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Positive Financial Results for Interactive Intelligence
Interactive Intelligence (ININ) just announced first quarter and half year operating results and they are positive despite the many negative economic conditions affecting IT budgets. Revenues and profits were up for the quarter and half year compared to 2008 results, driven by increased maintenance and support fees, according to Chairman and CEO Dr. Donald E. Brown. He was also quoted in the financial release as saying that the company will "continue to focus on new product development and expanding our existing offerings." Last quarter ININ acquired AcroSoft, an insurance content management solutions company, and also announced a new communications-based process automation solution scheduled for release later this year. Dr. Brown said that ININ believes "these initiatives will help drive more value to [their] existing customers and prospects, and generate additional revenues in 2010."Among the second quarter 2009 results:
* Revenues of $32.9 million, up 7.5% YoY;
* GAAP-based operating income of $3.0 million, up from $1.3 million in the second quarter of 2008;
* Non-GAAP operating income of $3.7 million, compared to $2.2 million in the same quarter last year;
* Gross margins of 67.9 %, compared to 67.3 % 2Q08;
* GAAP net income of $2.1 million, or diluted earnings per share (EPS) of $0.12, up from $845,000, or EPS of $0.04, in 2Q08;
* Non-GAAP net income of $4.4 million, or EPS of $0.24, compared to $2.4 million, or EPS of $0.13, for the same quarter last year; and
* Cash and investment balances at quarter-end of $54.1 million with no debt.
First half 2009 results included:
* Total revenues of $62.4 million, up 3.8% YoY;
* GAAP operating income of $5.4 million, up from $2.7 million in the first half of 2008;
* Non-GAAP operating income of $7.0 million, compared to $4.5 million in the first half of 2008;
* Gross margins of 68.6 %, compared to 68.3 percent for the first half of 2008;
* GAAP net income of $3.3 million, or EPS of $0.19, compared to $2.0 million, or EPS of $0.10, for the first half of 2008;
* Non-GAAP net income of $7.2 million, or EPS of $0.41, compared to $5.3 million, or EPS of $0.28, for the same period last year.
ININ's growth record in a highly competitive market environment is impressive. Fortune Small Business ranked ININ among the country's 100 Fastest Growing Small Public Companies. The magazine ranked it 16th overall and 5th among its fastest growing technology companies. ININ achieved its ranking with 10.5 percent revenue growth from 2007 to 2008, and a 7.9% total return to investors based on a three-year annualized rate ending December 2008. ININ's contact center and UC solutions are also highly rated by consultants (see my December 11, 2008 No Jitter feature story 3rd Annual TEQConsult Group Consultant Survey). I am scheduled to attend the annual ININ Partner Conference in early October and will be reporting back to No Jitter readers on any newsworthy items.