 million, compared to $4.9 million in the same quarter last year.
Other achievements in the first quarter for Interactive Intelligence included a Best Large Enterprise Solution award and Product of the Year award, both from INTERNET TELEPHONY magazine.
Marking its third consecutive year of compliance, the company also received ISO 9001:2000 re-certification. Being certified to ISO 9001:2000 reassures Interactive Intelligence customers and partners that it is able to fully satisfy their meticulous requirements for quality, reliability, efficiency and cost-effectiveness.
Interactive Intelligence hired Bill Gildea as vice president of business development, as part of the company’s continuous growth strategy, to help evaluate acquisition and strategic partnering opportunities. In addition to its existing east and west regional headquarter offices, the company also opened a regional software development office in Denver to access a larger pool of job candidates.
Michelle Robart is a Contributing Editor at TMCnet. To read more of her articles please visit her columnist page.