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TheStreet Open House

PROS Holdings, Inc. Reports Third Quarter 2013 Financial Results

Stocks in this article: PRO

PROS Holdings, Inc. (NYSE: PRO), a big data software company, today announced financial results for the third quarter ended September 30, 2013.

Total revenue for the third quarter of 2013 was $36.8 million and represented an increase of 23% over the third quarter of 2012.

CEO Andres Reiner stated, “We are pleased to deliver another solid quarter with revenue at the high end of guidance. We believe our performance reflects our continued execution against our stated long-term growth strategies of accelerating awareness and adoption of our solutions, extending our product leadership position, and increasing our global reach and scale. We believe PROS is in a strong position to capitalize on the market opportunity ahead, and our planned acquisition of Cameleon Software will only make us stronger.”

For the quarter ended September 30, 2013, GAAP operating income was $1.4 million, compared with $1.8 million in the third quarter of 2012. GAAP net income for the third quarter was $1.0 million, or $0.03 per share, compared with $1.4 million, or $0.05 per share, in the third quarter of 2012.

For the quarter ended September 30, 2013, non-GAAP operating income was $6.3 million, compared with $4.3 million in the third quarter of 2012. Non-GAAP net income for the third quarter of 2013 was $4.6 million, or $0.15 per share, compared with $3.2 million, or $0.11 per share, in the third quarter of 2012.

Recent Business Highlights

  • Announced plans to acquire Cameleon Software, a market-leading configure, price and quote software provider headquartered in Toulouse, France.
  • Continued to scale across a diverse range of industries with new customers such as Air Berlin, B.W. Rogers, and Unify (formerly known as Siemens Enterprise Communications), among others.
  • Introduced PROS Availability Server, designed to help airlines improve revenue and reduce costs by providing a real-time dynamic pricing engine direct to the airline’s distribution channels.
  • Announced addition of Eric Allen as General Manager of EMEA, strengthening the leadership team and go-to-market strategies in Europe.
  • Achieved powered-by HANA certification by SAP for PROS B2B solution, continuing PROS longstanding commitment to provide the most complete and seamless big data application for pricing and sales effectiveness in the SAP community.

Executive Vice President and Chief Financial Officer Charles Murphy stated, “We are pleased with our third quarter performance with revenue increasing 23% period over period. We also saw strong operating profit growth while continuing to invest in the business. We continue to have a strong balance sheet with cash of approximately $91 million and no bank debt. Our global pipeline of opportunities remains strong, and we remain confident in our ability to achieve full year revenue growth of approximately 23%.”

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