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SoundBite Communications Reports First Quarter 2013 Financial Results

Stocks in this article: SDBT

BEDFORD, Mass., May 9, 2013 (GLOBE NEWSWIRE) -- SoundBite Communications, Inc. (Nasdaq:SDBT), a provider of customer experience management solutions, today announced its financial results for the first quarter 2013. First quarter revenues, computed in accordance with U.S. generally accepted accounting principles (GAAP), were $11.3 million, an increase of 2% compared to the same quarter in 2012. GAAP net loss for the first quarter of 2013 was $1.4 million, or $0.08 per share, versus net loss of $247,000 or $0.02 per share in the first quarter of 2012.

On a non-GAAP basis, after excluding the effects of amortization of intangible assets, non-cash stock-based compensation expense, severance expense, a present value adjustment related to the SmartReply contingent consideration, and a tax provision, net loss was $417,000 or $0.03 per share in the first quarter of 2013 compared to a net loss of $431,000 or $0.03 per share in the same quarter in 2012.

"This was a solid quarter for us on an operational basis. SoundBite executed well, despite the first quarter being a traditionally seasonally weaker quarter; with revenue near the mid-point of our guidance range, mobile growing 30% over last year, a dozen new clients and partners starting pilots and running campaigns on our platforms, and gaining traction in our key initiatives such as the hosted dialer," stated Jim Milton, president and CEO of SoundBite Communications. 

Milton continued, "By continuing our transformation into Customer Experience Management and expanding our offerings during 2012 we set a strong foundation for growth for SoundBite. As we increase our channel partnerships, convert new client activity into revenue streams, and drive intelligent, value-added mobile and cross-channel campaigns deeper into our client base during the first half we believe we will be set to deliver sustainable profitability to our shareholders in the second half of 2013."

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