1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution

Interactive Intelligence Reports 2010 Fourth-Quarter and Full Year Results

Company reports quarterly revenue growth of 41 percent; record annual revenues

 
 
Donald Brown
Donald Brown
PRLog - Feb. 2, 2011 - DUBAI, United Arab Emirates – Interactive Intelligence (Nasdaq: ININ), a global provider of unified IP business communications solutions, has announced results for its fourth quarter and full year ended Dec. 31, 2010.

The company reported 2010 fourth-quarter revenues of $50.7 million, an increase of 41 percent from $35.9 million in the fourth quarter of 2009. Revenues for 2010 were $166.3 million, an increase of 27 percent from $131.4 million in 2009.

The financial results noted in this release and the accompanying financial statements, reflect a change in the company’s presentation of its revenues, with three revenue lines presented: product revenues; recurring revenues, which include support and cloud-based revenues; and services revenues, which include professional services and education.

Fourth-quarter 2010 financial results compared to fourth quarter 2009 results include:
-   Product revenues of $25.0 million, up 38 percent from $18.1 million.
-   Recurring revenues of $19.9 million, up 34 percent from $14.8 million.
-   Services revenues of $5.7 million, up 91 percent from $3.0 million.
-   Gross profit margin of 69.1 percent versus 69.9 percent.

Full-year 2010 financial results compared to full-year 2009 results include:
-   Product revenues of $79.8 million, up 26 percent from $63.3 million.
-   Recurring revenues of $68.7 million, up 23 percent from $55.8 million.
-   Services revenues of $17.8 million, up 44 percent from $12.3 million.
-   Gross profit margins of 69.5 percent versus 69.6 percent.

“Our fourth-quarter orders were very strong from both new and existing customers, with good contributions from North America, Europe and Australia,” said Interactive Intelligence founder and CEO, Dr. Donald E. Brown. “Particularly impressive was the increase in the number of our transactions of $250,000 or more, which jumped from 19 in the fourth quarter of 2009 to 31 in the fourth quarter of 2010. While order activity propelled product revenue growth, recurring revenues increased significantly as well. Services revenue growth was also notable.

“For the year we recorded a 25 percent increase in product orders from both new and existing customers, and a 150 percent-plus increase in our cloud-based orders,” Brown said. “We more than doubled the number of $1 million orders, from nine in 2009 to 19 in 2010, and the number of orders over $250,000, from 55 to 90. We plan to build on this momentum by continuing to focus on moving up-market,” Brown said.  

For the fourth quarter of 2010, net income on a generally accepted accounting principles (GAAP) basis was $7.1 million, with diluted earnings per share  (EPS) of $0.37, compared to net income of $2.5 million, with EPS of $0.14 in the fourth quarter of 2009. Net income on a non-GAAP* basis for the fourth quarter of 2010 was $10.4 million, with EPS of $0.54, compared to non-GAAP net income of $5.1 million and EPS of $0.28 in the fourth quarter of 2009.

For the fourth quarter of 2010, non-GAAP net income and EPS exclude purchase accounting-related adjustments of $388,000, or EPS of $0.02, charges for stock-based compensation of $974,000, or EPS of $0.05, and non-cash income tax expense of approximately $2.0 million, or EPS of $0.10. For the fourth quarter of 2009, non-GAAP net income and EPS exclude purchase accounting-related adjustments of $58,000, charges for stock-based compensation of $775,000, or EPS of $0.04, and non-cash income tax expense of $1.8 million, or EPS of $0.10.

Net income for 2010 on a GAAP basis was $14.9 million, with EPS of $0.79, compared to net income of $8.6 million, with EPS of $0.47 in 2009. Net income on a non-GAAP basis was $26.5 million, with EPS of $1.40, compared to non-GAAP net income of $18.2 million, and EPS of $1.00 in 2009.

For the full year of 2010, non-GAAP net income and EPS exclude purchase accounting-related adjustments of $475,000, or EPS of $0.03, charges for stock-based compensation of $4.0 million, or EPS of $0.21, and non-cash income tax expense of approximately $7.2 million, or EPS of $0.38. For 2009, non-GAAP net income and EPS exclude purchase accounting-related adjustments of $232,000, or EPS of $0.01, charges for stock-based compensation of $3.3 million, or EPS of $0.18, and non-cash income tax expense of $6.0 million, or EPS of $0.34.

“Looking forward, we see a healthy pipeline of business,” Brown said. “We expect 2011 revenues to be boosted by the next major release of our flagship all-in-one IP communications software suite, which is due for general availability in the first half of the year. We anticipate growth in our cloud-based orders, with increases in both recurring and services revenues. We currently expect total revenues for 2011 to increase by at least 20 percent, moving past the $200 million mark.

“Our growth strategy calls for continued investment in our cloud-based infrastructure, as well as research and development, and sales and marketing, in order to further capitalize on the momentum that we have built while achieving a non-GAAP operating margin of approximately 14 percent,” Brown concluded.

Other 2010 financial highlights include:
-   Cash flows from operations of $28.7 million, up from $15.1 million in 2009.
-   Deferred revenues totaling $54.1 million as of Dec. 31, 2010, up from $48.2 million as of Dec. 31, 2009.
-   The acquisition of Latitude Software for net cash of $15.3 million in the fourth quarter.
-   Cash and investment balances as of Dec. 31, 2010 totaling $85.9 million, up from $65.0 million as of Dec. 31, 2009, with no debt.

-Ends-

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.

* 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. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included with the financial information included in this press release. 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.

Photo:
http://www.prlog.org/11269570/1

--- End ---

Click to Share

Contact Email:
***@procre8.biz Email Verified
Source:Colin saldanha
Industry:Technology, Telecom
Tags:interactive intelligence, financial results, donald brown, fourth quarter 2010, fourth quarter, inin, uae
Shortcut:prlog.org/11269570
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share