Interactive Intelligence (Nasdaq: ININ), a global provider of
unified IP business communications solutions, has announced
preliminary results for its fourth quarter and fiscal year ended
Dec. 31, 2010.
For the fourth quarter of 2010, the company expects to report
total revenues of between $49.0 million and $51.0 million, compared
to $35.9 million in the same quarter last year. Results for the
fourth quarter of 2010 include revenues of $1.4 million for the
Latitude Software subsidiary, which was acquired in October.
For the fourth quarter of 2010, GAAP net income is expected to
be between $4.5 million and $5.3 million, with diluted earnings per
share (EPS) of $0.23 to $0.27. Net income on a non-GAAP* basis is
expected to be between $9.3 million and $10.1 million, with EPS of
$0.48 to $0.52.
For the fourth quarter of 2009, the company reported GAAP net
income and EPS of $2.5 million and $0.14, respectively, and
non-GAAP net income and EPS of $5.1 million and $0.27,
respectively.
Preliminary 2010 fourth quarter non-GAAP net income and EPS
exclude the following: (i) stock-based compensation expense of
approximately $1.0 million, or EPS of $0.05; (ii) purchase-related
adjustments to revenue and amortization of intangibles of
approximately $400,000, or $0.02 per share; and (iii) non-cash
income tax expense of approximately $3.1 million to $3.5 million,
or EPS of $0.16 to $0.18.
The 2009 fourth quarter non-GAAP net income and EPS exclude
stock-based compensation expense of $775,000, or EPS of $0.04, and
non-cash income tax expense of $1.8 million, or EPS of $0.09.
"The fourth quarter has traditionally been our strongest quarter
each year,” said Interactive Intelligence founder and CEO, Dr.
Donald E. Brown. “That was true for 2010 as well. A number of
significant product orders resulted in an outstanding performance
for the quarter, including five orders over $1 million and another
25 orders over $250,000.”
Revenues for the year ended Dec. 31, 2010 are expected to be
between $164.7 million and $166.7 million, compared to $131.4
million for the 2009 fiscal year.
For 2010, net income on a GAAP basis is expected to be between
$12.3 million and $13.1 million, with EPS of $0.65 to $0.69. For
2010, net income on a non-GAAP basis is expected to be between
$25.3 million and $26.1 million, with EPS from $1.34 to $1.38.
For 2009, the company reported GAAP net income and EPS of $8.6
million and $0.47, respectively, and non-GAAP net income and EPS of
$18.0 million and $0.99, respectively.
Preliminary 2010 non-GAAP net income and EPS exclude the
following: (i) stock-based compensation expense of approximately
$4.0 million, or EPS of $0.21; (ii) purchase-related adjustments to
revenue and amortization of intangibles of approximately $500,000,
or $0.03 per share; and (iii) non-cash income tax expense of
approximately $7.9 million to $8.3 million, or EPS of $0.42 to
$0.44.
The 2009 non-GAAP net income and EPS exclude stock-based
compensation expense of $3.3 million, or EPS of $0.18, and non-cash
income tax expense of $6.0 million, or EPS of $0.34.
Cash and investments as of Dec. 31, 2010 are expected to exceed
$86 million. During the fourth quarter of 2010, stock option
proceeds generated $4.5 million of cash, operations generated more
than $10 million of cash, and the company used $15.3 million in the
quarter to acquire Latitude Software.
“Based on these preliminary results, our current outlook for
2011 includes annual revenue of at least $200 million, which is
growth of more than 20 percent from 2010,” Dr. Brown said. “We will
continue to invest in our cloud-based infrastructure, research and
development, and sales and marketing, in order to further
capitalize on the momentum that we have built. We currently
anticipate non-GAAP operating earnings, which exclude stock option
expense and purchase accounting adjustments, of approximately 14
percent of revenues."
The company has not completed preparation of its audited
financial statements for the year ended Dec. 31, 2010. These
preliminary results may be subject to adjustments and could change
materially.
Interactive Intelligence plans to issue its final 2010 fourth
quarter and year-end fiscal results Jan. 28 at 7 a.m. Eastern
Standard Time. It will host a conference call Jan. 28 at 8:30 a.m.
EST featuring Dr. Brown and the company's CFO, Stephen R. Head. A
live Q&A session will follow opening remarks.
To access the teleconference, please dial 1.877.324.1969 at
least five minutes prior to the start of the call. Ask for the
teleconference by the following name: "Interactive Intelligence
fourth quarter earnings call."
The teleconference will also be broadcast live on the company's
investor relations' page at http://investors.inin.com. An archive
of the teleconference will be posted following the call.
About Interactive Intelligence
Interactive Intelligence Inc. (Nasdaq: ININ) is a global
provider of unified business communications solutions for contact
center automation, enterprise IP telephony, and business process
automation. The company was founded in 1994 and has more than 3,500
customers worldwide. Interactive Intelligence is among Software
Magazine’s 2010 Top 500 Global Software and Services Suppliers, and
Forbes Magazine’s 2010 Best Small Companies in America. The company
is also positioned in the leaders’ quadrant of the Gartner Magic
Quadrant for Contact Center Infrastructure, Worldwide report (Feb.
22, 2010). Interactive Intelligence employs approximately 800
people and is headquartered in Indianapolis, Indiana. It has 16
offices throughout North America, Latin America, Europe, Middle
East, Africa and Asia Pacific. Interactive Intelligence can be
reached at +1 317.872.3000 or info@inin.com; on the Net:
www.inin.com.
* Non-GAAP Measures
The non-GAAP measures shown in this release include revenue
which was not recognized on a GAAP basis due to purchase accounting
adjustments and exclude non-cash stock-based compensation expense
for stock options, the amortization of certain intangible assets
related to acquisitions by the company and non-cash income tax
expense. These measures are not in accordance with, or an
alternative for, GAAP and may be different from non-GAAP measures
used by other companies. Stock-based compensation expense and
amortization of intangibles related to acquisitions are non-cash
and income tax expense is primarily non-cash. Management believes
that the presentation of non-GAAP results, when shown in
conjunction with corresponding GAAP measures, provides useful
information to management and investors regarding financial and
business trends related to the company’s results of operations.
Further, management believes that these non-GAAP measures improve
management’s and investors’ ability to compare the company’s
financial performance with other companies in the technology
industry. Because stock-based compensation expense, non-cash income
tax expense amounts and amortization of intangibles related to
acquisitions can vary significantly between companies, it is useful
to compare results excluding these amounts. Management also uses
financial statements that exclude stock-based compensation expense
related to stock options, non-cash income tax amounts and
amortization of intangibles related to acquisitions for its
internal budgets.
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; the company's ability
to maintain profitability; to manage successfully its growth; to
manage successfully its increasingly complex third-party
relationships resulting from the software and hardware components
being licensed or sold with its solutions; to maintain successful
relationships with certain suppliers which may be impacted by the
competition in the technology industry; to maintain successful
relationships with its current and any new partners; to maintain
and improve its current products; to develop new products; to
protect its proprietary rights adequately; to successfully
integrate acquired businesses; and other factors described in the
company's SEC filings, including the company's latest annual report
on Form 10-K.
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.
ININ-G
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