Interactive Intelligence Reports 'Record Revenues' of $33.2 Million for 3Q09
October 26, 2009
Contact center and corporate phone system solutions provider Interactive Intelligence today reported “record revenues” of $33.2 million for the third quarter of 2009, an increase of 10.4 percent over the $30.1 million it reported the third quarter of 2008.
Interactive Intelligence founder, chairman and CEO, Dr. Donald E. Brown attributed the quarter-over-quarter growth to increased product and services revenue combined with continued expense management.
“During the quarter, we continued to compete well at the mid and upper ends of the market, having received two orders exceeding $1 million and an additional eight orders greater than $250,000,” Brown said in a release
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For the third quarter ended Sept. 30, the company reported operating income on a generally accepted accounting principles (GAAP) basis of $4.3 million, up from $1.6 million in the third quarter of 2008. It reported non GAAP operating income of $5.3 million, compared to $2 million in the same period last year. In addition it reported gross margins of 71.4 percent, compared to 67.5 percent in the third quarter of 2008.
What’s more, Interactive Intelligence reported cash and investment balances at quarter-end of $60 million -- up from $54 million as of June 30, 2009.
“Another bright spot in the quarter was the strong growth in our communications-as a-service offering, where we contracted for what is expected to be at least $3.6 million in future revenues over the term of the contracts,” Brown added. “While the new orders did not result in revenue in the third quarter, they demonstrate the viability and competitiveness of our CaaS offering and the increased consideration this deployment model is receiving in the marketplace.”
Total revenues for the fiscal year, to date, are $95.5 million, a 6 percent increase over revenues of $90.1 million for the first nine months of 2008. The company reported GAAP operating income of $9.7 million, up from $4.2 million in the first nine months of 2008—and non-GAAP operating income of $12.2 million, compared to $6.5 million in the first nine months of 2008.
During an investor’s call held Monday, Brown outlined numerous milestones which the company achieved during the third quarter, including making Fortune Small Business magazine’s “America's 100 Fastest Growing Small Public Companies” list; making Software Magazine’s “Top 500 Software and Service Providers
” list; winning a “Unified Communications Innovation Award
” from TMC Labs for the company’s new communications-based process automation product, Interaction Process Automation
, due for release later this year; and winning a Frost & Sullivan “Innovation Award” for its new business process automation offering as well.
In addition, Interactive Intelligence announced a major reseller agreement
with national partner, Spanlink; named former JBA International CEO, Richard G. Halperin
to the company board of directors; and released Interaction Conference 3.0
, offering additional audio conferencing features.
Edited by Patrick Barnard