Interactive Intelligence Reports Record Third Quarter Revenues, Revenues Up 98 Percent Over Same Quarter Last Year
PR Newswire - October 21, 1999 16:20
INDIANAPOLIS, Oct. 21 /PRNewswire/ -- Interactive Intelligence, Inc. (Nasdaq: ININ), developer of the "all-in-one" communications server known as the Enterprise Interaction Center(R) (EIC), today announced record revenues of $5.2 million for the quarter ended September 30, 1999, an increase of 98 percent over revenues of $2.6 million in the same quarter a year ago. The net loss for the third quarter was $2.0 million, or $0.18 per share. This compares with a net loss of $1.7 million, or $0.19 per share for the third quarter of 1998. Revenues for the first nine months of 1999 reached $12.5 million, up 108 percent from $6.0 million in revenues for the first nine months of 1998. The net loss for the first nine months of 1999 was $6.2 million, or $0.58 per share, which compares to a net loss for the first nine months of 1998 of $5.3 million, or $0.63 per share. Software license revenues for the third quarter of 1999 were up 78 percent from the corresponding quarter last year, and up 26 percent from the immediately preceding quarter this year.
(Photo: newscom.com )
"We are extremely pleased with the record financial results we achieved in the third quarter and the first nine months of 1999. This was our sixth consecutive quarter of more than 90 percent top line revenue growth, year over year," said Dr. Donald E. Brown, president and chief executive officer.
"We are also very excited about the release of our newest products," said Dr. Brown. "For instance, our latest release, EIC version 1.3, is designed to address the large-scale enterprise market, the new customer care market and the burgeoning service provider market."
New features in EIC 1.3 include enhanced web services, unified messaging for service providers, Lotus Notes support for unified messaging, speech recognition, and enhanced remote support. Also recently introduced were two new add-on products, Interaction Dialer(TM) (predictive dialing) and Interaction Director(TM) (SS7-based pre-call routing).
Interactive Intelligence recently announced a business alliance with Pivotal Corporation, a leading provider of Customer Relationship Management (CRM) and eBusiness Relationship Management (eBRM) solutions, and a technical and marketing alliance with Tundo Corporation, a premier provider of open network telephony systems. "We are particularly pleased to have established relationships with Pivotal and Tundo," said Dr. Brown. "Our agreement with Pivotal will provide the first turnkey CTI-CRM offering, ideal for companies entering the e-business industry, and our agreement with Tundo will provide enterprise users with cost-saving IP-based interaction solutions."
ABOUT INTERACTIVE INTELLIGENCE, INC.
With over 300 installed customer sites to date, Interactive Intelligence, Inc. (Nasdaq: ININ) is a leading developer of enterprise software that allows Enterprises, Call Centers, and Service Providers to automate virtually every aspect of their business communications. The company's flagship product, Enterprise Interaction Center(R) (EIC), is an "all-in-one" Windows NT-based communications server that replaces proprietary communication devices such as PBXs, ACDs, IVRs, voice mail systems, fax servers, Web gateways, and CTI middleware systems. Add-on products include Interaction Web(TM) (Web chat/collaboration, Web callback, and Voice Over Net calls), Interaction Recorder(TM) (voice logging), Interaction Director(TM) (SS7 pre-call routing), and Interaction Dialer(TM) (predictive dialing). EIC for Service Providers offers support for large-scale subscriber services including unified messaging, one-number "follow me", call screening, conferencing, and international call back. The company also markets e-FAQ(TM), a standalone e-mail response management solution for organizations of all sizes. Interactive Intelligence, Inc. is headquartered in Indianapolis with offices in Atlanta, Boca Raton, Los Angeles, St. Louis, Washington D.C., Aix-en- Provence, and Tokyo. The company can be reached at +1-317-872-3000 or www.inter-intelli.com .
This release contains certain forward-looking statements that involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially, are the following: rapid technological changes in the industry, volatility in the market price of the company's common stock; the company's ability to achieve profitability, to manage successfully its growth and increasingly complex third party relationships, to maintain successful relationships with its current and any new resellers, to maintain and improve its current products and to develop new products and to protect its proprietary rights adequately; and other factors described in the company's SEC filings, including the company's Registration Statement on Form S-1, as amended (Registration No. 333-79509), effective September 22, 1999.
Interactive Intelligence, Enterprise Interaction Center, Interaction Web, Interaction Recorder, Interaction Director, and Interaction Dialer, and e-FAQ are servicemarks or trademarks of Interactive Intelligence, Inc. All other products and company names should be considered servicemarks or trademarks of their respective companies.
Interactive Intelligence, Inc.
Condensed Consolidated Statements of Operations (unaudited) (in thousands)
Three months ended Nine months ended
September 30, September 30,
1999 1998 1999 1998
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenues:
Software $3,915 $2,203 $9,397 $5,183
Services 1,315 437 3,141 844
Total revenues 5,230 2,640 12,538 6,027
Costs and expenses:
Costs of software 74 17 134 41
Costs of services 1,605 937 3,965 2,324
Sales and marketing 2,617 1,782 7,170 4,497
Research and
development 1,933 1,035 4,937 2,872
General and
administrative 771 364 1,906 954
Total costs
and expenses 7,000 4,135 18,112 10,688
Operating loss (1,770) (1,495) (5,574) (4,661)
Interest expense, net 227 238 625 666
Loss before
income taxes (1,997) (1,733) (6,199) (5,327)
Income taxes -- -- -- --
Net loss $(1,997) $(1,733) $(6,199) $(5,327)
Net loss per share:
Basic and diluted $(0.18) $(0.19) $(0.58) $(0.63)
Shares used to compute
net loss per share:
Basic and diluted 10,957 9,012 10,679 8,476
Interactive Intelligence, Inc.
Condensed Consolidated Balance Sheets
(in thousands, except share amounts)
September 30, December 31,
1999 1998
Assets (Unaudited)
Current assets:
Cash and cash equivalents $24,476 $2,021
Accounts receivable, net 4,028 3,269
Prepaid expenses 542 269
Other current assets 75 75
Total current assets 29,121 5,634
Property and equipment, net 3,815 2,440
Other assets, net 326 165
Total assets $33,262 $8,239
Liabilities and shareholders'
equity (deficit)
Current liabilities:
Accounts payable and
accrued liabilities $2,342 $1,862
Deferred revenue 4,828 1,500
Current portion of capital
lease obligations 584 541
Total current liabilities 7,754 3,903
Amounts due shareholder -- 8,553
Capital lease obligations, net
of current portion 493 937
Shareholders' equity (deficit):
Common stock 45,855 9,487
Accumulated deficit (20,840) (14,641)
Total shareholders' equity (deficit) 25,015 (5,154)
Total liabilities and
shareholders' equity (deficit) $33,262 $8,239
SOURCE Interactive Intelligence, Inc.
/CONTACT: Michael J. Tavlin, Chief Financial Officer of Interactive
Intelligence, Inc., 317-715-8325, or email, miket@inter-intelli.com/
/Photo: newscom.com
/Web site: inter-intelli.com |
