RightNow Technologies Announces First Quarter 2009 Financial Results
Bozeman, Mont., April 29, 2009
RightNow® Technologies, Inc. (NASDAQ: RNOW) today announced results for the first quarter ended March 31, 2009. Total revenue was $36.0 million in the first quarter of 2009, compared to $32.9 million in the first quarter of 2008, reflecting 10% growth in revenue.
Net income in the first quarter of 2009 was $1.3 million or $0.04 per share, compared to a net loss of $(3.4) million or $(0.10) per share, in the first quarter of 2008. Non-GAAP net income in the first quarter of 2009, which excludes stock-based compensation charges of $1.5 million, was $2.8 million or $0.09 per share, as compared to non-GAAP net loss of $(2.1) million or $(0.06) per share, in the first quarter of 2008.
New, renewed and expanded customer relationships during the first quarter of 2009 included Activision Blizzard, Inc., Alienware, drugstore.com, eHarmony, Fasthosts, Federal Aviation Administration, Lean Logistics, Sony Computer Entertainment America, Sprint Nextel, and Seventh Generation.
“We are pleased to report earnings per share ahead of guidance as we maintained our commitment to improving operating margins. That said, we saw some impact from the current macroeconomic conditions on our sales in the first quarter,” stated Greg Gianforte, CEO and founder. “While we remain cautious in the current environment, we believe the pipeline for Q2 is strong with a good mix of opportunities across deal sizes, verticals and geographies. We continue to focus on two primary objectives for 2009; taking care of the customer and growing profitability.”
Guidance
- For the full year 2009, revenue is expected to be in the range of $147 to $151 million compared to previous guidance of $150 to $155 million.
- Net income (loss) per share for the full year 2009 is expected to be in the range of $(0.02) to $0.03 compared to previous guidance of $(0.07) to $0.01.
- Non-GAAP net income per share for the full year 2009, which excludes stock-based compensation, is expected to be in the range of $0.20 to $0.25 compared to previous guidance of $0.15 to $0.23.
- For the second quarter of 2009, revenue is expected to be approximately $36 million, comprised of an increase in recurring revenue offset by a decrease in professional services revenue. Second quarter net loss per share is expected to be in the range of $(0.04) to $(0.02). Second quarter non-GAAP net income per share, which excludes stock-based compensation, is expected to be in the range of $0.03 to $0.05.
Quarterly Conference Call
RightNow Technologies will discuss its quarterly results today via teleconference at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time.) To access the call, please dial (877) 718-5108, or outside the U.S. (719) 325-4842, at least five minutes prior to the 2:30 p.m. MT start time. A live webcast of the call will also be available at http://investor.rightnow.com/index.cfm under the Events & Presentations menu. An audio replay will be available between 5:30 p.m. MT April 29, 2009 and 9:59 p.m. MT May 13, 2009 by calling (888) 203-1112 or (719) 457-0820, with passcode 6873947. The replay will also be available on the Company’s website at http://investor.rightnow.com.
For the full report and complete SEC filing information and details please visit: http://investor.rightnow.com/
About RightNow Technologies
RightNow (NASDAQ: RNOW) delivers the high-impact technology solutions and services organizations need to cost-efficiently deliver a consistently superior customer experience across their frontline service, sales and marketing touch-points. Approximately 1,900 corporations and government agencies worldwide depend on RightNow to achieve their strategic objectives and better meet the needs of those they serve. RightNow is headquartered in Bozeman, Montana. For more information, please visit www.rightnow.com.
RightNow is a registered trademark of RightNow Technologies, Inc. NASDAQ is a registered trademark of The NASDAQ Stock Market LLC.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words and include, but are not limited to, statements regarding projected results of operations and management’s future strategic plans. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
The risks and uncertainties referred to above include, but are not limited to, risks associated with general economic conditions; fluctuations in foreign currency exchange; our business model; our ability to develop or acquire, and gain market acceptance for, new products in a cost-effective and timely manner; the gain or loss of key customers; competitive pressures; our ability to expand or contract operations and to grow profitability; fluctuations in our earnings as a result of the impact of stock-based compensation expense; interruptions or delays in our hosting operations; breaches of our security measures; our ability to protect our intellectual property from infringement, and to avoid infringing on the intellectual property rights of third parties; our ability to manage and expand our partner relationships; any unanticipated ambiguities in fair value accounting standards; and our ability to expand, retain and motivate our employees. Further information on potential factors that could affect our financial results is included in our Annual Report on Form 10-K, quarterly reports of Form 10-Q, and in other filings with the Securities and Exchange Commission. The forward-looking statements in this release speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason.
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