This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bottomline Technologies Reports Record Second Quarter Results

Bottomline Technologies (NASDAQ: EPAY), a leading provider of cloud-based payment, invoice and banking solutions, today reported financial results for the second quarter ended December 31, 2012.

Revenues for the second quarter were $63.6 million, an increase of $8.5 million, or 15%, from the second quarter of last year. Subscription and transaction revenues, which are primarily related to the company’s banking, legal spend management and Paymode-X ® cloud-based applications, increased 59% from the second quarter of last year to $30.4 million.

Gross margin for the second quarter was $32.9 million, an increase of $2.4 million from the second quarter of last year. Net loss for the second quarter was $7.0 million, or net loss per share of $0.20.

Core net income for the second quarter was $11.8 million. Core net income excludes acquisition-related expenses (including amortization of intangible assets) of $7.8 million, restructuring expenses of $0.8 million, equity-based compensation of $4.7 million and non-core charges of $5.5 million associated with the convertible notes we issued during the quarter. Core earnings per share was $0.33.

“We had an outstanding quarter with record revenues, record subscription and transaction revenues and record levels in several of our other key financial performance metrics, and significant advancement of our strategic plan. Our focus on cloud-based offerings is clearly paying off as evidenced by subscription and transaction revenues of over $30 million,” said Rob Eberle, President and CEO of Bottomline Technologies. “Strategically, we saw significant advancement in each of our major growth drivers during the quarter. We also completed a convertible debt offering on very favorable terms raising $167 million in additional capital. The combination of our continued execution, the strategic advancement of our growth plan and the additional capital on our balance sheet is expected to drive future predictable and profitable revenue growth for Bottomline.”

Revenues for the six months ended December 31, 2012 increased 16% to $125.3 million as compared with $107.6 million last year. Subscription and transaction revenues increased 61% to $58.9 million in the six months ended December 31, 2012. Net loss for the six months ended December 31, 2012 was $7.0 million, or $0.20 per share.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs