Company Reports Q2 GAAP EPS of $0.00 and Non-GAAP EPS of $0.09
RightNow® Technologies, Inc. (NASDAQ: RNOW) today announced results for
the second quarter ended June 30, 2009. Total revenue in the second
quarter of 2009 was $36.3 million, compared to $35.2 million in the
second quarter of 2008. Net income in the second quarter of 2009 was
$36,000, or $0.00 per share, compared to a net loss of $(3.1) million,
or $(0.09) per share, in the second quarter of 2008. Non-GAAP net income
in the second quarter of 2009, which excludes stock-based compensation
charges of $2.7 million, was $2.8 million, or $0.09 per share, as
compared to Non-GAAP net loss of $(1.2) million, or $(0.04) per share,
in the second quarter of 2008.
Revenue for the six months ended June 30, 2009 was $72.4 million,
compared to $68.1 million for the comparable period in 2008. Net income
for the six months ended June 30, 2009 was $1.3 million, or $0.04 per
share, as compared to a net loss of $(6.5) million, or $(0.19) per
share, for the comparable period in 2008. Non-GAAP net income for the
six months ended June 30, 2009, which excludes stock-based compensation
charges of $4.3 million, was $5.6 million, or $0.17 per share, as
compared to Non-GAAP net loss of $(3.4) million, or $(0.10) per share,
for the comparable period in 2008.
New, renewed and expanded customer relationships during the second
quarter of 2009 included Belkin, Bowne, Figi’s, Husqvarna, Jackson
Hewitt, K2 Network, The Ladders.com, NetScout, Snapfish and TD Banknorth.
“In the second quarter we delivered strong revenue, earnings ahead of
guidance and closed a record ten deals over one million dollars,” stated
Greg Gianforte, CEO and Founder. “We believe RightNow is creating
momentum in the marketplace as we help new and existing customers lower
costs and retain customers in the current economy. Our success is being
driven by our focus on consumer oriented organizations and our ability
to deliver complete multichannel solutions to meet their unique needs.”
“We are pleased with a third consecutive quarter of GAAP profitability,
which was driven by recurring revenue growth and continued expense
management,” said Jeff Davison, CFO, “and we are raising earnings
guidance for the full year.”
Guidance
-
For the full year 2009, revenue is expected to be in the range of $147
to $151 million. Net income per share for the full year 2009 is
expected to be in the range of $0.06 to $0.10 compared to previous
guidance of $(0.02) to $0.03.
-
Non-GAAP net income per share for the full year 2009, which excludes
stock-based compensation, is expected to be in the range of $0.29 to
$0.33 compared to previous guidance of $0.20 to $0.25.
-
For the third quarter of 2009, revenue is expected to be in the range
of $37 to $38 million. Third quarter net income per share is expected
to be in the range of $0.00 to $0.02. Third quarter non-GAAP net
income per share, which excludes stock-based compensation, is expected
to be in the range of $0.06 to $0.08.
Quarterly Conference Call
RightNow Technologies will discuss its quarterly results today via
teleconference at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time.) To
access the call, please dial (888) 312-9852, or outside the U.S. (719)
325-2114, at least five minutes prior to the 2:30 p.m. MT start time. A
live webcast of the call will also be available at http://investor.rightnow.com/index.cfm
under the Investor Webcasts menu. An audio replay will be available
between 5:30 p.m. MT on July 29, 2009 and 9:59 p.m. MT August 12, 2009
by calling (888) 203-1112 or (719) 457-0820, with passcode 5324517. The
replay will also be available on our website at http://investor.rightnow.com/events.cfm.
About RightNow Technologies
RightNow (NASDAQ: RNOW) delivers the high-impact technology solutions
and services organizations need to cost-efficiently deliver a
consistently superior customer experience across their frontline
service, sales and marketing touch-points. Approximately 1,900
corporations and government agencies worldwide depend on RightNow to
achieve their strategic objectives and better meet the needs of those
they serve. RightNow is headquartered in Bozeman, Montana. For more
information, please visit www.rightnow.com.
RightNow is a registered trademark of RightNow Technologies, Inc. NASDAQ
is a registered trademark of The NASDAQ Stock Market LLC.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995:
All statements included in this press release, other than statements or
characterizations of historical fact, are forward-looking statements.
These forward-looking statements are based on our current expectations,
estimates and projections about our industry, management's beliefs, and
certain assumptions made by us, all of which are subject to change.
Forward-looking statements can often be identified by words such as
"anticipates," "expects," "intends," "plans," "predicts," "believes,"
"seeks," "estimates," "may," "will," "should," "would," "could,"
"potential," "continue," "ongoing," similar expressions, and variations
or negatives of these words and include, but are not limited to,
statements regarding projected results of operations and management’s
future strategic plans. These forward-looking statements are not
guarantees of future results and are subject to risks, uncertainties and
assumptions that could cause our actual results to differ materially and
adversely from those expressed in any forward-looking statement.
The risks and uncertainties referred to above include, but are not
limited to, risks associated with general economic conditions;
fluctuations in foreign currency exchange; our business model; our
ability to develop or acquire, and gain market acceptance for, new
products in a cost-effective and timely manner; the gain or loss of key
customers; competitive pressures; our ability to expand or contract
operations and to grow profitability; fluctuations in our earnings as a
result of the impact of stock-based compensation expense; interruptions
or delays in our hosting operations; breaches of our security measures;
our ability to protect our intellectual property from infringement, and
to avoid infringing on the intellectual property rights of third
parties; our ability to manage and expand our partner relationships; any
unanticipated ambiguities in fair value accounting standards; and our
ability to expand, retain and motivate our employees. Further
information on potential factors that could affect our financial results
is included in our Annual Report on Form 10-K, quarterly reports of Form
10-Q, and in other filings with the Securities and Exchange Commission.
The forward-looking statements in this release speak only as of the date
they are made. We undertake no obligation to revise or update publicly
any forward-looking statement for any reason.
FRNOW
|
RightNow Technologies, Inc.
|
|
Consolidated Balance Sheets
|
|
(In thousands) (Unaudited)
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
Dec 31,
|
|
|
|
2009
|
|
|
2008
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
46,987
|
|
|
$
|
51,405
|
|
|
Short-term investments
|
|
42,808
|
|
|
34,412
|
|
|
Accounts receivable
|
|
31,670
|
|
|
36,770
|
|
|
Term receivables, current
|
|
4,107
|
|
|
5,752
|
|
|
Allowance for doubtful accounts
|
|
(1,910
|
)
|
|
(2,277
|
)
|
|
Net receivables
|
|
33,867
|
|
|
40,245
|
|
|
Deferred commissions
|
|
5,663
|
|
|
5,381
|
|
|
Prepaid and other current assets
|
|
2,152
|
|
|
2,150
|
|
|
Total current assets
|
|
131,477
|
|
|
133,593
|
|
|
|
|
|
|
|
|
Long-term investments
|
|
4,792
|
|
|
4,963
|
|
|
Property and equipment, net
|
|
9,775
|
|
|
10,141
|
|
|
Term receivables, non-current
|
|
2,159
|
|
|
3,547
|
|
|
Intangible assets, net
|
|
5,738
|
|
|
6,399
|
|
|
Deferred commissions, non-current
|
|
2,830
|
|
|
2,840
|
|
|
Other
|
|
811
|
|
|
854
|
|
|
Total Assets
|
|
$
|
157,582
|
|
|
$
|
162,337
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
Accounts payable
|
|
$
|
5,952
|
|
|
$
|
5,058
|
|
|
Commissions and bonuses payable
|
|
4,958
|
|
|
5,665
|
|
|
Other accrued liabilities
|
|
11,895
|
|
|
11,165
|
|
|
Current portion of long-term debt
|
|
45
|
|
|
46
|
|
|
Current portion of deferred revenue
|
|
75,972
|
|
|
77,584
|
|
|
Total current liabilities
|
|
98,822
|
|
|
99,518
|
|
|
|
|
|
|
|
|
Long-term debt, less current portion
|
|
--
|
|
|
22
|
|
|
Deferred revenue, net of current portion
|
|
28,112
|
|
|
35,614
|
|
|
|
|
|
|
|
|
Stockholders’ equity:
|
|
|
|
|
|
Common stock
|
|
34
|
|
|
34
|
|
|
Additional paid-in capital
|
|
107,282
|
|
|
102,662
|
|
|
Treasury stock, at cost
|
|
(15,007
|
)
|
|
(13,209
|
)
|
|
Accumulated other comprehensive income
|
|
1,260
|
|
|
1,916
|
|
|
Accumulated deficit
|
|
(62,921
|
)
|
|
(64,220
|
)
|
|
Total stockholders’ equity
|
|
30,648
|
|
|
27,183
|
|
|
Total Liabilities and Stockholders’ Equity
|
|
$
|
157,582
|
|
|
$
|
162,337
|
|
|
|
|
|
|
|
|
|
|
|
|
RightNow Technologies, Inc.
|
|
Consolidated Operating Statements
|
|
(In thousands, except per share amounts) (Unaudited)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
|
June 30,
|
|
June 30,
|
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
Software, hosting and support
|
|
$
|
27,424
|
|
|
$
|
25,573
|
|
|
$
|
53,469
|
|
|
$
|
50,129
|
|
|
Professional services
|
|
8,916
|
|
|
9,648
|
|
|
18,908
|
|
|
17,990
|
|
|
Total revenue
|
|
36,340
|
|
|
35,221
|
|
|
72,377
|
|
|
68,119
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue:
|
|
|
|
|
|
|
|
|
|
Software, hosting and support
|
|
4,954
|
|
|
5,043
|
|
|
9,903
|
|
|
10,078
|
|
|
Professional services
|
|
6,346
|
|
|
7,810
|
|
|
13,354
|
|
|
15,095
|
|
|
Total cost of revenue
|
|
11,300
|
|
|
12,853
|
|
|
23,257
|
|
|
25,173
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
25,040
|
|
|
22,368
|
|
|
49,120
|
|
|
42,946
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
Sales and marketing
|
|
16,008
|
|
|
17,627
|
|
|
30,871
|
|
|
34,445
|
|
|
Research and development
|
|
5,051
|
|
|
4,507
|
|
|
9,807
|
|
|
8,993
|
|
|
General and administrative
|
|
4,207
|
|
|
3,890
|
|
|
7,653
|
|
|
7,406
|
|
|
Total operating expenses
|
|
25,266
|
|
|
26,024
|
|
|
48,331
|
|
|
50,844
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations
|
|
(226
|
)
|
|
(3,656
|
)
|
|
789
|
|
|
(7,898
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Interest and other income, net
|
|
351
|
|
|
519
|
|
|
752
|
|
|
1,457
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes
|
|
125
|
|
|
(3,137
|
)
|
|
1,541
|
|
|
(6,441
|
)
|
|
Benefit (provision) for income taxes
|
|
(89
|
)
|
|
5
|
|
|
(242
|
)
|
|
(87
|
)
|
|
Net income (loss)
|
|
$
|
36
|
|
|
$
|
(3,132
|
)
|
|
$
|
1,299
|
|
|
$
|
(6,528
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share:
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
0.00
|
|
|
$
|
(0.09
|
)
|
|
$
|
0.04
|
|
|
$
|
(0.19
|
)
|
|
Diluted
|
|
$
|
0.00
|
|
|
$
|
(0.09
|
)
|
|
$
|
0.04
|
|
|
$
|
(0.19
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in the computation:
|
|
|
|
|
|
|
|
|
|
Basic
|
|
31,677
|
|
|
33,582
|
|
|
31,730
|
|
|
33,557
|
|
|
Diluted
|
|
32,160
|
|
|
33,582
|
|
|
32,207
|
|
|
33,557
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental information of stock-based compensation expense
included in:
|
|
|
|
|
|
|
|
|
|
Cost of software, hosting and support
|
|
$
|
142
|
|
|
$
|
79
|
|
|
$
|
238
|
|
|
$
|
156
|
|
|
Cost of professional services
|
|
209
|
|
|
165
|
|
|
342
|
|
|
318
|
|
|
Sales and marketing
|
|
952
|
|
|
595
|
|
|
1,574
|
|
|
1,133
|
|
|
Research and development
|
|
377
|
|
|
242
|
|
|
639
|
|
|
477
|
|
|
General and administrative
|
|
1,056
|
|
|
816
|
|
|
1,459
|
|
|
1,079
|
|
|
Total stock-based compensation
|
|
$
|
2,736
|
|
|
$
|
1,897
|
|
|
$
|
4,252
|
|
|
$
|
3,163
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RightNow Technologies, Inc.
|
|
Consolidated Statements of Cash Flow
|
|
(In thousands) (Unaudited)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
|
June 30,
|
|
June 30,
|
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
Operating activities:
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
36
|
|
|
$
|
(3,132
|
)
|
|
$
|
1,299
|
|
|
$
|
(6,528
|
)
|
|
Non-cash adjustments:
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
1,726
|
|
|
1,943
|
|
|
3,613
|
|
|
3,886
|
|
|
Stock-based compensation
|
|
2,736
|
|
|
1,897
|
|
|
4,252
|
|
|
3,163
|
|
|
Provision for losses on accounts receivable
|
|
30
|
|
|
26
|
|
|
87
|
|
|
115
|
|
|
Changes in operating accounts:
|
|
|
|
|
|
|
|
|
|
Receivables
|
|
(5,171
|
)
|
|
4,062
|
|
|
8,398
|
|
|
11,509
|
|
|
Prepaid expenses
|
|
19
|
|
|
5
|
|
|
(107
|
)
|
|
(443
|
)
|
|
Deferred commissions
|
|
(602
|
)
|
|
(809
|
)
|
|
(77
|
)
|
|
(1,213
|
)
|
|
Accounts payable
|
|
1,937
|
|
|
(174
|
)
|
|
830
|
|
|
1,584
|
|
|
Commissions and bonuses payable
|
|
1,743
|
|
|
742
|
|
|
(810
|
)
|
|
(781
|
)
|
|
Other accrued liabilities
|
|
1,162
|
|
|
(83
|
)
|
|
446
|
|
|
451
|
|
|
Deferred revenue
|
|
(2,038
|
)
|
|
4,001
|
|
|
(11,467
|
)
|
|
567
|
|
|
Other
|
|
503
|
|
|
96
|
|
|
503
|
|
|
(66
|
)
|
|
Cash provided by operating activities
|
|
2,081
|
|
|
8,574
|
|
|
6,967
|
|
|
12,244
|
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities:
|
|
|
|
|
|
|
|
|
|
Net change in short-term investments
|
|
(6,059
|
)
|
|
748
|
|
|
(8,310
|
)
|
|
(1,222
|
)
|
|
Acquisition of property and equipment
|
|
(1,846
|
)
|
|
(1,524
|
)
|
|
(2,530
|
)
|
|
(3,033
|
)
|
|
Other
|
|
5
|
|
|
(12
|
)
|
|
5
|
|
|
(27
|
)
|
|
Cash used in investing activities
|
|
(7,900
|
)
|
|
(788
|
)
|
|
(10,835
|
)
|
|
(4,282
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities:
|
|
|
|
|
|
|
|
|
|
Proceeds from issuance of common stock
|
|
151
|
|
|
234
|
|
|
229
|
|
|
648
|
|
|
Excess tax benefit of stock options exercised
|
|
48
|
|
|
(53
|
)
|
|
137
|
|
|
--
|
|
|
Common stock repurchased
|
|
--
|
|
|
--
|
|
|
(1,798
|
)
|
|
--
|
|
|
Payments on long-term debt
|
|
(11
|
)
|
|
(11
|
)
|
|
(23
|
)
|
|
(22
|
)
|
|
Cash provided (used) by financing activities
|
|
188
|
|
|
170
|
|
|
(1,455
|
)
|
|
626
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of foreign exchange rates on cash and cash equivalents
|
|
1,156
|
|
|
234
|
|
|
905
|
|
|
512
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in cash and cash equivalents
|
|
(4,475
|
)
|
|
8,190
|
|
|
(4,418
|
)
|
|
9,100
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at beginning of period
|
|
51,462
|
|
|
44,591
|
|
|
51,405
|
|
|
43,681
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
46,987
|
|
|
$
|
52,781
|
|
|
$
|
46,987
|
|
|
$
|
52,781
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RightNow Technologies, Inc.
|
|
Reconciliation of Non-GAAP Measurements
|
|
(Amounts in thousands, except per share amounts) (Unaudited)
|
|
|
|
Diluted Earnings Per Share Reconciliation
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
June 30,
|
|
|
|
|
2009
|
|
2008
|
|
2009
|
|
2008
|
|
|
Net income (loss) as reported
|
|
$
|
36
|
|
$
|
(3,132
|
)
|
$
|
1,299
|
|
$
|
(6,528
|
)
|
|
Add stock-based compensation (“SBC”)
|
|
2,736
|
|
1,897
|
|
4,252
|
|
3,163
|
|
|
Net income (loss) before SBC
|
|
$
|
2,772
|
|
$
|
(1,235
|
)
|
$
|
5,551
|
|
$
|
(3,365
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share, as reported (basic and diluted)
|
|
$
|
0.00
|
|
$
|
(0.09
|
)
|
$
|
0.04
|
|
$
|
(0.19
|
)
|
|
Net income (loss) per share, before SBC (basic and diluted)
|
|
$
|
0.09
|
|
$
|
(0.04
|
)
|
$
|
0.17
|
|
$
|
(0.10
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding (basic), as reported
|
|
31,677
|
|
33,582
|
|
31,730
|
|
33,557
|
|
|
Shares outstanding (diluted), excluding the effect of SBC
|
|
32,160
|
|
33,582
|
|
32,207
|
|
33,557
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forward-Looking Guidance Reconciliation
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Guidance
|
|
|
|
Non-GAAP Guidance
|
|
|
|
From
|
|
To
|
|
Adjustment
|
|
From
|
|
To
|
|
Third quarter ending September 30, 2009
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
--
|
|
$
|
700
|
|
$
|
1,800
|
[a]
|
$
|
1,800
|
|
$
|
2,500
|
|
Net income per share
|
|
$
|
0.00
|
|
$
|
0.02
|
|
|
|
$
|
0.06
|
|
$
|
0.08
|
|
Shares (diluted)
|
|
32,500
|
|
32,500
|
|
|
|
32,500
|
|
32,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ending December 31, 2009
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
1,800
|
|
$
|
3,100
|
|
$
|
7,700
|
[a]
|
$
|
9,500
|
|
$
|
10,800
|
|
Net income per share
|
|
$
|
0.06
|
|
$
|
0.10
|
|
|
|
$
|
0.29
|
|
$
|
0.33
|
|
Shares (diluted)
|
|
32,500
|
|
32,500
|
|
|
|
32,500
|
|
32,500
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[a] Estimated stock-based compensation expense to be recorded for
the periods indicated in accordance with Statement of Financial
Accounting Standards No. 123R, Share-Based Payments,
(“SFAS 123R”) which is effective for periods beginning January 1,
2006.
|
About Non-GAAP Financial Measures
Non-GAAP net income (loss) and diluted net income (loss) per share are
supplemental measures of our performance that are not required by, or
presented in accordance with GAAP. These non-GAAP financial measures are
not intended to be used in isolation and should not be considered a
substitute for net income (loss) and net income (loss) per share or any
other performance measure determined in accordance with GAAP. We present
non-GAAP net income (loss) and net income (loss) per share because we
consider each to be an important supplemental measure of our performance.
Management uses these non-GAAP financial measures to make operational
decisions, evaluate the Company’s performance, prepare forecasts and
determine compensation. Further, management believes that both
management and investors benefit from referring to these non-GAAP
financial measures in assessing the Company’s performance when planning,
forecasting and analyzing future periods. Our stock-based compensation
expenses are expected to vary depending on the number of new grants
issued, changes in our stock price, stock market volatility, expected
option lives and risk-free rates of return, all of which are difficult
to estimate. In calculating non-GAAP net income (loss) and net income
(loss) per share, management excludes stock-based compensation expenses
to facilitate its review of the comparability of the Company’s operating
performance on a period-to-period basis because such expenses are not,
in management’s view, related to the Company’s ongoing operating
performance. Management uses this view of its operating performance for
purposes of comparison with its business plan and individual operating
budgets and resource allocation.
Management further believes that these non-GAAP financial measures are
useful to investors in providing greater transparency to the information
used by management in its operational decision making. We believe that
the use of non-GAAP net income (loss) and net income (loss) per share
also facilitate a comparison of RightNow’s underlying operating
performance with that of other companies in our industry, which use
similar non-GAAP financial measures to supplement their GAAP results.
Calculating non-GAAP net income (loss) and net income (loss) per share
have limitations as an analytical tool, and readers should not consider
these measures in isolation or as substitutes for GAAP net income (loss)
and GAAP net income (loss) per share. In the future, we expect to incur
additional stock-based compensation expenses and the exclusion of these
expenses in the presentation of our non-GAAP financial measures should
not be construed as an inference that these costs are unusual,
infrequent or non-recurring. Investors and potential investors are
cautioned that there are material limitations associated with the use of
non-GAAP financial measures as an analytical tool, which include:
-
Other companies inside and outside of our industry may calculate
non-GAAP net income (loss) and net income (loss) per share differently
than we do, limiting their usefulness as a comparative tool; and
-
The Company’s income tax expense or benefit will be ultimately based
on its GAAP taxable income and actual tax rates in effect, which may
differ significantly from the effective tax rate used in our non-GAAP
financial measures.
In addition, the adjustments to our GAAP financial measures reflect the
exclusion of stock-based compensation expenses that are recurring and
will be reflected in the Company’s financial results for the foreseeable
future. The Company compensates for these limitations by providing
specific information regarding the GAAP amount excluded from the
non-GAAP financial measures. The Company further compensates for the
limitations of our use of non-GAAP financial measures by presenting
comparable GAAP measures more prominently. The Company evaluates the
non-GAAP financial measures together with the most directly comparable
GAAP financial measures.
Investors and potential investors are encouraged to review the
reconciliation of non-GAAP financial measures contained within this
press release with our GAAP net income (loss) and net income (loss) per
share. For more information, see the consolidated operating statements
and reconciliation of non-GAAP measurements contained in this press
release.
Investor Relations:
The Blueshirt Group
Todd Friedman or
Stacie Bosinoff
415-217-7722
todd@blueshirtgroup.com
stacie@blueshirtgroup.com
or
Corporate
Communications:
RightNow Technologies
Katie O’Connell
925-674-1487
Desk
925-270-6107 Cell
koconnell@rightnow.com
