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PROS Holdings, Inc. Reports Second Quarter 2012 Financial Results

Stocks in this article: PRO

PROS Holdings, Inc. (NYSE: PRO), a world leader in pricing and revenue management software, today announced financial results for the second quarter ended June 30, 2012.

Total GAAP revenue for the second quarter of 2012 was $28.1 million and represented an increase of 18% over the second quarter of 2011, exceeding the high end of our guided range.

CEO Andres Reiner stated, “We had a strong second quarter driven by an uptick in new customer signings in our business-to-business industries and we continue to see strong demand across North America, Asia, Middle East and Europe. We believe this is a result of investments in our go-to-market initiatives as well as our ability to provide real-time big data applications across a broad set of industries. We remain confident that our efforts to accelerate awareness, extend our product leadership and expand our global reach and scale are paying off and position us well for the long term.”

For the quarter ended June 30, 2012, GAAP operating income was $2.0 million, compared with $2.1 million in the second quarter of 2011. GAAP net income in the quarter was $1.0 million, or $0.04 per share, compared with $1.4 million, or $0.05 per share, in the second quarter of 2011.

For the quarter ended June 30, 2012, non-GAAP operating income was $4.4 million, compared with $3.7 million in the second quarter of 2011. Non-GAAP net income for the second quarter of 2012 was $2.8 million, or $0.10 per share, compared with $2.5 million, or $0.09 per share, in the second quarter of 2011.

Recent Business Highlights

  • Signed new customers across several industries, such as Kimberly Clark, TE Connectivity, and ARUP Laboratories, among others, further demonstrating the horizontal applicability of PROS solutions. PROS serves customers in more than 30 sub-industries, up from eight in 2005.
  • Announced participation in Microsoft Dynamics ISV Partnership Program to provide Microsoft Dynamics CRM customers with actionable, real-time customer insights that can improve sales performance.
  • Filed four new patents to the PROS patent portfolio, including innovative new capabilities for optimizing deals, identifying high impact pricing opportunities, enhancing real-time dynamic pricing, and improving the precision of setting prices.
  • Achieved another level of product certifications from SAP for integration of PROS Pricing Solution Suite with SAP ERP and SAP CRM, continuing to provide the most complete and seamless integration experience.

Executive Vice President and Chief Financial Officer Charles Murphy stated, “We are pleased with our second quarter performance and to be reconfirming our full year revenue growth guidance of approximately 20%, especially given the current challenging macroeconomic environment. Revenue increased 18% period over period and non-GAAP operating income increased 19%. Our balance sheet remains strong with $71.2 million in cash and continued positive cash flow. The strategic investments we are making to drive our growth are paying off and we will continue these initiatives to capture the opportunity we see in front of us.”

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