RightNow Technologies Posts 1Q 2009 Financial Results

RightNow Technologies has announced results for the first quarter ended March 31.

In a release on April 29, the Company noted that total revenue was $36.0 million in the first quarter of 2009, compared to $32.9 million in the first quarter of 2008, reflecting 10 percent growth in revenue.

Net income in the first quarter of 2009 was $1.3 million or $0.04 per share, compared to a net loss of $(3.4) million or $(0.10) per share, in the first quarter of 2008. Non-GAAP net income in the first quarter of 2009, which excludes stock-based compensation charges of $1.5 million, was $2.8 million or $0.09 per share, as compared to non-GAAP net loss of $(2.1) million or $(0.06) per share, in the first quarter of 2008.

New, renewed and expanded customer relationships during the first quarter of 2009 included Activision Blizzard, Inc., Alienware, drugstore.com, eHarmony, Fasthosts, Federal Aviation Administration, Lean Logistics, Sony Computer Entertainment America, Sprint Nextel, and Seventh Generation.

"We are pleased to report earnings per share ahead of guidance as we maintained our commitment to improving operating margins. That said, we saw some impact from the current macroeconomic conditions on our sales in the first quarter," stated Greg Gianforte, CEO and founder. "While we remain cautious in the current environment, we believe the pipeline for Q2 is strong with a good mix of opportunities across deal sizes, verticals and geographies. We continue to focus on two primary objectives for 2009: taking care of the customer and growing profitability."

Guidance

- For the full year 2009, revenue is expected to be in the range of $147 to $151 million compared to previous guidance of $150 to $155 million.

- Net income (loss) per share for the full year 2009 is expected to be in the range of $(0.02) to $0.03 compared to previous guidance of $(0.07) to $0.01.

- Non-GAAP net income per share for the full year 2009, which excludes stock-based compensation, is expected to be in the range of $0.20 to $0.25 compared to previous guidance of $0.15 to $0.23.

- For the second quarter of 2009, revenue is expected to be approximately $36 million, comprised of an increase in recurring revenue offset by a decrease in professional services revenue. Second quarter net loss per share is expected to be in the range of $(0.04) to $(0.02). Second quarter non-GAAP net income per share, which excludes stock-based compensation, is expected to be in the range of $0.03 to $0.05.

RightNow delivers the technology solutions and services organizations need to cost-efficiently deliver a consistently superior customer experience across their frontline service, sales and marketing touch-points, the company noted in a release.

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