Interactive Intelligence Reports Record Revenues for the Second
Quarter Product revenues grow 18 percent year-over-year; sixth
consecutive profitable quarter INDIANAPOLIS, July 26
/PRNewswire-FirstCall/ -- Interactive Intelligence Inc.
(NASDAQ:ININ), a global developer of business communications
software, today reported record revenues of $15.6 million for the
second quarter ended June 30, 2005. This is an increase of more
than 14 percent based on revenues of $13.6 million reported for the
second quarter of 2004. (Logo:
http://www.newscom.com/cgi-bin/prnh/19990914/IILOGO ) Product
revenues for the second quarter of 2005 were $8.6 million, an
increase of over 18 percent based on product revenues of $7.3
million recognized in the second quarter of 2004. Product costs
increased from the prior year, with the increase being associated
with the IP telephony solution sold by the company's wholly-owned
subsidiary, Vonexus. Sales and marketing expenses increased from
the prior year, also as a result of Vonexus activities. Operating
income in the second quarter of 2005 increased to $418,000,
compared to $300,000 in 2004. The company recognized non-operating
other expenses of $136,000 in the second quarter of 2005 compared
to non-operating other income of $25,000 in the second quarter of
2004. The non-operating expenses in 2005 related to foreign
currency translation and foreign tax withholdings. These amounts
were reclassified from sales and marketing, and general and
administrative expenses for prior periods. Net income for the
second quarter of 2005 was $290,000, or $0.02 per share, compared
to net income of $304,000, or $0.02 per share in the comparable
quarter of 2004. For the first six months of 2005, revenues totaled
$30.2 million, an increase of over 10 percent, compared to $27.3
million in 2004. Net income per share was $0.02 for the first six
months of 2005, compared to $0.03 in 2004. "We had a very good
quarter with solid contribution from our traditional contact center
market, increasing revenues from our Vonexus subsidiary, and record
sales from our unified messaging and communications product,
Communite(TM)," said Interactive Intelligence president and chief
executive officer, Dr. Donald E. Brown. "Geographically, sales
contributions from our North American and EMEA regions were
particularly strong, adding new customers, as well as a significant
number of follow-on contracts from current customers. Our
enterprise IP telephony offering, which is marketed by Vonexus,
continued to grow by a strong double-digit percentage during the
quarter compared to the previous quarter." Customers signing
contracts in the second quarter included Amway Moscow, Bell Sell
Telephone Marketing, Channel Life, Delta Dental Plan of Michigan,
Education Sales Management (ESM), Heartland Payment Systems, Herff
Jones, Iowa Telecom, ITV Direct, Market Reach (Netherlands),
Nordia, Shinsei Bank, University of California, Berkeley, and West
Business Services. Other highlights in the second quarter included
an announcement of upgrades to the company's intelligent multi-site
routing software, Interaction Director(R), ideal for high
call-volume, distributed organizations and outsourced teleservices
firms. During the quarter the company also released an enhanced
version of its award-winning contact center automation suite,
Customer Interaction Center(R) (CIC), adding a new zero-effort
deployment .NET client, as well as new product integrations for
Microsoft Outlook, Microsoft Great Plains, and Microsoft CRM. The
new release also included enhanced Web self-service and e-mail
response management capabilities -- two areas of the market that
continue to have significant upside potential. For additional
details about the latest CIC enhancements, visit
http://www.inin.com/News/PressReleases/pressreleases.asp?id=459. In
recognition of the company's continued revenue growth, Interactive
Intelligence was named by Network World magazine among the top 200
domestic public network companies for 2004. This was the second
consecutive year Interactive Intelligence has been included in the
Network World 200. Interactive Intelligence will host an earnings
conference call today at 4:30 p.m. Eastern time (EDT), featuring
Dr. Brown and the company's chief financial officer, Stephen R.
Head. There will be a live Q&A session following opening
remarks. The teleconference is expected to last approximately 45
minutes. To access the teleconference, please dial 1-800-621-5170
at least five minutes prior to the start of the call. Ask for the
teleconference by the following name: "Interactive Intelligence
second quarter earnings call." The teleconference will also be
broadcast live on the company's investor relations' page at
http://www.inin.com/investors . An archive of the teleconference
will be posted following the call. To receive a copy of the
earnings release, please call 317.872.3000 and press "4" for
investor relations, or e-mail . About Interactive Intelligence
Interactive Intelligence Inc. (NASDAQ:ININ) is a global developer
of business communications software for IP telephony, contact
center automation, unified communications, and customer
self-service. The company was founded in 1994 and has more than
1,500 customers worldwide. Recent awards include Software
Magazine's 2004 Top 500 Global Software and Services Companies, the
2004 Network World 200, and Frost & Sullivan's 2004 Product
Innovation Award. Interactive Intelligence employs approximately
350 people and is headquartered in Indianapolis. The company has 12
offices throughout North America, Europe and Asia Pacific.
Interactive Intelligence can be reached at +1 317.872.3000 or ; on
the Web: http://www.inin.com/ . This release contains certain
forward-looking statements that involve a number of risks and
uncertainties. Among the factors that could cause actual results to
differ materially are the following: rapid technological changes in
the industry; volatility in the market price of the company's
common stock; the company's ability to achieve profitability, to
manage successfully its growth and increasingly complex third party
relationships, to maintain successful relationships with its
current and any new resellers, to maintain and improve its current
products and to develop new products and to protect its proprietary
rights adequately; and other factors described in the company's SEC
filings, including the company's latest annual report on Form 10-K
and its quarterly reports on Form 10-Q. Interactive Intelligence
Inc. is the owner of the marks INTERACTIVE INTELLIGENCE, its
associated LOGO and numerous other marks. All other trademarks
mentioned in this document are the property of their respective
owners. Contacts: Stephen R. Head Chief Financial Officer
Interactive Intelligence Inc. +1 317.715.8412 Christine Holley
Director, Market Communications Interactive Intelligence Inc. +1
317.715.8220 Interactive Intelligence, Inc. Consolidated Balance
Sheets (in thousands) June 30, December 31, 2005 2004 (unaudited)
Assets Current assets: Cash and cash equivalents $13,639 $14,603
Accounts receivable, net 13,210 10,251 Prepaid expenses 2,130 2,119
Other current assets 689 836 Total current assets 29,668 27,809
Property and equipment, net 4,155 4,071 Other assets, net 654 618
Total assets $34,477 $32,498 Liabilities and Shareholders' Equity
Current liabilities: Line of credit $3,000 $3,000 Accounts payable
and accrued liabilities 4,956 5,894 Accrued compensation and
related expenses 1,390 1,200 Deferred product revenues 4,477 4,484
Deferred services revenues 14,916 12,884 Total current liabilities
28,739 27,462 Shareholders' equity: Preferred stock - - Common
stock 160 159 Additional paid-in-capital 65,565 65,179 Accumulated
deficit (59,987) (60,302) Total shareholders' equity 5,738 5,036
Total liabilities and shareholders' equity $34,477 $32,498
Interactive Intelligence, Inc. Consolidated Statements of
Operations (in thousands, except per share amounts) Three months
ended Six months ended June 30, June 30, 2005 2004 2005 2004
(unaudited) (unaudited) Revenues: Product $8,596 $7,261 $16,482
$14,356 Services 7,026 6,380 13,733 12,991 Total revenues 15,622
13,641 30,215 27,347 Cost of revenues: Product 1,108 404 1,874 999
Services 2,703 2,771 5,410 5,524 Total cost of revenues 3,811 3,175
7,284 6,523 Gross profit 11,811 10,466 22,931 20,824 Operating
expenses: Sales and marketing 6,146 5,047 12,000 10,064 Research
and development 3,212 3,258 6,407 6,536 General and administrative
2,035 1,776 4,056 3,705 Restructuring and other charges - 85 - 101
Total operating expenses 11,393 10,166 22,463 20,406 Operating
income 418 300 468 418 Other income (expense): Interest income, net
62 25 113 32 Other income (expense) (136) 25 (182) 72 Total other
income (expense) (74) 50 (69) 104 Income before income taxes 344
350 399 522 Income taxes 54 46 84 98 Net income $290 $304 $315 $424
Net income per share: Basic $0.02 $0.02 $0.02 $0.03 Diluted $0.02
$0.02 $0.02 $0.03 Shares used to compute net income per share:
Basic 16,015 15,845 15,986 15,826 Diluted 16,685 16,735 16,608
16,716 NOTE TO EDITORS: Communite is spelled with an accent acute
mark over the 'e'. Due to limitations of wire transmission, this
mark has been omitted.
http://www.newscom.com/cgi-bin/prnh/19990914/IILOGO
http://photoarchive.ap.org/ DATASOURCE: Interactive Intelligence
Inc. CONTACT: Stephen R. Head, Chief Financial Officer,
+1-317-715-8412, , or Christine Holley, Director, Market
Communications, +1-317-715-8220, , both of Interactive Intelligence
Inc. Web site: http://www.inin.com/
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