This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

SoundBite Communications Reports Third Quarter 2010 Financial Results

BEDFORD, Mass., Nov. 3, 2010 (GLOBE NEWSWIRE) -- SoundBite Communications, Inc. (Nasdaq:SDBT) today announced its financial results for the third quarter, 2010. Third quarter revenues, computed in accordance with U.S. generally accepted accounting principles (GAAP), were $9.7 million, a decrease of 7% compared to the same quarter in 2009. On a GAAP basis, net loss per share was $0.07 in the third quarter versus a net loss per share of $0.04 in the same quarter of 2009. On a non-GAAP basis, after excluding non-cash stock compensation expense and amortization of intangibles, net loss per share was $0.05 in the third quarter compared to a net loss per share of $0.02 in the same quarter in 2009.

"SoundBite continues to make progress in our strategic growth areas of global growth, mobile momentum and hosted predictive dialer despite the economic headwinds we face. During the quarter, we launched our hosted Predictive Dialer Offering, saw an acceleration of activity in the interactive mobile space, and are beginning to see our UK business start to ramp," stated Jim Milton, president and CEO of SoundBite Communications.  

Milton continued, "On the financial front, the revenue ramp was still slower than we anticipated. Despite revenue results at the low end of our forecasted revenue guidance, our other key financial metrics were at the mid-point or higher of our guided range."

Highlights of the Quarter

  • Announced the addition of predictive dialing functionality to enhance customer contact strategies. The new hosted predictive dialing solutions allow collections agencies and large consumer-facing organizations to select the most effective contact strategy required to achieve their business objectives.
  • Selected by Barclaycard UK and one other major European financial services provider to deliver proactive customer communications and ramping two European reseller relationships. The Company also established a wholly-owned subsidiary, SoundBite Communications UK, Limited, to meet the growing demand for its proactive customer communications solutions in Europe.
  • Ranked #1 for customer satisfaction in Ovum's Proactive Customer Communications report. The report cites that SoundBite is both highly recognized and highly regarded by clients as a provider of hosted proactive customer communications.  The Company achieved industry-leading results in both end-user sentiment scores and in technological assessment scores including product strategy, features and functionality, data integration, reliability and scalability.

Quarterly Results

GAAP Results

Gross margin for the third quarter of 2010 was 59.3% versus 59.8% in the third quarter of 2009.  Operating expenses were $7.0 million in the third quarter of 2010 and as a percentage of revenues were 71.5% versus 66.5% in the year-earlier period.     

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs