Oct 18 Earnings Report Newswire
Perficient Inc. Reports Record Third Quarter Revenue, Up 169%
AUSTIN, Texas, Oct. 18 /PRNewswire/ -- Perficient Inc. (Nasdaq: PRFT), a leading Internet consulting firm, announced today record revenue for the third quarter ended September 30, 1999, which rose 169% to a record $993,000 from $369,000 in the like period a year ago. The Company reported a net loss of $151,000 or $.04 per share, compared to earnings of $.04 per share in the third quarter of 1998. "We continue to be extremely pleased with our significant quarter-over-quarter and sequential revenue growth," said Jack McDonald, CEO of Perficient. "Our strong Vignette practice continues to gain momentum, with total headcount now at 25 consultants, up from 12 consultants at the beginning of the third quarter, 1999."
"In addition to our revenue and consultant headcount growth, we made significant strides during the third quarter in building our recruiting and training group, which now includes five full-time professionals. With our IPO successfully completed, we are well positioned with the resources necessary to expand this infrastructure, which enhances our ability to meet the strong demand for our services."
For the nine months ended September 30, revenue rose 254% to $1,916,000 from $541,000 in the same period a year ago. For the period, the net loss was $1,082,000 or $.38 a share, compared to earnings of $.04 during the same period in 1998. Included in the loss for the first nine months of 1999 was $937,000 in non-cash compensation charges incurred in connection with certain sales of Perficient common stock and employee stock option grants in January 1999.
About Perficient
Perficient Inc., based in Austin, Texas, provides virtual professional services organizations to Internet software companies. A virtual professional services organization is a dedicated team of information technology professionals that plans, manages, and executes the installation, or implementation, of complex software products. Perficient Inc. enables Internet software companies to focus on their core business and bring products to market faster, which helps them to achieve success in the marketplace. Perficient Inc. works with a number of leading Internet software companies including Vignette Corporation, Motive Communications, Interwoven Corporation and Ventix Corporation.
About Vignette
Vignette Corporation (Nasdaq: VIGN), the leader in the category of E-Relationships software products and services, provides enterprise solutions for companies that are building businesses online. More than 290 global companies, including First Union National Bank, US West, National Semiconductor, DaimlerChrysler, Nokia, Qualcomm, CNET, Bertelsmann and Ziff-Davis' ZDNet, use Vignette solutions as part of their online strategy. Vignette has won numerous industry awards including the Crossroads A-list Award; Red Herring Magazine's 100 -- Top 50 Public Companies in 1999, Best Overall Private Company in 1998 and 1998 Best Product Award for StoryServer. In April 1999, the company's StoryServer(TM) 4 was included in the Permanent Research Collection on Information Technology at the Smithsonian's National Museum of American History. Vignette spearheaded the Information & Content Exchange (ICE) initiative with more than 80 other member companies including Microsoft, National Semiconductor and Sun Microsystems. Based on the Extensible Markup Language (XML), ICE 1.0 is the world's first protocol to enable content syndication. Vignette's product line includes Vignette StoryServer 4, Vignette Development Center (VDC), Multi-Channel Server and Vignette Syndication Server (VSS), the world's first ICE-compatible product. Headquartered in Austin, Texas, Vignette Corporation also has offices located throughout Europe and in Australia and can be found on the Web at vignette.com .
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, our limited operating history, our history of losses, our dependence on Vignette, our limited focus on the market for Internet software, and other risks detailed from time to time in our filings with the Securities and Exchange Commission. These risks could cause our actual results for the current fiscal year and beyond to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the company. In addition, the information contained herein is derived from our unaudited financial statements and is preliminary in nature, and may be subject to revision and adjustment. The results of operations detailed herein are not necessarily indicative of the results that may be expected for any future period. |
