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SoundBite Communications Announces Preliminary Fourth Quarter And Year End 2012 Financial Results

Stocks in this article: SDBT

BEDFORD, Mass., Jan. 14, 2013 (GLOBE NEWSWIRE) -- SoundBite Communications, Inc. (Nasdaq:SDBT), a provider of customer experience management solutions, today announced preliminary unaudited financial results for the fourth quarter and the year ended December 31, 2012.

Based on currently available information, the Company expects to report fourth quarter revenue, computed in accordance with U.S. generally accepted accounting principles (GAAP), of at least $13.6 million, a 13% increase over the fourth quarter of 2011 and the highest revenue quarter in the Company's history. This compares to the previously guided range of $12.3 million to $13.1 million for the fourth quarter of 2012, and $12.0 million in the year ago period. GAAP operating income for the fourth quarter of 2012 is expected to have been at least $250,000, compared to $397,000 in the year ago period.

In addition, the Company anticipates non-GAAP operating income to have been at least $1.0 million, exceeding the Company's previously guided range of breakeven to $500,000. In computing the preliminary non-GAAP operating income for the fourth quarter, the Company excluded the following estimated amounts:  amortization of intangibles of $400,000, stock based compensation of $300,000 and a present value adjustment of contingent consideration related to the SmartReply earn-out of approximately $40,000.

On a full year basis, the Company anticipates revenues of at least $47.8 million.  This preliminary result is a 15% increase over the $41.7 million for the full year of 2011. The GAAP operating loss is expected to be approximately $3.0 million, compared to $2.4 million in 2011. 

"SoundBite continued to see momentum in its business, driven by a seasonally strong performance in our mobile marketing business and increased demand in our hosted contact center business during the fourth quarter. We are very pleased with these preliminary record revenue results, as well as other significant business events such as the positive FCC ruling and dismissal of one of our class action suits in the fourth quarter. The FCC ruling further validates SoundBite's leadership position and delivers clarity to our clients and the industry," stated Jim Milton, president and CEO of SoundBite Communications. "In addition, based on the growing confidence in our business and in an effort to return value to our shareholders, we delivered a special one-time dividend in December of $0.50 per share. These significant business events and the successes we are having in transforming our business – growing  revenue, attaining sustainable profitability, and removing a great deal of these regulatory headwinds – set a solid foundation for us to build on as we enter 2013."

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