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Nice looking chart!
It's funny how i found this stock, when quepasa announced their deal with egam I was looking into that company and typed in the wrong symbol. I too fell in love with the share structure, PE and also checked out who their compitition was....RNOW has been on a tear. This looks like a great space to be in....Cloud, CRM, and the social space. GLTU
TEEROY
i'm totally lousy at pps predictions Mar 15, 2011 140
i'm learning to keep a core position
and trade out a portion based on what
i see that the shorts do .. i find this
info that is *reported* to be useless
i swear they just make it up or throw a dart
Feb 28, 2011 140
Feb 15, 2011 142
Jan 31, 2011 1,002
Jan 14, 2011 90
but i do follow volume and percentages and
MM info .. and what i see on l2 ~ which so far
egan's ask is a paper tiger .. essentially nothing
there ..
i'll post out reg sho info and the MM info
if not over the weekend then early next week
so you can check it out ...
it's clear this isn't ihub buying <looks like 6 follow>
the co.s SS is awesome and has held nicely
and one other thing i really liked ~ mgmt is
downright stingy in their stock options issued :)
been in z*gg and q*sa since last summer .. those are
short magnets .. curious to see if egan becomes one as well
what i like when the shorts get in too deep .. is they create
a trading channel one can drive a truck thru
makes it very easy to play the sobs back at their own game
==
4kids
all jmo
Where do u see this going in the next 6 months 4kids. I see were in a couple other stocks together. I've been in Zagg for 2 years and quepasa for over 6 months. All three gaining traction!
EGAN flying :)
very nice
bid/ask .. 2.80/2.94 .. 1x1
volume = 97k+
==
4kids
all jmo
thanks
and best of luck with egan
==
4kids
all jmo
Congrads on your gain, I too got in around $1.40 and plan on selling my half at $5.
nice to see both volume and pps moving up .. :) Date Open High Low Close Volume
3/24/11 2.45 2.60 2.45 2.60 37,800
3/23/11 2.31 2.45 2.15 2.45 119,569
3/22/11 2.25 2.31 2.20 2.25 117,864
3/21/11 2.10 2.25 2.10 2.25 15,729
3/18/11 2.00 2.08 2.00 2.00 850
==
4kids
all jmo
nice to see the pps move above 2.00
selling 50 percent of my egan shares at 2.50
<purchased at the 1.35 level> will be holding
the remaining as *freebies*
glta
==
4kids
all jmo
eGain and WorldManuals Transform Mobile Operator Device Support and Web Self-Service With Cloud Initiative
Pay-As-You-Serve Solution Slashes Upfront Costs, Accelerates Web Self-Service Deployment, and Drives First Contact Resolution
On Monday February 14, 2011, 7:05 am EST
BARCELONA, SPAIN--(Marketwire - 02/14/11) - Mobile World Congress -- eGain Communications (OTC.BB:EGAN - News) the leading provider of cloud and on-site customer interaction hub software and WorldManuals, a specialist in mobile device support solutions, today launched a joint proposition for the telecom market. They announced an out-of-the-box, knowledge-powered customer service solution that enables mobile operators to elevate the quality of web self-service and contact centre support experiences in a matter of days. The solution, which combines comprehensive device support content with intuitive access methods, is available through an innovative pay-as-you-serve cloud model, eliminating upfront infrastructure costs and enabling rapid time to benefit.
Andrew Mennie, General Manager of eGain EMEA, said, "In mature telecom markets, operators are on the look-out for a low-risk approach to proving the benefits of self-service solutions, where they can avoid being tied to a long-term contract or a lengthy deployment and evaluation process. The eGain-WorldManuals solution eliminates risk by combining a comprehensive solution with a pay-as-you-serve model, based on how much subscribers use the service. It's a simple, scalable model that provides a fast track to web self-service deployment and utilisation. The pre-configured solution can be up, running, and providing on-demand customer service for subscribers within less than two weeks."
The solution incorporates up-to-the-minute support content for the most popular devices and enquiries, flexible and intuitive content access methods for high findability, self-organising content and ongoing content management to provide the most comprehensive, out-of-the-box web self-service solution for mobile operators on the market today. The solution includes:
* Contextual, intuitive access to FAQs through eGain widgets anywhere on the operator's website.
* Hosted access to proven, best-in-class help and support content for the top mobile handsets.
* Ongoing maintenance of content in multiple languages.
* A real-time management information dashboard for monitoring usage and trend analysis.
* A pay-for-use investment model.
Vodafone Portugal is the first to reap the benefits of the WorldManuals and eGain partnership. Pedro Abreu, Head of eCare at Vodafone Portugal, explained, "The combination of eGain's market-leading knowledge management capabilities with WorldManuals' tailored device support content, delivers an intuitive user experience that is proven to maximise first contact resolution for complex device enquiries for contact centre and self-service users. Deployed for agent and subscriber self-service, the combined solution has increased self-service adoption by as much as 80% for device-related support enquiries."
Thomas Thrane, CEO of WorldManuals, commented, "Supporting the sophisticated features and applications of today's smartphones is complex. While web self-service is proven to reduce cost-to-serve and enhance customer satisfaction, it must be integrated with up-to-date support content in order to be effective. The joint proposition combines the power of flexible content access and up-to-date and relevant content for superior subscriber experience and reduced service costs for the operator."
Upon validating the benefits of the joint solution in the cloud model, mobile operators can seamlessly expand and scale up the deployment in line with subscriber demand and adoption. This might include initiatives such as adding users and languages, expanding the knowledge base by federating in-house content, and delivering embedded support through the mobile devices.
"While the proposition addresses the demand for web self-service adoption in mature markets, it is equally applicable in emerging markets where internet penetration is lower," Mennie explained. "This model can also be utilised in the contact centre environment to offer agents comprehensive, simple and flexible access to that all important content. Like the web self-service model, the contact centre option maximises a mobile operator's precious customer support resources, improving first-contact resolution, and reducing the burden on agents."
About WorldManuals
WorldManuals is a privately owned company that specialises in delivering mobile device support solutions. WorldManuals was founded in 2002 with one goal in mind: to develop an easy-to-use interface enabling mobile operators to convey complex technical support information to non-technical users. Since 2002, it has provided the sustained delivery of high-quality mobile device support information for its clients. In return, its clients have gained significant operational efficiency, increased ARPU and improved customer satisfaction.
Headquartered in Copenhagen, Denmark, WorldManuals also has operating presence in Brazil, South America.
About eGain Communications Corporation
eGain (OTC.BB:EGAN - News) is the leading provider of cloud and on-site customer interaction hub software. For over a decade, hundreds of the world's largest companies have relied on eGain to transform their traditional call centres, help desks, and web customer service operations into multichannel customer interaction hubs (CIHs). Based on the Power of One™, the concept of one unified platform for multichannel customer interaction and knowledge management, eGain solutions improve customer experience, optimize service processes end to end, increase sales, and enhance contact center performance.
Headquartered in Mountain View, California, eGain has operating presence in North America, EMEA and APAC. To learn more about us, visit www.eGain.com or call our offices: +1-800-821-4358 (US), +44-(0)-1753-464646 (EMEA), or +91-(0)-20-6608-9200 (APAC). Also, follow us on Twitter (http://twitter.com/egain) and Facebook (http://facebook.com/egain).
Contact:
eGain media contact:
Jennifer Manning
Cohesive Communications
Phone: +44 (0)1291 626200
Email: egain@cohesive.uk.com
EGAN is trading a little sloppy today. The price range is $1.60 to $2.30.
No, I don't have a position in EGAN.
I have no idea. I'm not watching that closely now.
Mike, got in a couple weeks ago....what kind of numbers do you think will see monday.
TIA
eGain to Announce Second Quarter Fiscal 2011 Financial Results
Teleconference Scheduled for Monday, February 7, 2011
On Wednesday January 26, 2011, 5:05 pm EST
MOUNTAIN VIEW, CA--(Marketwire - 01/26/11) - eGain Communications Corporation (OTC.BB:EGAN - News), a leading provider of customer service and contact center software for in-house or on-demand deployment, today announced that it will conduct a conference call at 5:00 p.m. EST on Monday, February 7, 2011 to discuss its second quarter fiscal 2011 results, which will be released after market close on that day.
This call will be webcast on the Investor Relations section of eGain's web site at www.egain.com. A replay will be made available for a period of one week following the call on the company's Investor Relations web site or by dialing (703) 925-2533 (international) or (888) 266-2081 (domestic) with ID #1511111
About eGain
eGain (OTC.BB:EGAN - News) is a leading provider of customer service and contact center software for in-house or on-demand deployment. Trusted by prominent enterprises worldwide, eGain has been helping businesses achieve and sustain customer service excellence for more than a decade.
To find out more about eGain, visit www.eGain.com or call the company's offices: 800-821-4358 (United States), 1753-464646 (UK and Continental Europe).
Note: eGain is a registered trademark, and the other eGain product and service names appearing in this release are trademarks or service marks, of eGain Communications Corp. All other company names and products are trademarks or registered trademarks of their respective companies.
Contact:
eGain Communications:
Jamie Abayan
Phone: 650-230-7532
Email: pr@egain.com
CCG Investor Relations:
Kalle Ahl, CFA
Account Manager
Phone: 646-833-3417
Email: kalle.ahl@ccgir.com
eGain to Present at the 13th Annual Needham Growth Conference on January 12, 2011
On Tuesday January 4, 2011, 9:25 am EST
MOUNTAIN VIEW, CA--(Marketwire - 01/04/11) - eGain Communications Corporation (OTC.BB:EGAN - News), a leading provider of customer service and contact center software for in-house or on-demand deployment, today announced that it will participate in the 13th Annual Needham Growth Conference to be held on January 11-13, at the New York Palace Hotel in New York City. Ashutosh Roy, eGain's Chairman and Chief Executive Officer, will present an overview of the Company's business and growth strategy on Wednesday, January 12, 2011 at 5:30 p.m. EST.
A live audio webcast and presentation material will be available on the Investor Relations section of eGain's website at www.egain.com. A replay of the webcast will be made available for 7 days following the event.
Mr. Roy will be available for one-on-one meetings with investors throughout the conference. Please contact your respective institutional sales representative for further details.
About eGain
eGain (OTC.BB:EGAN - News) is a leading provider of customer service and contact center software for in-house or on-demand deployment. Trusted by prominent enterprises worldwide, eGain has been helping businesses achieve and sustain customer service excellence for more than a decade.
To find out more about eGain, visit www.eGain.com or call the company's offices: 800-821-4358 (United States), 1753-464646 (UK and Continental Europe).
Note: eGain is a registered trademark, and the other eGain product and service names appearing in this release are trademarks or service marks, of eGain Communications Corp. All other company names and products are trademarks or registered trademarks of their respective companies.
Contact:
eGain Investor Relations:
Eric Smit
CFO
Phone: 650-230-7500
Email: iregain@egain.com
CCG Investor Relations:
Kalle Ahl
CFA
Account Manager
Phone: 646-833-3417
Email: kalle.ahl@ccgir.com
eGain Introduces All-In-One Search for Radically Better Customer Self-Service Experience and Contact Center Productivity
eGain(R) Multisearch(TM) Technology Combines Federated Search, Multi-Access Navigation, and Multi-Process Expertise Behind Simple Search Box
On Tuesday December 7, 2010, 7:45 am EST
MOUNTAIN VIEW, CA--(Marketwire - 12/07/10) - eGain (OTC.BB:EGAN - News), the leading provider of cloud and on-site customer interaction hub software, today announced the immediate availability of eGain Multisearch, a unique, all-in-one search technology for web self-service and the multichannel contact center. Embedded in the eGain SelfService™ and eGain KnowledgeAgent™ products, eGain Multisearch delivers unprecedented ease of navigation, superior content findability, and result relevance, while improving contact center productivity and best-practice compliance. With this innovative capability, eGain SelfService and eGain KnowledgeAgent become the most comprehensive solutions in the industry for customer service knowledge management.
Key capabilities of eGain Multisearch include:
Multi-access behind a simple search box: eGain Multisearch puts the combined power of the industry's broadest set of knowledge access methods -- keyword, metadata, natural language and intent-based search, question-matched search, and CBR-guided help (Case-Based Reasoning) -- behind a simple search box. The multifaceted, multi-path, blended navigation for answers helps reduce unproductive searches. Where the advanced version of eGain SelfService is implemented, search with a virtual assistant interface is also included as a seamless option.
Multi-sourced content: To further increase findability of answers, eGain Multisearch seamlessly federates and presents search results across website, contact center, enterprise, community, and social content.
Multichannel consistency: The underlying multichannel customer interaction hub platform, eGain OpenCIH™, ensures that contact center portion of the federated content is consistent across customer interaction channels.
Multi-role access: Access to search methods can be controlled by role or user. For instance, agents that are new or work in highly regulated industries can be made to follow a consistent, compliant search and interactive process.
Multi-process expertise: Today's contact center agents are expected to handle process-intensive customer queries such as product selection, diagnostics and resolution, contextual cross-sell and up-sell, providing sales quotes, etc. in a way that is compliant with industry regulations and best practices.
"Knowledgebase self-service for customers and contact center agents is an essential component of any best-practice customer service framework," said Johan Jacobs, Research Director at Gartner. "Multiple search methods to find answers in an array of content sources such as corporate knowledge, agent knowledge, social knowledge, hosted community knowledge, partner knowledge and online public knowledge -- will improve the relevance of search responses dramatically."
"eGain Multisearch turbocharges the simple search box with intelligent navigation and sophisticated retrieval technologies," said Ashu Roy, Chairman and CEO for eGain. "Building on eGain's Knowledge Management success, it will further help relieve search burden for customers and agents alike."
Details of eGain Multisearch, eGain SelfService, and eGain KnowledgeAgent are available at:
* http://www.egain.com/products/search.asp
* http://www.egain.com/products/web_self-service.asp
* http://www.egain.com/products/knowledge_management.asp
About eGain
eGain (OTC.BB:EGAN - News) is the leading provider of cloud and on-site customer interaction hub software. For over a decade, hundreds of the world's largest companies have relied on eGain to transform their traditional call centers, help desks, and web customer service operations into multichannel customer interaction hubs (CIHs). Based on the Power of One™, the concept of one unified platform for multichannel customer interaction and knowledge management, eGain solutions improve customer experience, optimize service processes end to end, increase sales, and enhance contact center performance.
Headquartered in Mountain View, California, eGain has operating presence in North America, EMEA and APAC. To learn more about us, visit www.eGain.com or call our offices: +1-800-821-4358 (US), +44-(0)-1753-464646 (EMEA), or +91-(0)-20-6608-9200 (APAC). Also, follow us on Twitter at http://twitter.com/egain and Facebook at http://facebook.com/egain.
eGain, the eGain logo, and all other eGain product names and slogans are trademarks or registered trademarks of eGain Communications Corp. in the United States and/or other countries. All other company names and products mentioned in this release may be trademarks or registered trademarks of the respective companies.
Contact:
eGain media contacts
Jamie Abayan
eGain
650-230-7532
jabayan@egain.com
Kristin Miller
SS|PR
719-634-8292
kmiller@sspr.com
pm b/a looks to open higher
eGain Announces Financial Results for the First Fiscal Quarter Ended September 30, 2010
Increases Revenue Guidance for Fiscal Year 2011
On Tuesday November 9, 2010, 4:22 pm
MOUNTAIN VIEW, CA--(Marketwire - 11/09/10) - eGain Communications Corporation (OTC.BB:EGAN - News)
Quarter Highlights
-- Total revenue up 64% from the comparable year-ago quarter
-- License revenue up 277% from the comparable year-ago quarter
-- Recurring revenue up 12% from the comparable year-ago quarter
-- Net income of $4.8 million or $0.22 per share
eGain Communications Corporation (OTC.BB:EGAN - News), a leading provider of customer service and contact center software, today announced financial results for the first fiscal quarter ended September 30, 2010.
Total revenue for the first quarter of fiscal year 2011 was $13.1 million, an increase of 64% from the comparable year-ago quarter. License revenue for the first quarter of fiscal year 2011 was $7.4 million, an increase of 277% from the comparable year-ago quarter. Recurring services revenue for the first quarter of fiscal year 2011 was $4.5 million, an increase of 12% from the comparable year-ago quarter. Professional services revenue for the first quarter of fiscal year 2011 was $1.3 million, a decrease of 37% from the comparable year-ago quarter.
Gross margin for the first quarter of fiscal year 2011 was 81%, compared to 68% in the comparable year-ago quarter. Total operating costs and expenses for the first quarter of fiscal year 2011 were $5.7 million, an increase of 31% from the comparable year-ago quarter.
Net income for the first quarter of fiscal year 2011 was $4.8 million, or $0.22 per share on a basic and diluted basis, compared to a net income of $787,000, or $0.04 per share on a basic and diluted basis for the comparable year-ago quarter. Net income for the first quarter of fiscal year 2011 included stock-based compensation of $54,000 and interest and tax expense of $315,000, compared to stock-based compensation expense of $55,000 and interest expense of $277,000 from the comparable year-ago quarter.
Total cash and cash equivalents were $4.8 million at September 30, 2010, compared to $5.7 million at June 30, 2010. Net accounts receivable was $10.0 million at September 30, 2010, compared to $3.0 million at June 30, 2010. Days sales outstanding in receivables for the quarter ended September 30, 2010 were 70 days, compared to 52 days for the comparable year-ago quarter. Deferred revenues totaled $5.9 million at September 30, 2010, compared to $5.1 million at June 30, 2010.
New hosting and license bookings for the first quarter of fiscal year 2011 were $8.2 million, an increase of 95% from the comparable year-ago quarter. Of the total new hosting and license bookings in the first quarter of fiscal year 2011, 12% were from new hosting bookings and 88% were from new license bookings, compared to 47% from new hosting bookings and 53% from new license bookings in the comparable year-ago quarter.
"Our record top line growth was primarily due to a license transaction with one of the largest telecommunication providers in the world," said Ashu Roy, eGain CEO. "We see this as a landmark deal in our growing success in the global telecommunications vertical. We remain optimistic about our prospects for fiscal year 2011. We see growing market interest in our recently launched products. In response, we are increasing our investment in direct sales and partner development."
Business Highlights
-- eGain was once again positioned in the Leaders Quadrant by Gartner,
Inc. in the "Magic Quadrant for Web Customer Service" report released
in September 2010. eGain attained this recognition for the third year
in a row.
-- eGain Social was named by KM World magazine as a Trendsetting Product
for 2010.
-- eGain expanded its social customer experience management suite. eGain
Social Experience Suite includes the capability to create and manage
online support communities, a social-blended agent desktop, integration
with Facebook®, Twitter® and web search, and an innovative
single-sourced knowledge publishing capability for proactive social
engagement.
-- eGain Knowledge 10 received Oracle Validated Integration with Oracle's
Siebel Customer Relationship Management, Release 8.1 through the Oracle
PartnerNetwork. eGain Knowledge 10 achieved SAP certification, as
powered by the SAP NetWeaver® technology platform. The solution is
now integrated with the SAP® Customer Relationship Management
application 7.0.
-- eGain announced seven new partners in North America: Cameo Solutions,
CDW, INX, Nexus, Presidio, Universal E-Business Solutions, and
VoiceRite. These providers will partner with eGain to deliver
multichannel customer interaction management solutions to mid-sized
businesses.
-- eGain announced Customer Xs as a partner to deliver multichannel
customer service and knowledge management solutions in the Benelux
region. The appointment of Customer Xs follows partnerships with
SCHOLAND & BEILING Partner for German-speaking countries and Novabase
for Iberian markets.
Guidance
We are raising our revenue guidance for fiscal year 2011. For fiscal year 2011 we currently expect an increase in total revenue of between 20% and 25% when compared to fiscal year 2010. In addition, we currently expect to generate positive cash flows from operations in fiscal year 2011, while planning to invest a significant portion of our anticipated top-line growth back into growing our distribution capability.
We define New Hosting and License Bookings as new contractual commitments (excluding renewals) received by the company for the purchase of product licenses and hosting services. Such contracts are not cancelable for convenience but may be subject to termination by our customers for cause or breach of contract by us. Furthermore, because we offer a hybrid delivery model, the mix of new license and hosting business in a quarter could also have an impact on our revenue in a particular quarter. Due to effects that these trends have on our short-term revenue and profitability, we believe that it is useful to disclose New Hosting and License Bookings detail in this and future financial releases. We use this metric internally to focus management on the productivity of the sales team and period-to-period changes in our core business. Therefore, we believe that this information is meaningful and helpful in allowing individuals to better assess the ongoing nature of our core operations.
About eGain Communications Corporation
eGain (OTC.BB:EGAN - News) is the leading provider of cloud and on-site customer interaction hub software. For over a decade, hundreds of the world's largest companies have relied on eGain to transform their traditional call centers, help desks, and web customer service operations into multichannel customer interaction hubs (CIHs). Based on the Power of One™, the concept of one unified platform for multichannel customer interaction and knowledge management, eGain solutions improve customer experience, optimize service processes end to end, increase sales, and enhance contact center performance.
Headquartered in Mountain View, California, eGain has operating presence in North America, EMEA and APAC. To learn more about us, visit www.eGain.com or call our offices: +1-800-821-4358 (US), +44-(0)-1753-464646 (EMEA), or +91-(0)-20-6608-9200 (APAC). Also, follow us on Twitter at http://twitter.com/egain and Facebook at http://facebook.com/egain.
Cautionary Note Regarding Forward-Looking Statements
All statements in this release that involve eGain's forecasts (including the above stated guidance), beliefs, projections, expectations, including but not limited to our financial performance, are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on information available to eGain at the time of this release, are not guarantees of future results; rather, they are subject to risks and uncertainties that may cause actual results to differ materially from those set forth in this release. These risks include, but are not limited to, the uncertainty of demand for eGain products, including our guidance regarding bookings and revenue; our expectations related to our operations; our ability to invest resources to improve our products and continue to innovate; our partnerships; our future markets; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K filed on September 23, 2010, and the Company's quarterly reports on Form 10-Q. eGain assumes no obligation to update these forward-looking statements.
Note: eGain is a registered trademark, and the other eGain product and service names appearing in this release are trademarks or service marks, of eGain Communications Corp. All other company names and products are trademarks or registered trademarks of their respective companies.
eGain Communications Corporation
Consolidated Balance Sheets
(in thousands)
(unaudited)
September 30, June 30,
2010 2010
----------- -----------
ASSETS
Current assets:
Cash and cash equivalents $ 4,818 $ 5,733
Restricted cash 13 13
Accounts receivable, net 10,000 2,955
Prepaid and other current assets 516 512
----------- -----------
Total current assets 15,347 9,213
Property and equipment, net 968 869
Goodwill, net 4,880 4,880
Other assets 374 354
----------- -----------
Total assets $ 21,569 $ 15,316
=========== ===========
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable $ 1,155 $ 1,146
Accrued compensation 2,731 1,987
Accrued liabilities 1,506 1,946
Current portion of deferred revenue 5,769 4,917
Current portion of capital lease obligation 113 157
Current portion of bank borrowings 83 115
----------- -----------
Total current liabilities 11,357 10,268
Deferred revenue, net of current portion 167 186
Capital lease obligation, net of current portion 28 28
Related party notes payable 8,998 8,724
Other long term liabilities 277 273
----------- -----------
Total liabilities 20,827 19,479
----------- -----------
Stockholders' (deficit) equity:
Common stock 22 22
Additional paid-in capital 323,748 323,700
Notes receivable from stockholders (80) (79)
Accumulated other comprehensive loss (584) (596)
Accumulated deficit (322,364) (327,210)
----------- -----------
Total stockholders' (deficit) equity 742 (4,163)
----------- -----------
Total liabilities and stockholders' (deficit)
equity $ 21,569 $ 15,316
=========== ===========
eGain Communications Corporation
Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
Three Months Ended
September 30,
----------------
2010 2009
------- -------
Revenue:
License $ 7,360 $ 1,954
Recurring services 4,450 3,984
Professional services 1,276 2,037
------- -------
Total revenue 13,086 7,975
Cost of license 14 68
Cost of recurring services 1,233 1,152
Cost of professional services 1,227 1,295
------- -------
Gross profit 10,612 5,460
Operating costs and expenses:
Research and development 1,414 1,170
Sales and marketing 3,514 2,434
General and administrative 804 786
------- -------
Total operating costs and expenses 5,732 4,390
------- -------
Income from operations 4,880 1,070
Interest expense, net (276) (277)
Other income (expense), net 281 (6)
------- -------
Income before income tax 4,885 787
Income tax benefit / (expense) (39) --
------- -------
Net Income $ 4,846 $ 787
======= =======
Per share information:
Basic net income per common share $ 0.22 $ 0.04
======= =======
Diluted net income per common share $ 0.22 $ 0.04
======= =======
Weighted average shares used in computing basic
net income per common share 22,124 22,213
======= =======
Weighted average shares used in computing diluted
net income per common share 22,392 22,221
======= =======
eGain Announces Financial Results for the First Fiscal Quarter Ended September
30, 2010
Increases Revenue Guidance for Fiscal Year 2011
MOUNTAIN VIEW, CA, Nov 09, 2010 (MARKETWIRE via COMTEX) -- eGain Communications
Corporation (EGAN)
Quarter Highlights
--Total revenue up 64% from the comparable year-ago quarter
--License revenue up 277% from the comparable year-ago quarter
--Recurring revenue up 12% from the comparable year-ago quarter
--Net income of $4.8 million or $0.22 per share
eGain Communications Corporation (EGAN), a leading provider of customer service
and contact center software, today announced financial results for the first
fiscal quarter ended September 30, 2010.
Total revenue for the first quarter of fiscal year 2011 was $13.1 million, an
increase of 64% from the comparable year-ago quarter. License revenue for the
first quarter of fiscal year 2011 was $7.4 million, an increase of 277% from the
comparable year-ago quarter. Recurring services revenue for the first quarter of
fiscal year 2011 was $4.5 million, an increase of 12% from the comparable
year-ago quarter. Professional services revenue for the first quarter of fiscal
year 2011 was $1.3 million, a decrease of 37% from the comparable year-ago
quarter.
Gross margin for the first quarter of fiscal year 2011 was 81%, compared to 68%
in the comparable year-ago quarter. Total operating costs and expenses for the
first quarter of fiscal year 2011 were $5.7 million, an increase of 31% from the
comparable year-ago quarter.
Net income for the first quarter of fiscal year 2011 was $4.8 million, or $0.22
per share on a basic and diluted basis, compared to a net income of $787,000, or
$0.04 per share on a basic and diluted basis for the comparable year-ago quarter.
Net income for the first quarter of fiscal year 2011 included stock-based
compensation of $54,000 and interest and tax expense of $315,000, compared to
stock-based compensation expense of $55,000 and interest expense of $277,000 from
the comparable year-ago quarter.
Total cash and cash equivalents were $4.8 million at September 30, 2010, compared
to $5.7 million at June 30, 2010. Net accounts receivable was $10.0 million at
September 30, 2010, compared to $3.0 million at June 30, 2010. Days sales
outstanding in receivables for the quarter ended September 30, 2010 were 70 days,
compared to 52 days for the comparable year-ago quarter. Deferred revenues
totaled $5.9 million at September 30, 2010, compared to $5.1 million at June 30,
2010.
New hosting and license bookings for the first quarter of fiscal year 2011 were
$8.2 million, an increase of 95% from the comparable year-ago quarter. Of the
total new hosting and license bookings in the first quarter of fiscal year 2011,
12% were from new hosting bookings and 88% were from new license bookings,
compared to 47% from new hosting bookings and 53% from new license bookings in
the comparable year-ago quarter.
"Our record top line growth was primarily due to a license transaction with one
of the largest telecommunication providers in the world," said Ashu Roy, eGain
CEO. "We see this as a landmark deal in our growing success in the global
telecommunications vertical. We remain optimistic about our prospects for fiscal
year 2011. We see growing market interest in our recently launched products. In
response, we are increasing our investment in direct sales and partner
development."
Business Highlights
--eGain was once again positioned in the Leaders Quadrant by Gartner,
Inc. in the "Magic Quadrant for Web Customer Service" report released
in September 2010. eGain attained this recognition for the third year
in a row.
--eGain Social was named by KM World magazine as a Trendsetting Product
for 2010.
--eGain expanded its social customer experience management suite. eGain
Social Experience Suite includes the capability to create and manage
online support communities, a social-blended agent desktop, integration
with Facebook(R), Twitter(R) and web search, and an innovative
single-sourced knowledge publishing capability for proactive social
engagement.
--eGain Knowledge 10 received Oracle Validated Integration with Oracle's
Siebel Customer Relationship Management, Release 8.1 through the Oracle
PartnerNetwork. eGain Knowledge 10 achieved SAP certification, as
powered by the SAP NetWeaver(R) technology platform. The solution is
now integrated with the SAP(R) Customer Relationship Management
application 7.0.
--eGain announced seven new partners in North America: Cameo Solutions,
CDW, INX, Nexus, Presidio, Universal E-Business Solutions, and
VoiceRite. These providers will partner with eGain to deliver
multichannel customer interaction management solutions to mid-sized
businesses.
--eGain announced Customer Xs as a partner to deliver multichannel
customer service and knowledge management solutions in the Benelux
region. The appointment of Customer Xs follows partnerships with
SCHOLAND & BEILING Partner for German-speaking countries and Novabase
for Iberian markets.
Guidance
We are raising our revenue guidance for fiscal year 2011. For fiscal year 2011 we
currently expect an increase in total revenue of between 20% and 25% when
compared to fiscal year 2010. In addition, we currently expect to generate
positive cash flows from operations in fiscal year 2011, while planning to invest
a significant portion of our anticipated top-line growth back into growing our
distribution capability.
We define New Hosting and License Bookings as new contractual commitments
(excluding renewals) received by the company for the purchase of product licenses
and hosting services. Such contracts are not cancelable for convenience but may
be subject to termination by our customers for cause or breach of contract by us.
Furthermore, because we offer a hybrid delivery model, the mix of new license and
hosting business in a quarter could also have an impact on our revenue in a
particular quarter. Due to effects that these trends have on our short-term
revenue and profitability, we believe that it is useful to disclose New Hosting
and License Bookings detail in this and future financial releases. We use this
metric internally to focus management on the productivity of the sales team and
period-to-period changes in our core business. Therefore, we believe that this
information is meaningful and helpful in allowing individuals to better assess
the ongoing nature of our core operations.
About eGain Communications Corporation
eGain (EGAN) is the leading provider of cloud and on-site customer interaction
hub software. For over a decade, hundreds of the world's largest companies have
relied on eGain to transform their traditional call centers, help desks, and web
customer service operations into multichannel customer interaction hubs (CIHs).
Based on the Power of One(TM), the concept of one unified platform for
multichannel customer interaction and knowledge management, eGain solutions
improve customer experience, optimize service processes end to end, increase
sales, and enhance contact center performance.
Headquartered in Mountain View, California, eGain has operating presence in North
America, EMEA and APAC. To learn more about us, visit http://www.eGain.com or
call our offices: +1-800-821-4358 (US), +44-(0)-1753-464646 (EMEA), or
+91-(0)-20-6608-9200 (APAC). Also, follow us on Twitter at
http://twitter.com/egain and Facebook at http://facebook.com/egain.
Cautionary Note Regarding Forward-Looking Statements
All statements in this release that involve eGain's forecasts (including the
above stated guidance), beliefs, projections, expectations, including but not
limited to our financial performance, are forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements, which are based on information
available to eGain at the time of this release, are not guarantees of future
results; rather, they are subject to risks and uncertainties that may cause
actual results to differ materially from those set forth in this release. These
risks include, but are not limited to, the uncertainty of demand for eGain
products, including our guidance regarding bookings and revenue; our expectations
related to our operations; our ability to invest resources to improve our
products and continue to innovate; our partnerships; our future markets; and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission, including the Company's annual report on Form
10-K filed on September 23, 2010, and the Company's quarterly reports on Form
10-Q. eGain assumes no obligation to update these forward-looking statements.
Note: eGain is a registered trademark, and the other eGain product and service
names appearing in this release are trademarks or service marks, of eGain
Communications Corp. All other company names and products are trademarks or
registered trademarks of their respective companies.
eGain Communications Corporation
Consolidated Balance Sheets
(in thousands)
(unaudited)
September 30,June 30,
20102010
----------------------
ASSETS
Current assets:
Cash and cash equivalents$4,818$5,733
Restricted cash1313
Accounts receivable, net10,0002,955
Prepaid and other current assets516512
----------------------
Total current assets15,3479,213
Property and equipment, net968869
Goodwill, net4,8804,880
Other assets374354
----------------------
Total assets$21,569$15,316
======================
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable$1,155$1,146
Accrued compensation2,7311,987
Accrued liabilities1,5061,946
Current portion of deferred revenue5,7694,917
Current portion of capital lease obligation113157
Current portion of bank borrowings83115
----------------------
Total current liabilities11,35710,268
Deferred revenue, net of current portion167186
Capital lease obligation, net of current portion2828
Related party notes payable8,9988,724
Other long term liabilities277273
----------------------
Total liabilities20,82719,479
----------------------
Stockholders' (deficit) equity:
Common stock2222
Additional paid-in capital323,748323,700
Notes receivable from stockholders(80)(79)
Accumulated other comprehensive loss(584)(596)
Accumulated deficit(322,364)(327,210)
----------------------
Total stockholders' (deficit) equity742(4,163)
----------------------
Total liabilities and stockholders' (deficit)
equity$21,569$15,316
======================
eGain Communications Corporation
Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
Three Months Ended
September 30,
----------------
20102009
--------------
Revenue:
License$ 7,360$ 1,954
Recurring services4,4503,984
Professional services1,2762,037
--------------
Total revenue13,0867,975
Cost of license1468
Cost of recurring services1,2331,152
Cost of professional services1,2271,295
--------------
Gross profit10,6125,460
Operating costs and expenses:
Research and development1,4141,170
Sales and marketing3,5142,434
General and administrative804786
--------------
Total operating costs and expenses5,7324,390
--------------
Income from operations4,8801,070
Interest expense, net(276)(277)
Other income (expense), net281(6)
--------------
Income before income tax4,885787
Income tax benefit / (expense)(39)--
--------------
Net Income$ 4,846$787
==============
Per share information:
Basic net income per common share$0.22$0.04
==============
Diluted net income per common share$0.22$0.04
==============
Weighted average shares used in computing basic
net income per common share22,12422,213
==============
Weighted average shares used in computing diluted
net income per common share22,39222,221
==============
Company Contact:
Jamie Abayan
650-230-7532
PR@eGain.com
Investor Contact:
IRegain@eGain.com
SOURCE: eGain Communications Corp.
mailto:PR@eGain.com
mailto:IRegain@eGain.com
Copyright 2010 Marketwire, Inc., All rights reserved.
EGAN preannounced what suggests will be a monster quarter to be reported on November 9, 2010. The stock may go ape crazy with that report.
http://finance.yahoo.com/news/eGain-Provides-Selected-iw-1638270781.html?x=0&.v=1
EGAN is hiring
http://www.egain.com/about_us/careers.asp
North America: Headquarters (Mountain View, California) and other offices
Product Design
Web Designer
Sales
Inside Sales Account Executive (Multiple Positions)
Sr. Inside Sales Account Executive
Sr. Sales Account Executive (Dallas, TX)
Sr. Sales Account Executive (Greater NY Metro Area – NY, NJ, CT)
Sr. Solutions Consultant (Sales Engineer) - (Chicago, IL)
EGAN is printing fresh 52 week highs as I type!
eGain Named to Software Magazine's 28th Annual Software 500
Software Magazine Ranks eGain as One of the World's Largest Software Companies for the Eighth Straight Year
On Wednesday October 13, 2010, 7:45 am EDT
MOUNTAIN VIEW, CA--(Marketwire - 10/13/10) - eGain (OTC.BB:EGAN - News), the leading provider of cloud and on-site customer interaction hub software, today announced its inclusion on Software Magazine's Software 500 ranking of the world's largest software and service providers, now in its 28th year. eGain advanced by 49 slots in 2010, compared to 2009.
"The 2010 Software 500 results show that revenue growth in the software and services industry was healthy, with total Software 500 revenue of $491.7 billion worldwide for 2009, representing virtually flat growth from the previous year," says John P. Desmond, editor of Software Magazine and Softwaremag.com.
"The Software 500 helps CIOs, senior IT managers and IT staff research and create the short list of business partners," Desmond says. "It is a quick reference of vendor viability. And the online version, to be posted soon at www.Softwaremag.com, is searchable by category, making it what we call the online catalog to enterprise software."
"The growing need for consistent customer experience across traditional, mobile and social media continues to reinforce the need for customer interaction hub software," said Ashu Roy, Chairman and CEO for eGain. "We are pleased to be in the Software 500 list for the eighth straight year."
The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing.
Some 47% percent of the 2010 Software 500 companies are privately held.
Go to www.Softwaremag.com and click on Subscribe to be among the first to see the 2010 Software 500. It is being released first in the digital publication, to be distributed in mid-September.
The ranking is based on total worldwide software and services revenue for 2009. This includes revenues from software licenses, maintenance and support, training and software-related services and consulting. Suppliers are not ranked on their total corporate revenue, since many have other lines of business, such as hardware. The financial information was gathered by a survey prepared by King Content Co. and posted at www.Softwaremag.com, as well as from public documents.
About Digital Software Magazine, the Software Decision Journal, and Softwaremag.com
Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
About eGain
eGain (OTC.BB:EGAN - News) is the leading provider of cloud and on-site customer interaction hub software. For over a decade, hundreds of the world's largest companies have relied on eGain to transform their traditional call centers, help desks, and web customer service operations into multichannel customer interaction hubs (CIHs). Based on the Power of One™, the concept of one unified platform for multichannel customer interaction and knowledge management, eGain solutions improve customer experience, optimize service processes end to end, increase sales, and enhance contact center performance.
Headquartered in Mountain View, California, eGain has operating presence in North America, EMEA and APAC. To learn more about us, visit www.eGain.com or call our offices: +1-800-821-4358 (US), +44-(0)-1753-464646 (EMEA), or +91-(0)-20-6608-9200 (APAC). Also, follow us on Twitter at http://twitter.com/egain and Facebook at http://facebook.com/egain.
Contact:
Software 500 Contact:
Tracy Kunichika
Software 500 Project Leader
Tracyk@softwaremag.com
eGain Contact:
Jamie Abayan
eGain
650 230 7450
jabayan@egain.com
Kristin Miller
SSPR
719-634-8292
kmiller@sspr.com
University of Cambridge International Examinations achieves outstanding eService results with eGain
Leading academic exam board handles increased demand for service by adding 24x7 web self-service to eGain-powered multichannel customer interaction hub
PRLog (Press Release) – Oct 07, 2010 – Slough, UK (7 October 2010): eGain (OTC BB: EGAN.OB), the leading provider of cloud and on-site customer interaction hub software, today announced that University of Cambridge International Examinations (CIE), the world’s largest provider of international qualifications for 14-19 year olds, successfully handled heavy demand for customer service during the August examination period through eGain-powered web self-service. CIE added eGain® SelfService™ to its eGain Mail™ deployment to set up a unified multichannel customer interaction hub. The addition of eGain SelfService provides expanded 24x7 service options for CIE’s global client base of schools, students, governments and universities, while reducing the burden on its customer service staff.
Helen O’Leary, Schools Support Manager at CIE said, "August is always a busy month for us with the announcement of examination results and new course options. This substantially increases the workload of our customer service staff. eGain SelfService has helped alleviate that pressure, allowing our customer service representatives to focus on more complex customer issues that truly require direct interactions with customers."
CIE has customers from 9000 schools across 160 countries. Customers who called or emailed the exam board’s customer service desk did so an average of 10 times a month in 2009. With eGain’s self-service solution in place, a large number of these queries are now deflected to the web. CIE customers are now able to find information online through dynamic FAQs, browse and search. Moreover, the solution suggests answers for customer self-service at the point of escalation to further deflect emails and calls. This has dramatically improved customer experience, while reducing customer service costs.
CIE has tightly integrated the eGain self service, email and knowledge software with its existing CRM systems to create a unified customer interaction hub with one common knowledge base and workflow engine. All content is now centralised and readily available across service channels, meaning CIE need only author knowledge once to reuse it everywhere. As a result, the organisation has seen improved consistency of cross-channel responses, and greatly reduced the cost and complexity of its knowledge creation.
"eGain has streamlined the customer service process across email, phone and web by unifying service operations on one customer interaction hub platform," commented O’ Leary. "This hub approach enables a 360 degree customer view, a unified and accurate knowledgebase, and service consistency across all channels."
Andrew Mennie, General Manager of eGain EMEA adds, "There is no room for inaccuracy in the academic world, and customer service operations should be no exception. This is a great example of how a unified customer service strategy can dramatically enhance service quality and customer satisfaction, while introducing contact centre efficiencies across an organisation."
About CIE
University of Cambridge International Examinations (CIE) is the world’s largest provider of international qualifications for 14–19 year olds. It is part of the University of Cambridge and a not-for-profit organisation.
CIE is committed to its mission of extending access to the benefits of high-quality education around the globe. Curricula and qualifications are designed to support high-quality educational performance, developing successful students and supporting the economic performance of countries where CIE works at national level.
About eGain
eGain (OTC BB: EGAN.OB) is the leading provider of cloud and on-site customer interaction hub software. For over a decade, hundreds of the world’s largest companies have relied on eGain to transform their traditional call centers, help desks, and web customer service operations into multichannel customer interaction hubs (CIHs). Based on the Power of One™, the concept of one unified platform for multichannel customer interaction and knowledge management, eGain solutions improve customer experience, optimize service processes end to end, increase sales, and enhance contact center performance.
Headquartered in Mountain View, California, eGain has operating presence in North America, EMEA and APAC. To learn more about us, visit www.eGain.com or call our offices: +1-800-821-4358 (US), +44-(0)-1753-464646 (EMEA), or +91-(0)-20-6608-9200 (APAC). Also, follow us on Twitter at http://twitter.com/egain and Facebook at http://facebook.com/egain.
eGain, the eGain logo, and all other eGain product names and slogans are trademarks or registered trademarks of eGain Communications Corp. in the United States and/or other countries. All other company names and products mentioned in this release may be trademarks or registered trademarks of the respective companies.
eGain media contact
Jamie Abayan
650-230-7532
jabayan@egain.com
# # #
About eGain
eGain (OTC BB: EGAN.OB) is the leading provider of cloud and on-site customer interaction hub software. For over a decade, hundreds of the world’s largest companies have relied on eGain to transform their traditional call centers, help desks, and web customer service operations into multichannel customer interaction hubs (CIHs). Based on the Power of One™, the concept of one unified platform for multichannel customer interaction and knowledge management, eGain solutions improve customer experience, optimize service processes end to end, increase sales, and enhance contact center performance.
Headquartered in Mountain View, California, eGain has operating presence in North America, EMEA and APAC. To learn more about us, visit www.eGain.com or call our offices: +1-800-821-4358 (US), +44-(0)-1753-464646 (EMEA), or +91-(0)-20-6608-9200 (APAC). Also, follow us on Twitter at http://twitter.com/egain and Facebook at http://facebook.com/egain.
http://www.prlog.org/10983492-university-of-cambridge-international-examinations-achieves-outstanding-eservice-results-with-egain.html
The EGAN PR this morning indicates fiscal Q1'11 (September quarter) earnings will be roughly $0.19/share. Those are monster earnings for a company that last traded at $1.22/share. Also, there was a comment in the 10-K that indicated that there are a number of large transactions that are expected to hit in fiscal 2011. The 10-K stated: “The decrease in fiscal year 2010 was primarily due to the length or unpredictable nature of our sales cycles resulting in the delay in the completion of a number of significant customer transactions until fiscal 2011.” Furthermore, I believe that the devaluation of the US dollar will help earnings going forward. I haven't had a chance to investigate exchange rate implications yet.
I usually don't predict prices. I wouldn't be shocked with $1.50 today. I think their are good chances that it goes much higher than that in the long term.
Mike how high do you think its heading? Im thinking of picking up some shares.If it can break that 1.40 zone it could have a multi day run. Thoughts?
eGain Provides Selected Preliminary Financial Results for the First Quarter of Fiscal Year 2011
On Wednesday October 6, 2010, 5:09 pm EDT
MOUNTAIN VIEW, CA--(Marketwire - 10/06/10) - eGain Communications Corporation (OTC.BB:EGAN - News), a leading provider of cloud and on-site customer interaction hub software, today announced preliminary financial results for the fiscal quarter ended September 30, 2010.
Q1 Fiscal Year 2011 Selected Preliminary Financial Results
* The company currently expects to report total revenue between $12.5 million and $13.0 million for the quarter ending September 30, 2010, an increase of 56% to 63% from the comparable year-ago quarter.
* The company currently expects to report new hosting and license bookings(1) of approximately $7.8 million, an increase of 83% from the comparable year-ago quarter.
* The company currently expects to report earnings from operations between $4.3 million and $4.8 million for the quarter ending September 30, 2010, compared to $1.1 million for the quarter ending September 30, 2009.
These results are based on preliminary information and are subject to change. The company plans to announce final first quarter results on November 9, 2010.
(1)We define New Hosting and License Bookings as new contractual commitments (excluding renewals) received by the company for the purchase of product licenses and hosting services. Such contracts are not cancelable for convenience but may be subject to termination by our customers for cause or breach of contract by us. Furthermore, because we offer a hybrid delivery model, the mix of new license and hosting business in a quarter could also have an impact on our revenue in a particular quarter. Due to effects that these trends have on our short-term revenue and profitability, we believe that it is useful to disclose New Hosting and License Bookings detail in this and future financial releases. We use this metric internally to focus management on the productivity of the sales team and period-to-period changes in our core business. Therefore, we believe that this information is meaningful and helpful in allowing individuals to better assess the ongoing nature of our core operations.
About eGain Communications Corporation
eGain (OTC.BB:EGAN - News) is the leading provider of cloud and on-site customer interaction hub software. For over a decade, hundreds of the world's largest companies have relied on eGain to transform their traditional call centers, help desks, and web customer service operations into multichannel customer interaction hubs (CIHs). Based on the Power of One™, the concept of one unified platform for multichannel customer interaction and knowledge management, eGain solutions improve customer experience, optimize service processes end to end, increase sales, and enhance contact center performance.
Headquartered in Mountain View, California, eGain has operating presence in North America, EMEA and APAC. To learn more about us, visit www.eGain.com or call our offices: +1-800-821-4358 (US), +44-(0)-1753-464646 (EMEA), or +91-(0)-20-6608-9200 (APAC). Also, follow us on Twitter at http://twitter.com/egain and Facebook at http://facebook.com/egain.
Cautionary Note Regarding Forward-Looking Statements
All statements in this release that involve eGain's forecasts (including the above stated guidance), beliefs, projections, expectations, including but not limited to our financial performance, are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on information available to eGain at the time of this release, are not guarantees of future results; rather, they are subject to risks and uncertainties that may cause actual results to differ materially from those set forth in this release. These risks include, but are not limited to, the uncertainty of demand for eGain products, including our guidance regarding bookings and revenue; our ability to invest resources to improve our products and continue to innovate; the anticipated customer benefits from our products; our partnership with Cisco; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K filed on September 23, 2010, and the Company's quarterly reports on Form 10-Q. eGain assumes no obligation to update these forward-looking statements.
Note: eGain is a registered trademark, and the other eGain product and service names appearing in this release are trademarks or service marks, of eGain Communications Corporation. All other company names and products are trademarks or registered trademarks of their respective companies.
Contact:
Company Contact:
Jamie Abayan
650-230-7532
PR@eGain.com
Investor Contact:
IRegain@eGain.com
/ CORRECTION - eGain Communications Corp.
May 12, 2009 7:14:00 PM
Email Story Discuss on ZenoBank
View Additional ProfilesMOUNTAIN VIEW, CA -- (MARKET WIRE) -- 05/12/09 -- In the news release, "eGain Announces Financial Results for the Third Fiscal Quarter Ended March 31, 2009," issued Thursday, May 7, 2009, by eGain Communications Corp. (OTCBB: EGAN), we are advised by the company that the second sentence in the last bullet point under "Customers and partners" should read "For the first nine months of fiscal year 2009, new hosting and license bookings through partners increased to 30% of new hosting and license bookings from 3% for the same period last year" rather than "For the first nine months of fiscal year 2009, revenue through partners increased to 30% of total revenue, from 3% for the same period last year" as originally issued. Complete corrected text follows.
eGain Announces Financial Results for the Third Fiscal Quarter Ended March 31, 2009
MOUNTAIN VIEW, CA -- May 7, 2009 -- eGain Communications Corporation (OTCBB: EGAN), a leading provider of customer service and contact center software, today announced financial results for the third fiscal quarter ended March 31, 2009.
Total revenue for the third quarter of fiscal year 2009 was $6.6 million, a decrease of 25% from the comparable year-ago quarter. Total revenue for the first nine months of fiscal year 2009 was $24.3 million, an increase of 4% from the same period last year.
Gross margin for the third quarter of fiscal year 2009 was 63% compared to 65% in the comparable year-ago quarter. Gross margin for the first nine months of fiscal year 2009 was 67% compared to 63% in the same period last year. Total operating costs and expenses for the third quarter of fiscal year 2009 were $4.1 million, a decrease of 18% from the comparable year-ago quarter. Total operating costs and expenses for the first nine months of fiscal year 2009 were $14.6 million, a decrease of 8% from the same period last year.
Net loss for the third quarter of fiscal year 2009 was $196,000, or $0.01 per share, compared to a net income of $542,000, or $0.04 basic net income per share or $0.03 diluted net income per share for the comparable year-ago quarter. Net loss for the third quarter of fiscal year 2009 included stock-based compensation of $50,000 and interest and tax expense of $356,000, compared to stock-based compensation expense of $114,000 and interest and tax expense of $421,000 for the comparable year-ago quarter.
Net income for the first nine months of fiscal year 2009 was $1.3 million, or $0.06 per share on a basic and diluted basis, compared to a net loss of $2.3 million, or $0.15 per share for the same period last year. Net income for the nine months included stock-based compensation of $222,000 and interest and tax expense of $1.1 million, compared to stock-based compensation expense of $241,000 and interest and tax expense of $1.3 million for the same period last year.
Total cash and cash equivalents were $5.5 million on March 31, 2009, compared to $4.0 million at March 31, 2008. Cash provided by operations was $2.0 million for the first nine months of fiscal year 2009, compared to cash used in operations of $1.8 million in the same period last year. Days sales outstanding in receivables for the quarter ended March 31, 2009 were 50 days, compared to 30 days for the comparable year-ago quarter. Deferred revenues totaled $5.6 million at March 31, 2009, up from $5.2 million at March 31, 2008.
eGain's results for the nine months ended March 31, 2009 were negatively impacted by the reduced value of foreign currencies when compared to U.S. dollars. If currency exchange rates had remained constant from June 30, 2008 (the last day of our prior fiscal year) through March 31, 2009, revenues for the first nine months of fiscal year 2009 would have been up approximately 20%, rather than up 4% when compared to the same period last year.
"New bookings did not meet our expectation even for a traditionally slow quarter," said Ashu Roy, eGain Chief Executive Officer. "Our enterprise-focused business model results in larger deals that can result in uneven bookings from quarter-to-quarter. Our team is balancing growth and profitability goals well in an uncertain economic environment. Through nine months of the current fiscal year, we are ahead of our profitability plan despite the negative impact of exchange rate fluctuations."
Business Highlights
New Hosting and License Bookings(1)
-- New hosting and license bookings for the third quarter of fiscal
year 2009 were $1.6 million, a decrease of 19% from the comparable
year-ago quarter. Of the total new hosting and license bookings in
the third quarter of fiscal year 2009, 55% was from new hosting
bookings and 45% was from new license bookings, compared to 42%
from new hosting bookings and 58% from new license bookings in the
comparable year-ago quarter. If currency exchange rates had
remained constant from June 30, 2008 (the last day of our prior
fiscal year) through March 31, 2009, bookings for the third quarter
of fiscal year 2009 would have been approximately 3%, rather than
down 19% when compared to the same period last year.
-- New hosting and license bookings for the first nine months of
fiscal year 2009 were $10.8 million, an increase of 34% from the
same period last year. Of the total new hosting and license
bookings in the fist nine months of fiscal year 2009, 30% was from
new hosting bookings and 70% was from new license bookings,
compared to 41% from new hosting bookings and 59% from new license
bookings in the same period last year. If currency exchange rates
had remained constant from June 30, 2008 through March 31, 2009,
bookings for the first nine months of fiscal year 2009 would have
been up approximately 53%, rather than up 34% when compared to the
same period last year.
Industry awards
-- eGain was rated a "Leader" in web interaction management and
"One to Watch" in web self-service from CRM magazine as part of the
publication's annual "Service Leader" awards. The selection was
based on a combination of measures that included revenue,
year-over-year growth, reputation in customer satisfaction, depth
of functionality, and company direction.
-- eGain was named to KMWorld's "100 Companies That Matter in
Knowledge Management" for the third consecutive year. The vendors
in the list are selected by knowledge management practitioners,
theorists, analysts, vendors and customers, and represents solution
providers that make the most impact in knowledge management.
Solutions
-- eGain introduced a unique "Solution-as-a-Service" offering called
"eGain SLaaS(TM)". It takes the benefits of the SaaS deployment
model to a new level by further reducing the risk of customer
adoption. "Solution-as-a-Service is a unique combination of
value-based pricing with hosted software and bundled services on
tap," said Johan Jacobs, Research Director at Gartner. "SLaaS has
the potential to transform enterprise software adoption in a tough
economic climate."
-- eGain received the "Knowledge-Centered Support (KCS) Verified"
certification by the Consortium for Service Innovation. KCS is a
methodology that enables customer support centers to maximize
efficiency and effectiveness by using proven best practices to
create and maintain knowledge bases. The certification was awarded
for eGain Knowledge(TM), eGain's pioneering solution for contact
center knowledge management.
Customers and partners
-- eGain signed up new blue-chip clients in the third quarter of
fiscal 2009 including:
- Argos, a part of Home Retail Group, the UK's leading home and
general merchandise retailer.
- NET-A-PORTER.COM, a premier luxury fashion retailer.
- One of the world's foremost nutrition companies.
-- Seven recently-acquired enterprise clients successfully went live
with their eGain implementation during the third quarter of fiscal
2009, using our proven best-practice driven implementation method.
The success of the initial implementation lays the foundation for
future expansion opportunities in these clients.
-- Our investment in partnerships is showing results. For the first
nine months of fiscal year 2009, new hosting and license bookings
through partners increased to 30% of new hosting and license
bookings from 3% for the same period last year.
Market and Business Outlook
Our innovative, award-winning Customer Interaction Hub software is proving to be a compelling proposition for global enterprises looking for proven solutions at an affordable price. We are also seeing increased traction in our partner network as we invest in recruiting and developing them to sell, service, and support eGain Service products.
We continue to systematically improve operating efficiency across all groups within eGain to realize ongoing savings, so we can invest in growth while maintaining profitability. We plan to maintain our current investment level in product development and modestly increase our investment in our partner channel.
Market demand in the Cisco client base resulting from our Cisco OEM partnership continues to be strong for a fully integrated multi-channel contact center platform. The final phase of the integrated product will be available to Cisco customers in the second half of this calendar year. We expect royalties from our Cisco partnership to provide increased revenues in fiscal year 2010.
(1) We define New Hosting and License Bookings as new contractual commitments (excluding renewals) received by the company for the purchase of product licenses and hosting services. Such contracts are not cancelable for convenience but may be subject to termination by our customers for cause or breach of contract by us. Furthermore, because we offer a hybrid delivery model, the mix of new license and hosting business in a quarter could also have an impact on our revenue in a particular quarter. Due to effects that these trends have on our short-term revenue and profitability, we believe that it is useful to disclose New Hosting and License Bookings detail in this and future financial releases. We use this metric internally to focus management on the productivity of the sales team and period-to-period changes in our core business. Therefore, we believe that this information is meaningful and helpful in allowing individuals to better assess the ongoing nature of our core operations.
About eGain Communications Corporation
eGain (OTCBB: EGAN) is a leading provider of multichannel customer service and knowledge management software for in-house or on-demand SaaS deployment. For more than a decade, several of the world's largest companies have relied on eGain to transform their traditional call centers, help desks, and web customer service operations into multichannel customer interaction hubs. Based on the Power of One(TM), the concept of one unified platform for multichannel customer interaction and knowledge management, these hubs enable dramatically improved customer experience, contact center agent productivity, service process efficiencies, sales, and overall contact center performance. To find out more about eGain, visit www.eGain.com or call the company's offices: 800-821-4358 (US headquarters), 1753-464646 (UK and Continental Europe).
Cautionary Note Regarding Forward-looking Statements
All statements in this release that involve eGain's plans, forecasts (including the above stated guidance), beliefs, projections, expectations, strategies and intentions, including but not limited to our enterprise-focused business model's effect on our bookings, our Cisco OEM partnership, our investment in global customer care infrastructure, our projected growth and our targeted customer growth, our management of our business, goals, implementation methods and investments, and the mix of our business on our revenues are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on information available to eGain at the time of this release, are not guarantees of future results; rather, they are subject to risks and uncertainties that may cause actual results to differ materially from those set forth in this release. These risks include, but are not limited to, the uncertainty of demand for eGain products, including our guidance regarding bookings and revenue; the actual mix in new business between hosting and license transactions when compared with management's projections; volatility of the value of certain currencies in relation to the US dollar, particularly the U.K. pound, Indian rupee and Euro; the increased complexity of certain transactions and the timing of revenue recognition on such transactions; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K filed on September 29, 2008, and the Company's quarterly reports on Form 10-Q. eGain assumes no obligation to update these forward-looking statements.
Note: eGain is a registered trademark, and the other eGain product and service names appearing in this release are trademarks or service marks, of eGain Communications Corporation. All other company names and products are trademarks or registered trademarks of their respective companies.
eGain Communications Corporation
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
March 31, June 30,
2009 2008
----------- -----------
ASSETS
Current assets:
Cash and cash equivalents $ 5,513 $ 3,790
Restricted cash 13 13
Accounts receivable, net 3,691 2,749
Prepaid and other current assets 463 818
----------- -----------
Total current assets 9,680 7,370
Property and equipment, net 773 1,230
Goodwill, net 4,880 4,880
Other assets 397 434
----------- -----------
Total assets $ 15,730 $ 13,914
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 1,001 $ 1,669
Accrued compensation 1,671 1,712
Accrued liabilities 1,523 1,632
Deferred revenue 5,397 4,871
Current portion of capital lease obligation 38 52
Current portion of bank borrowings 125 100
----------- -----------
Total current liabilities 9,755 10,036
Deferred revenue, net of current portion 208 293
Capital lease obligation, net of current portion 25 78
Related party notes payable 7,458 13,283
Bank borrowings, net of current portion 3,146 3,192
Other long term liabilities 270 321
----------- -----------
Total liabilities 20,862 27,203
Stockholders' deficit:
Common stock $ 22 $ 15
Additional paid-in capital 323,531 316,527
Notes receivable from stockholders (76) (74)
Accumulated other comprehensive loss (597) (494)
Accumulated deficit (328,012) (329,263)
----------- -----------
Total stockholders' deficit (5,132) (13,289)
----------- -----------
$ 15,730 $ 13,914
=========== ===========
eGain Communications Corporation
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
------------------ ------------------
2009 2008 2009 2008
-------- -------- -------- --------
Revenue:
License $ 463 $ 2,234 $ 5,591 $ 5,849
Support and services 6,118 6,585 18,718 17,566
-------- -------- -------- --------
Total revenue 6,581 8,819 24,309 23,415
Cost of license 16 20 54 60
Cost of support and services 2,440 3,087 7,860 8,682
-------- -------- -------- --------
Gross profit 4,125 5,712 16,395 14,673
Operating costs and expenses:
Research and development 1,378 1,266 4,303 3,665
Sales and marketing 2,101 2,763 7,734 8,904
General and administrative 616 942 2,536 3,328
-------- -------- -------- --------
Total operating costs and
expenses 4,095 4,971 14,573 15,897
Income / (Loss) from operations 30 741 1,822 (1,224)
Interest expense, net (318) (421) (1,138) (1,227)
Other income (expense), net 130 222 495 257
-------- -------- -------- --------
Income / (Loss) before income tax (158) 542 1,179 (2,194)
Income tax benefit / (expense), net (38) -- 72 (96)
-------- -------- -------- --------
Net Income / (Loss) $ (196) $ 542 $ 1,251 $ (2,290)
======== ======== ======== ========
Per share information:
Basic net income / (loss) per
common share $ (0.01) $ 0.04 $ 0.06 $ (0.15)
======== ======== ======== ========
Diluted net income / (loss) per
common share $ (0.01) $ 0.03 $ 0.06 $ (0.15)
======== ======== ======== ========
Weighted average shares used in
computing basic net income /
(loss) per common share 22,213 15,333 20,079 15,330
======== ======== ======== ========
Weighted average shares used in
computing diluted net income /
(loss) per common share 22,213 15,514 20,080 15,330
======== ======== ======== ========
eGain Communications Corporation
Supplemental Financial Information
(in thousands)
(unaudited)
Three Months Ended
March 31,
-------------------------------
%Increase
%Increase (Decrease)
% of % of (Decrease) in Constant
2009 revenue 2008 revenue in US $ Currency(1)
------- -------
Total revenue $ 6,581 100% $ 8,819 100% -25% -15%
Gross profit 4,125 63% 5,712 65% -28% -21%
Total operating
costs and expenses 4,095 62% 4,971 56% -18% -9%
Income from
operations 30 0% 741 8% -96% -98%
Net Income / (loss) $ (196) -3% $ 542 6% NM* NM
Nine Months Ended
March 31,
-------------------------------
%Increase
%Increase (Decrease)
% of % of (Decrease) in Constant
2009 revenue 2008 revenue in US $ Currency(1)
------- -------
Total revenue $24,309 100% $23,415 100% 4% 20%
Gross profit 16,395 67% 14,673 63% 12% 24%
Total operating
costs and expenses 14,573 60% 15,897 68% -8% -2%
Income from
operations 1,822 7% (1,224) -5% NM NM
Net Income / (loss) $ 1,251 5% $(2,290) -10% NM NM
(1) We compare the percent change in the results from one period to another
period using constant currency disclosure. We present constant currency
information to provide a framework for assessing how our underlying
business performed excluding the effect of foreign currency rate
fluctuations. To present this information, current and comparative
prior period results for entities reporting in currencies other than
United States dollars are converted into United States dollars at the
exchange rate in effect June 30, 2008, which was the last day of our
prior fiscal year, rather than the actual exchange rates in effect
during the respective periods
* NM - Not Meaningful
Company Contact:
Jamie Abayan
650-230-7532
PR@eGain.com
Investor Contact:
IRegain@eGain.com
eGain Announces Financial Results for the Third Fiscal Quarter Ended March 31, 2009
May 7, 2009 4:21:00 PM
Email Story Discuss on ZenoBank
View Additional ProfilesMOUNTAIN VIEW, CA -- (MARKET WIRE) -- 05/07/09 -- eGain Communications Corporation (OTCBB: EGAN), a leading provider of customer service and contact center software, today announced financial results for the third fiscal quarter ended March 31, 2009.
Total revenue for the third quarter of fiscal year 2009 was $6.6 million, a decrease of 25% from the comparable year-ago quarter. Total revenue for the first nine months of fiscal year 2009 was $24.3 million, an increase of 4% from the same period last year.
Gross margin for the third quarter of fiscal year 2009 was 63% compared to 65% in the comparable year-ago quarter. Gross margin for the first nine months of fiscal year 2009 was 67% compared to 63% in the same period last year. Total operating costs and expenses for the third quarter of fiscal year 2009 were $4.1 million, a decrease of 18% from the comparable year-ago quarter. Total operating costs and expenses for the first nine months of fiscal year 2009 were $14.6 million, a decrease of 8% from the same period last year.
Net loss for the third quarter of fiscal year 2009 was $196,000, or $0.01 per share, compared to a net income of $542,000, or $0.04 basic net income per share or $0.03 diluted net income per share for the comparable year-ago quarter. Net loss for the third quarter of fiscal year 2009 included stock-based compensation of $50,000 and interest and tax expense of $356,000, compared to stock-based compensation expense of $114,000 and interest and tax expense of $421,000 for the comparable year-ago quarter.
Net income for the first nine months of fiscal year 2009 was $1.3 million, or $0.06 per share on a basic and diluted basis, compared to a net loss of $2.3 million, or $0.15 per share for the same period last year. Net income for the nine months included stock-based compensation of $222,000 and interest and tax expense of $1.1 million, compared to stock-based compensation expense of $241,000 and interest and tax expense of $1.3 million for the same period last year.
Total cash and cash equivalents were $5.5 million on March 31, 2009, compared to $4.0 million at March 31, 2008. Cash provided by operations was $2.0 million for the first nine months of fiscal year 2009, compared to cash used in operations of $1.8 million in the same period last year. Days sales outstanding in receivables for the quarter ended March 31, 2009 were 50 days, compared to 30 days for the comparable year-ago quarter. Deferred revenues totaled $5.6 million at March 31, 2009, up from $5.2 million at March 31, 2008.
eGain's results for the nine months ended March 31, 2009 were negatively impacted by the reduced value of foreign currencies when compared to U.S. dollars. If currency exchange rates had remained constant from June 30, 2008 (the last day of our prior fiscal year) through March 31, 2009, revenues for the first nine months of fiscal year 2009 would have been up approximately 20%, rather than up 4% when compared to the same period last year.
"New bookings did not meet our expectation even for a traditionally slow quarter," said Ashu Roy, eGain Chief Executive Officer. "Our enterprise-focused business model results in larger deals that can result in uneven bookings from quarter-to-quarter. Our team is balancing growth and profitability goals well in an uncertain economic environment. Through nine months of the current fiscal year, we are ahead of our profitability plan despite the negative impact of exchange rate fluctuations."
Business Highlights
New Hosting and License Bookings(1)
-- New hosting and license bookings for the third quarter of fiscal
year 2009 were $1.6 million, a decrease of 19% from the comparable
year-ago quarter. Of the total new hosting and license bookings in
the third quarter of fiscal year 2009, 55% was from new hosting
bookings and 45% was from new license bookings, compared to 42%
from new hosting bookings and 58% from new license bookings in the
comparable year-ago quarter. If currency exchange rates had
remained constant from June 30, 2008 (the last day of our prior
fiscal year) through March 31, 2009, bookings for the third quarter
of fiscal year 2009 would have been approximately 3%, rather than
down 19% when compared to the same period last year.
-- New hosting and license bookings for the first nine months of
fiscal year 2009 were $10.8 million, an increase of 34% from the
same period last year. Of the total new hosting and license
bookings in the fist nine months of fiscal year 2009, 30% was from
new hosting bookings and 70% was from new license bookings,
compared to 41% from new hosting bookings and 59% from new license
bookings in the same period last year. If currency exchange rates
had remained constant from June 30, 2008 through March 31, 2009,
bookings for the first nine months of fiscal year 2009 would have
been up approximately 53%, rather than up 34% when compared to the
same period last year.
Industry awards
-- eGain was rated a "Leader" in web interaction management and
"One to Watch" in web self-service from CRM magazine as part of the
publication's annual "Service Leader" awards. The selection was
based on a combination of measures that included revenue,
year-over-year growth, reputation in customer satisfaction, depth
of functionality, and company direction.
-- eGain was named to KMWorld's "100 Companies That Matter in
Knowledge Management" for the third consecutive year. The vendors
in the list are selected by knowledge management practitioners,
theorists, analysts, vendors and customers, and represents solution
providers that make the most impact in knowledge management.
Solutions
-- eGain introduced a unique "Solution-as-a-Service" offering called
"eGain SLaaS(TM)". It takes the benefits of the SaaS deployment
model to a new level by further reducing the risk of customer
adoption. "Solution-as-a-Service is a unique combination of
value-based pricing with hosted software and bundled services on
tap," said Johan Jacobs, Research Director at Gartner. "SLaaS has
the potential to transform enterprise software adoption in a tough
economic climate."
-- eGain received the "Knowledge-Centered Support (KCS) Verified"
certification by the Consortium for Service Innovation. KCS is a
methodology that enables customer support centers to maximize
efficiency and effectiveness by using proven best practices to
create and maintain knowledge bases. The certification was awarded
for eGain Knowledge(TM), eGain's pioneering solution for contact
center knowledge management.
Customers and partners
-- eGain signed up new blue-chip clients in the third quarter of
fiscal 2009 including:
- Argos, a part of Home Retail Group, the UK's leading home and
general merchandise retailer.
- NET-A-PORTER.COM, a premier luxury fashion retailer.
- One of the world's foremost nutrition companies.
-- Seven recently-acquired enterprise clients successfully went live
with their eGain implementation during the third quarter of fiscal
2009, using our proven best-practice driven implementation method.
The success of the initial implementation lays the foundation for
future expansion opportunities in these clients.
-- Our investment in partnerships is showing results. For the first
nine months of fiscal year 2009, revenue through partners increased
to 30% of total revenue, from 3% for the same period last year.
Market and Business Outlook
Our innovative, award-winning Customer Interaction Hub software is proving to be a compelling proposition for global enterprises looking for proven solutions at an affordable price. We are also seeing increased traction in our partner network as we invest in recruiting and developing them to sell, service, and support eGain Service products.
We continue to systematically improve operating efficiency across all groups within eGain to realize ongoing savings, so we can invest in growth while maintaining profitability. We plan to maintain our current investment level in product development and modestly increase our investment in our partner channel.
Market demand in the Cisco client base resulting from our Cisco OEM partnership continues to be strong for a fully integrated multi-channel contact center platform. The final phase of the integrated product will be available to Cisco customers in the second half of this calendar year. We expect royalties from our Cisco partnership to provide increased revenues in fiscal year 2010.
(1) We define New Hosting and License Bookings as new contractual commitments (excluding renewals) received by the company for the purchase of product licenses and hosting services. Such contracts are not cancelable for convenience but may be subject to termination by our customers for cause or breach of contract by us. Furthermore, because we offer a hybrid delivery model, the mix of new license and hosting business in a quarter could also have an impact on our revenue in a particular quarter. Due to effects that these trends have on our short-term revenue and profitability, we believe that it is useful to disclose New Hosting and License Bookings detail in this and future financial releases. We use this metric internally to focus management on the productivity of the sales team and period-to-period changes in our core business. Therefore, we believe that this information is meaningful and helpful in allowing individuals to better assess the ongoing nature of our core operations.
About eGain Communications Corporation
eGain (OTCBB: EGAN) is a leading provider of multichannel customer service and knowledge management software for in-house or on-demand SaaS deployment. For more than a decade, several of the world's largest companies have relied on eGain to transform their traditional call centers, help desks, and web customer service operations into multichannel customer interaction hubs. Based on the Power of One(TM), the concept of one unified platform for multichannel customer interaction and knowledge management, these hubs enable dramatically improved customer experience, contact center agent productivity, service process efficiencies, sales, and overall contact center performance. To find out more about eGain, visit www.eGain.com or call the company's offices: 800-821-4358 (US headquarters), 1753-464646 (UK and Continental Europe).
Cautionary Note Regarding Forward-looking Statements
All statements in this release that involve eGain's plans, forecasts (including the above stated guidance), beliefs, projections, expectations, strategies and intentions, including but not limited to our enterprise-focused business model's effect on our bookings, our Cisco OEM partnership, our investment in global customer care infrastructure, our projected growth and our targeted customer growth, our management of our business, goals, implementation methods and investments, and the mix of our business on our revenues are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on information available to eGain at the time of this release, are not guarantees of future results; rather, they are subject to risks and uncertainties that may cause actual results to differ materially from those set forth in this release. These risks include, but are not limited to, the uncertainty of demand for eGain products, including our guidance regarding bookings and revenue; the actual mix in new business between hosting and license transactions when compared with management's projections; volatility of the value of certain currencies in relation to the US dollar, particularly the U.K. pound, Indian rupee and Euro; the increased complexity of certain transactions and the timing of revenue recognition on such transactions; and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K filed on September 29, 2008, and the Company's quarterly reports on Form 10-Q. eGain assumes no obligation to update these forward-looking statements.
Note: eGain is a registered trademark, and the other eGain product and service names appearing in this release are trademarks or service marks, of eGain Communications Corporation. All other company names and products are trademarks or registered trademarks of their respective companies.
eGain Communications Corporation
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
March 31, June 30,
2009 2008
----------- -----------
ASSETS
Current assets:
Cash and cash equivalents $ 5,513 $ 3,790
Restricted cash 13 13
Accounts receivable, net 3,691 2,749
Prepaid and other current assets 463 818
----------- -----------
Total current assets 9,680 7,370
Property and equipment, net 773 1,230
Goodwill, net 4,880 4,880
Other assets 397 434
----------- -----------
Total assets $ 15,730 $ 13,914
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 1,001 $ 1,669
Accrued compensation 1,671 1,712
Accrued liabilities 1,523 1,632
Deferred revenue 5,397 4,871
Current portion of capital lease obligation 38 52
Current portion of bank borrowings 125 100
----------- -----------
Total current liabilities 9,755 10,036
Deferred revenue, net of current portion 208 293
Capital lease obligation, net of current portion 25 78
Related party notes payable 7,458 13,283
Bank borrowings, net of current portion 3,146 3,192
Other long term liabilities 270 321
----------- -----------
Total liabilities 20,862 27,203
Stockholders' deficit:
Common stock $ 22 $ 15
Additional paid-in capital 323,531 316,527
Notes receivable from stockholders (76) (74)
Accumulated other comprehensive loss (597) (494)
Accumulated deficit (328,012) (329,263)
----------- -----------
Total stockholders' deficit (5,132) (13,289)
----------- -----------
$ 15,730 $ 13,914
=========== ===========
eGain Communications Corporation
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
Three Months Ended Nine Months Ended
March 31, March 31,
------------------ ------------------
2009 2008 2009 2008
-------- -------- -------- --------
Revenue:
License $ 463 $ 2,234 $ 5,591 $ 5,849
Support and services 6,118 6,585 18,718 17,566
-------- -------- -------- --------
Total revenue 6,581 8,819 24,309 23,415
Cost of license 16 20 54 60
Cost of support and services 2,440 3,087 7,860 8,682
-------- -------- -------- --------
Gross profit 4,125 5,712 16,395 14,673
Operating costs and expenses:
Research and development 1,378 1,266 4,303 3,665
Sales and marketing 2,101 2,763 7,734 8,904
General and administrative 616 942 2,536 3,328
-------- -------- -------- --------
Total operating costs and
expenses 4,095 4,971 14,573 15,897
Income / (Loss) from operations 30 741 1,822 (1,224)
Interest expense, net (318) (421) (1,138) (1,227)
Other income (expense), net 130 222 495 257
-------- -------- -------- --------
Income / (Loss) before income tax (158) 542 1,179 (2,194)
Income tax benefit / (expense), net (38) -- 72 (96)
-------- -------- -------- --------
Net Income / (Loss) $ (196) $ 542 $ 1,251 $ (2,290)
======== ======== ======== ========
Per share information:
Basic net income / (loss) per
common share $ (0.01) $ 0.04 $ 0.06 $ (0.15)
======== ======== ======== ========
Diluted net income / (loss) per
common share $ (0.01) $ 0.03 $ 0.06 $ (0.15)
======== ======== ======== ========
Weighted average shares used in
computing basic net income /
(loss) per common share 22,213 15,333 20,079 15,330
======== ======== ======== ========
Weighted average shares used in
computing diluted net income /
(loss) per common share 22,213 15,514 20,080 15,330
======== ======== ======== ========
eGain Communications Corporation
Supplemental Financial Information
(in thousands)
(unaudited)
Three Months Ended
March 31,
-------------------------------
%Increase
%Increase (Decrease)
% of % of (Decrease) in Constant
2009 revenue 2008 revenue in US $ Currency(1)
------- -------
Total revenue $ 6,581 100% $ 8,819 100% -25% -15%
Gross profit 4,125 63% 5,712 65% -28% -21%
Total operating
costs and expenses 4,095 62% 4,971 56% -18% -9%
Income from
operations 30 0% 741 8% -96% -98%
Net Income / (loss) $ (196) -3% $ 542 6% NM* NM
Nine Months Ended
March 31,
-------------------------------
%Increase
%Increase (Decrease)
% of % of (Decrease) in Constant
2009 revenue 2008 revenue in US $ Currency(1)
------- -------
Total revenue $24,309 100% $23,415 100% 4% 20%
Gross profit 16,395 67% 14,673 63% 12% 24%
Total operating
costs and expenses 14,573 60% 15,897 68% -8% -2%
Income from
operations 1,822 7% (1,224) -5% NM NM
Net Income / (loss) $ 1,251 5% $(2,290) -10% NM NM
(1) We compare the percent change in the results from one period to another
period using constant currency disclosure. We present constant currency
information to provide a framework for assessing how our underlying
business performed excluding the effect of foreign currency rate
fluctuations. To present this information, current and comparative
prior period results for entities reporting in currencies other than
United States dollars are converted into United States dollars at the
exchange rate in effect June 30, 2008, which was the last day of our
prior fiscal year, rather than the actual exchange rates in effect
during the respective periods
* NM - Not Meaningful
Company Contact:
Jamie Abayan
650-230-7532
PR@eGain.com
Investor Contact:
IRegain@eGain.com
eGain to Announce Third Quarter Fiscal 2009 Financial Results
Teleconference Scheduled for Thursday May 7, 2009
Apr 30, 2009 3:15:00 PM
Email Story Discuss on ZenoBank
View Additional ProfilesMOUNTAIN VIEW, CA -- (MARKET WIRE) -- 04/30/09 -- eGain Communications Corporation (OTCBB: EGAN), a provider of customer service and contact center software for in-house or on-demand deployment, will announce financial results for the third quarter ended March 31, 2009 on Thursday, May 7, 2009 after the close of market.
eGain management will host a conference call that day to discuss the results at 2:00 p.m. (Pacific) / 5:00 p.m. (Eastern).
This call will be webcast and can be accessed from the Investor Relations section of eGain's web site at www.egain.com. A replay will be made available for one week, following the call, on eGain's Investor Relations web site at the following number: (703) 925-2533 (international) or (888) 266-2081 (domestic) with ID #1357803.
About eGain
eGain (OTCBB: EGAN) is a leading provider of customer service and contact center software for in-house or on-demand deployment. Trusted by prominent enterprises worldwide, eGain has been helping businesses achieve and sustain customer service excellence for more than a decade.
To find out more about eGain, visit www.eGain.com or call the company's offices: 800-821-4358 (United States), 1753-464646 (UK and Continental Europe).
Note: eGain is a registered trademark, and the other eGain product and service names appearing in this release are trademarks or service marks, of eGain Communications Corp. All other company names and products are trademarks or registered trademarks of their respective companies.
eGain Communications:
Jamie Abayan
Phone: 650-230-7532
Email: pr@egain.com
Investor relations:
eMail: iregain@egain.com
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eGain Communications Corporation provides customer service and contact center software that enables companies to build customer interaction hubs worldwide. It offers eGain Service 8 suite of applications, which consist of integrated applications for Web self-service, email management, paper and fax management, chat, co-browsing, SMS, call tracking and resolution, proactive notifications, cross-channel knowledge management, case management, and service fulfillment. These applications are built on the eGain OpenCIH platform, an integrated customer interaction hub platform that includes end-to-end service process management, multichannel, multisite contact center management, and certified out of the box integrations with call center, content, and business systems. The company also provides value-added services comprising email spam and virus cleaning, post office services, virtual private networks, remote data access, encrypted backups, and test/reporting/warm spare servers, as well as offers solution-as-a-service for its software suite. In addition, it provides professional services, such as consulting and education services, as well as offers technical support services. eGain Communications primarily serves customers operating in telecommunications, financial services, insurance, outsourced services, retail, technology, manufacturing, and consumer industries. The company was founded in 1997 and is headquartered in Mountain View, California.
Web Site
http://www.egain.com
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