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."
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