September 5, 2001
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Raindance Commun Sees FY02 Revenue Of $53M-$55M
Dow Jones Newswires
LOUISVILLE, Colo. -- Raindance Communications Inc. (RNDC) expects 2002 revenue of $53 million to $55 million - a 40% to 50% increase over anticipated 2001 revenue - with gross margins trending toward growth in the mid-50's percent range by the end of 2002.
The company also aims to be EBITDA - earnings before interest, taxes, depreciation and amortization - profitable in the first quarter of 2002, with a fully funded business plan.
A consensus estimate wasn't available. In 2000, the company - then named Evoke Communications Inc. - posted a loss of $98.8 million, or $4.69 a share, including charges, on revenue of $18 million.
Raindance said it expects to improve use of its extensive infrastructure investment, resulting in significant and consistent improvements in gross margins. The company also sees increasing revenue from higher margin services improving margins as the year progresses.
As reported Aug. 8, the company expects full-year 2001 negative EBITDA of $11 million to $13 million, an improvement from the company's previous guidance of a negative EBITDA of $14 million to $17 million.
The company at that time also said it was 'comfortable' with the low end of its previous 2001 revenue guidance range of $36 million to $44 million.
Raindance provides virtual meeting services.
-Kathy Chu; Dow Jones Newswires; 201-938-5400 |
