The net loss was $7.5 million, or 26 cents per basic and diluted common share, compared with a net loss of $2.3 million, or 8 cents per basic and diluted common share, from the year ago quarter.
The communications software services company reported non-GAAP net income was $2.1 million, or 7 cents per diluted common share for the 2014 first quarter, compared to $5.1 million, or 18 cents per diluted common share for the 2013 first quarter.
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The company reported revenue increased 11% for the 2014 first quarter to $43.9 million versus $36.9 million from the same period last year.
TheStreet Ratings team rates BROADSOFT INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate BROADSOFT INC (BSFT) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."