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Interactive Intelligence Announces 2010 Third-Quarter Results - Global provider of unified IP business communications solutions announces that revenues increase 26 percent (Nasdaq: ININ)
Interactive Intelligence Announces 2010 Third-Quarter Results

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2010/11/08 - Global provider of unified IP business communications solutions announces that revenues increase 26 percent (Nasdaq: ININ).

   
 
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Interactive Intelligence, a global provider of unified IP business communications solutions, has announced results for the three and nine months ended Sept. 30, 2010.

The company reported the following for the third quarter of 2010:

- Total revenues of $41.8 million, an increase of 26 percent over revenues of $33.2 million in the same quarter last year.
-Net income on a generally accepted accounting principles (GAAP) basis of $3.5 million, with diluted earnings per share (EPS) of $0.19, compared to net income of $2.8 million and EPS of $0.15 in the third quarter of 2009.
- Non-GAAP* net income of $6.9 million, with EPS of $0.37, up from non-GAAP net income of $5.7 million and EPS of $0.31, in the same quarter last year.

Non-GAAP net income and EPS for the third quarter of 2010 excluded stock-based compensation expense of approximately $1.0 million, or EPS of $0.06, and non-cash income tax expense of $2.4 million, or EPS of $0.12. The 2009 third-quarter non-GAAP net income and EPS excluded stock-based compensation expense of $975,000, or EPS of $0.05, and non-cash income tax expense of $1.9 million, or EPS of $0.11.

Cash and investment balances as of Sept. 30, 2010 were $85.5 million and the company has no debt.

“Our performance during the quarter was strong across North America, Europe, Middle East, Africa, and specific regions throughout Asia-Pacific,” said Interactive Intelligence founder and CEO, Dr. Donald E. Brown. “As we reported in our preliminary third-quarter announcement, we closed a number of large orders during the quarter, which was a main contributor to our increased revenues and earnings. We continue to execute on our strategy of moving up-market, with record average dollar amounts for new orders. We’re also seeing strong increases in new cloud-based communications orders, positively building our recurring revenue base.”

The following are results for the first nine months of 2010:

- Total revenues of $115.7 million, a 21 percent increase over revenues of $95.5 million in the first nine months of 2009.
- Other expense, principally due to foreign exchange losses, of $801,000, compared to other income, principally due to foreign exchange gains, of $938,000 for the same period last year.
- GAAP net income of $7.8 million, or EPS of $0.42, compared to $6.1 million, or EPS of $0.34, for the first nine months of 2009.
- Non-GAAP net income of $16.0 million, or EPS of $0.86, compared to $12.9 million, or EPS of $0.71, for the same period last year.

Non-GAAP net income and EPS for the first nine months of 2010 exclude charges for stock-based compensation of $3.0 million, or EPS of $0.16, and non-cash income tax expense of $5.2 million, or EPS of $0.28. For the same period last year, non-GAAP net income and EPS exclude charges for stock-based compensation of $2.5 million, or EPS of $0.14, and non-cash income tax expense of $4.3 million, or EPS of $0.23.

Other recent company highlights included:

- Acquisition of Latitude Software, an accounts receivable management software and services company, effective Oct. 1, 2010.
- Launch of "Ditch the Frustration" campaign designed to provide educational resources to assist consumers and businesses with customer service.
- Opening of on-site health care clinic to help improve employee wellness.
- TMC Labs Unified Communications Innovation award for communications-based process automation product, Interaction Process Automation™ (IPA).
- Network Products Guide's Reader's Trust award for Interaction SIP Station™.
- Frost & Sullivan’s Technology Company of the Year award.
- More than 400 people in attendance at the 12th annual Interactive Intelligence Partner Conference.

For more information please visit inin.com/.

 
 
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Interactive Intelligence Announces 2010 Third-Quarter Results

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