SoundBite Communications Reports Fourth Quarter And Year End 2010 Financial Results
BEDFORD, Mass., Feb. 23, 2011 (GLOBE NEWSWIRE) -- SoundBite Communications, Inc. (Nasdaq:SDBT) today announced its financial results for the fourth quarter and full year 2010. Fourth quarter revenues, computed in accordance with U.S. generally accepted accounting principles (GAAP), were $10.1 million, a decrease of 4% compared to the same quarter in 2009. Net income was $71,000 for the fourth quarter of 2010, or a net income per share of $0.00, versus a net loss of $704,000 in the fourth quarter of 2009 or a net loss per share of $0.04. On a non-GAAP basis, after excluding non-cash stock compensation expense and amortization of intangibles, net income per share was $0.03 in the fourth quarter compared to a net loss per share of $0.03 in the same quarter in 2009.
"The fourth quarter marked an important milestone for SoundBite; both financially and as reflected in our client metrics. We not only achieved our goal of positive operating income on a non-GAAP basis, but due to our tight management of costs during the quarter we were able to achieve positive results on a GAAP basis. The fourth quarter also marked the first sequential quarter of revenue growth in over a year," stated Jim Milton, president and CEO of SoundBite Communications. "In addition to our financial performance, we also continued our focus on operational improvements. During the quarter we received PCI re-certification as a Level 1 service provider. Achieving this most rigorous level of validation available under the PCI Data Security Standard provides a high level of strategic value to us and our clients."
Milton continued, "We continue to make progress in our key initiatives – global growth, mobile expansion and the hosted contact center. Our clients are welcoming our expansion efforts, as evidenced in the new and unique pilots underway, and are looking towards SoundBite for their future proactive communication plans. The headwinds we experienced throughout 2010 continue, but we are starting to see improvement that we believe will have a positive effect on the second half of the year."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV