(BSNS WIRE) Quintus Corporation Announces Record Revenues for First Quarter FY 2001;
License Revenues Up 123% From First Quarter Fiscal Year 2000; Pro Forma Loss
Per Share Narrowed to $0.04 Per Share
Business Editors/High-Tech Writers
FREMONT, Calif.--(BUSINESS WIRE)--July 20, 2000--Quintus
Corporation (Nasdaq:QNTS), a provider of contact center solutions for
e-Customer Relationship Management (eCRM), today announced record
revenues for the first fiscal quarter ending June 30, 2000.
Revenues for the quarter were $18.5 million, an 80% increase over
revenues of $10.3 million in the first quarter of fiscal year 2000. On
a pro forma basis, excluding the impact of acquisition-related charges
and the amortization of deferred stock compensation and adjusting for
the inclusion of preferred shares prior to their conversion to common
stock, net loss for the quarter was $1.4 million or $(.04) per share,
compared to a profit of $275,000 or $.01 per share, for the same
period in fiscal 2000.
For the first fiscal quarter, including acquisition-related
charges and the amortization of deferred stock compensation, net loss
for the quarter was $11.5 million, or $(.32) per share, compared to a
net loss of $690,000 or $(.20) per share for the same period last
year.
"We are pleased to report our third consecutive quarter as a
public company in which we have shown record revenues, exceeded
analyst expectations and have narrowed our pro forma loss per share,"
said Alan Anderson, Chairman and CEO of Quintus Corporation. "During
the past quarter we continued to expand our distribution channels,
both direct and indirect. We have significantly strengthened our sales
force this quarter and believe we are well positioned to continue to
capitalize on the growth in the eCRM market."
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Key highlights during the quarter ended June 30, 2000 include:
-- Quintus Acquired Mustang.com, a provider of e-mail management
solutions with its award-winning Message Center(TM) product
offering and over 350 customers, on May 18, 2000.
-- Quintus Added over 70 New Customers this Quarter, bringing the
total installed base to over 870 customers worldwide.
-- Quintus Entered Into a Global Alliance with Siebel, including
worldwide reseller, marketing and technology agreements.
-- Quintus Announced a Marketing Alliance with AT&T, to provide
e-Customer Relationship Management (eCRM) services to call
centers worldwide.
-- Quintus Began Shipping Quintus eContact Suite 5.5, including
enhanced multi-media blending and reporting, extensive
improvements to our user interface and stronger real time
monitoring.
-- Quintus Added Two Seasoned Executives to its Management Team,
Paul Bartlett as Chief Operating Officer and Nancy Brumfield
as Chief Marketing Officer.
-- Quintus Joined the Russell 3000 Index, which tracks the 3,000
largest U.S. stocks.
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Quintus eContact Suite(TM)
The Quintus eContact Suite enables companies to personalize, route
and manage customer interactions across multiple communication
channels, including the Internet, email and the telephone. Quintus
WebCenter, a component of the eContact Suite leverages the universal
eContact architecture, engine and tools, giving agents the real-time
information they need to personalize service for each customer.
About Quintus
Quintus Corporation (Nasdaq:QNTS) provides a comprehensive
e-Customer Relationship Management (eCRM) solution to manage customer
interactions, such as customer orders, inquiries and service requests,
and deliver consistent customer service across multiple communication
channels, including the Internet, email and telephone.
The Quintus eContact software suite includes applications that
address the needs of customer service representatives and agents in
sales and service, consumer relations, technical support and human
resources centers, and a routing engine to manage customer
interactions. Quintus eContact enables companies to handle high
volumes of customer interactions and leverage opportunities to sell
additional products and services to their customers. Quintus is based
in Fremont, Calif. For more information about Quintus, call
800/337-8941, email sales@quintus.com or access the World Wide Web at
www.quintus.com.
Note to Investors
Except for historical information, the matters discussed in this
release are forward-looking statements subject to certain risks and
uncertainties which could cause actual results to differ materially
from those projected. Such statements include statements about
Quintus' product and market strategies, its relationships with
customers and its partnering efforts and statements regarding future
sales or revenues. Factors that could cause or contribute to such
differences include the risk factors discussed in Quintus' filings
with the U.S. Securities and Exchange Commission, available at
www.sec.gov. All forward-looking statements in this release are based
upon information available to Quintus as of the date of this release,
and Quintus assumes no obligation to update the forward-looking
statements included in this release.
Note to Editors: eContact, CallCenterQ, Quintus CTI, and WebCenter
are trademarks and Quintus is a registered trademark of Quintus
Corporation. All other trademarks and registered trademarks are the
property of their respective owners.
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Quintus Corporation Pro Forma
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(excluding acquisition-related charges and stock-based compensation)
(unaudited)
Three Months Ended
--------------------------
June 30, June 30,
2000 1999
--------------------------
Revenues:
License $ 13,669 $ 6,126
Service 4,831 4,167
-------- --------
Total revenues 18,500 10,293
Cost of Revenues:
License 26 218
Service 4,167 2,421
-------- --------
Total cost of revenues 4,193 2,639
-------- --------
Gross profit 14,307 7,654
Operating Expenses:
Sales and marketing 9,142 4,314
Research and development 4,815 1,873
General and administrative 2,448 998
-------- --------
Total operating expenses 16,405 7,185
-------- --------
Gain (loss) from operations (2,098) 469
Other income (expense), net 695 (194)
-------- --------
Net income (loss) $ (1,403) $ 275
======== ========
Basic Net Loss Per Common Share:
Basic net loss per common share $ (0.04) $ 0.01
======== ========
Shares used in computation, basic (1) 35,631 20,004
======== ========
(1) Includes preferred shares prior to their conversion to
common stock.
Quintus Corporation
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
Three Months Ended
------------------------
June 30, June 30,
2000 1999
------------------------
Revenues:
License $ 13,669 $ 6,126
Service 4,831 4,167
-------- --------
Total revenues 18,500 10,293
Cost of Revenues:
License 26 218
Service 4,167 2,421
-------- --------
Total cost of revenues 4,193 2,639
-------- --------
Gross profit 14,307 7,654
Operating Expenses:
Sales and marketing 9,142 4,314
Research and development 4,815 1,873
General and administrative 2,448 998
Amortization of intangibles 9,315 796
Acquired in-process technologies 606 --
Stock-based compensation 189 169
-------- --------
Total operating expenses 26,515 8,150
-------- --------
Loss from operations (12,208) (496)
Other income (expense), net 695 (194)
-------- --------
Net loss $(11,513) $ (690)
======== ========
Basic and Diluted Net Loss
Per Common Share:
Basic and diluted net loss
per common share $ (0.32) $ (0.20)
======== ========
Shares used in computation,
basic and diluted 35,631 3,428
======== ========
Quintus Corporation
Condensed Consolidated Balance Sheets
(In thousands)
(unaudited)
June 30, March 31,
2000 2000
-----------------------
ASSETS
Cash and investments $ 57,324 $ 59,076
Accounts receivable, net 30,041 22,580
Prepaid expenses and other assets 1,251 2,072
--------- ---------
Total current assets 88,616 83,728
Property and equipment, net 6,103 5,061
Intangible assets and
purchased technologies, net 294,282 43,004
Other assets 6,397 327
--------- ---------
Total assets $ 395,398 $ 132,120
========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities $ 11,734 $ 13,197
Deferred revenue 9,977 7,668
Other liabilities 881 907
--------- ---------
Total current liabilities 22,592 21,772
Other long-term liabilities 1,201 1,234
Stockholders' equity 371,605 109,114
--------- ---------
Total liabilities and
stockholders' equity $ 395,398 $ 132,120
========= =========
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--30--ah/sf*
CONTACT: Quintus Corporation
Susan Salvesen, 510/624-2980
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: SOFTWARE INTERNET COMPUTERS/ELECTRONICS EARNINGS
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