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PROS Holdings, Inc. Reports Third 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 third quarter ended September 30, 2012.

Total revenue for the third quarter of 2012 was $29.9 million and represented an increase of 19% over the third quarter of 2011, exceeding the high end of our guided range.

CEO Andres Reiner stated, “Our results this quarter exceeded expectations as the market increasingly recognizes our ability to improve sales effectiveness through our big data applications. We have successfully extended our big data science expertise to more than 30 sub-industries, resulting in an expanding set of customers looking to PROS to increase sales performance. The strong momentum we are seeing in our business is enabling us to raise our guidance for the full year.”

For the quarter ended September 30, 2012, GAAP operating income was $1.8 million, compared with $2.7 million in the third quarter of 2011. GAAP net income in the quarter was $1.4 million, or $0.05 per share, compared with $1.9 million, or $0.07 per share, in the third quarter of 2011.

For the quarters ended September 30, 2012 and 2011, non-GAAP operating income was $4.3 million, respectively. Non-GAAP net income for the third quarter of 2012 was $3.2 million, or $0.11 per share, compared with $3.0 million, or $0.11 per share, in the third quarter of 2011.

Recent Business Highlights

  • Signed new customers across several industries, such as Hewlett Packard, Ecolab , Nexidia and Zimmer, among others.
  • Continued to set the pace of innovation in big data software with new capabilities that help companies improve sales effectiveness, such as intelligent quoting for large bid and tender deals.
  • 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 third quarter performance with revenue increasing 19% period over period and non-GAAP EPS of 11 cents. Our strong performance, especially given the challenging macroeconomic environment, was the result of continued execution of our growth strategies which also provides us with confidence to slightly increase our revenue expectations for the full year to the range of $116.5 to $117.1 million, which represents approximately 21% growth from 2011 at the midpoint. Our balance sheet remains strong with $72.6 million in cash and continued positive cash flow. We also plan to continue on our stated path of investing in support of the growth of the business in order to capture the opportunity we see in front of us while continuing to deliver solid profitability.”

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