Envivio has set the following financial performance guidance for the third quarter of fiscal year 2013 ending October 31, 2012:
- Revenue is expected to be in the range of $10.0 to $11.0 million.
- Non-GAAP gross margin percentage is expected to be in the range of 59 to 62 percent.
- Non-GAAP operating loss/income is expected to be in the range of ($4.1 million) to ($3.2 million).
- Non-GAAP net loss/income per share is expected to be in the range of ($0.16) to ($0.12).
- The company will take a one-time charge of approximately $275,000 in the third quarter of fiscal 2013 for severance and other related benefits related to the cost-cutting program enacted in August 2012.
Conference Call Information
Envivio will host an investor conference call and live webcast today at 5:00 p.m. EDT (2:00 p.m. PDT) to discuss its financial results for the second quarter ended July 31, 2012. To access the conference call, dial 877-941-2068, using conference code 4559268. Callers outside the U.S. and Canada should dial 480-629-9712, using conference code 4559268. A replay of the conference call will be available through Thursday, September 13, 2012. To access the replay, please dial 800-406-7325 and enter pass code 4559268. Callers outside the U.S. and Canada should dial 303-590-3030 and enter pass code 4559268. The live webcast will be accessible on Envivio's investor relations website at http://ir.envivio.com and will be archived and available on this site for at least three months.
Non-GAAP Financial MeasurementsThis news release dated September 6, 2012 contains non-GAAP financial measures. Tables are provided in this news release that reconcile the non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures include non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP net income and non-GAAP net income per share. To supplement the Company's consolidated financial statements presented on a GAAP basis, management believes that these non-GAAP measures provide useful information about the Company's core operating results and thus are appropriate to enhance the overall understanding of the Company's past financial performance and its prospects for the future. Management is excluding from its non-GAAP operating results Financial Accounting Standards Board ASC 718 (FAS 123R) stock-based compensation. Management uses these non-GAAP measures to evaluate the Company's financial results, and believes these measures provide useful information to investors. For its internal budgeting process, management also uses financial statements that do not include, when applicable, share-based compensation expense. The adjustments to the Company's GAAP results are made with the intent of providing both management and investors a more complete understanding of the Company's underlying operational results, trends and performance. The presentation of additional information is not meant to be considered in isolation or as a substitute for or superior to financial results determined in accordance with GAAP.