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January 31, 2008

Interactive Intelligence Enjoys Record Revenues

By Greg Galitzine, Group Editorial Director


Interactive Intelligence (News - Alert) Inc., has reported record financial results for its fourth quarter and fiscal year ended Dec. 31, 2007. Revenues for the 2007 fiscal year totaled $109.9 million, up 32 percent from $83.0 million in 2006. Fourth quarter revenues were $29.3 million, a 23 percent increase from $23.9 million in the same quarter last year.
 
“Our growth was largely driven by the significant value proposition offered by our unique all-in-one communications software suite for contact centers and enterprises,” said Interactive Intelligence CEO, Dr. Donald E. Brown.
 
Among the highlights:
* Interactive Intelligence posted:
  • 32 percent annual revenue growth
  • 61 percent increase in operating income
  • Over $20 million of operating cash flow
* Interactive Intelligence added 93 new customers in the fourth quarter
* Interactive Intelligence added 325 new customers for the year.
* The company was positioned in the “Leaders Quadrant” of Gartner’s (News - Alert) 2007 Contact Center Infrastructure report.”
 
“We believe migration to VoIP continues to fuel our company’s strong and steady growth,” Brown said.
 
According to the announcement, net income for the 2007 fourth quarter was $10.3 million, with diluted earnings per share (EPS) of $0.53. These results include $840,000 of expense related to employee stock options, as well as a tax benefit of $8.1 million recorded to reduce the valuation allowance for deferred tax assets. Net income for the fourth quarter of 2006 was $1.6 million with EPS of $0.08, including stock option expense of $539,000.
 
For the 2007 fourth quarter, non-GAAP (generally accepted accounting principles) net income was $3.1 million, or EPS of $0.16, compared to non-GAAP net income of $2.1 million, or EPS of $0.11, in the same quarter last year. The non-GAAP differences were due to exclusion of the non-cash income tax benefit recorded in the fourth quarter of 2007 and stock-based compensation expense recorded in both years.
 
Net income for the 2007 fiscal year was $17.5 million with EPS of $0.91, up from 2006 fiscal year net income of $10.2 million with EPS of $0.56. Net income for 2007 included expense for employee stock options of $3.1 million, as well as the tax benefit of $8.1 million recorded in the fourth quarter. Net income for 2006 included expense for employee stock options of $2.1 million, as well as a tax benefit of $5.0 million recorded in the third quarter to reduce the valuation allowance for deferred tax assets related to tax operating loss carry-forwards.
 
Non-GAAP net income for the 2007 fiscal year was $12.5 million, or EPS of $0.65, compared to non-GAAP net income of $7.4 million, or EPS of $0.40, in the 2006 fiscal year. The non-GAAP differences were due to exclusion of the non-cash income tax benefit and stock-based compensation expense recorded in both years.
 
Cash and short-term investments as of Dec. 31, 2007 totaled $46.3 million, up from $27.1 million on Dec. 31, 2006. Cash flow from operating activities for fiscal year 2007 was $20.2 million.
 
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Greg Galitzine (News - Alert) is editorial director of TMCnet. To read more of Greg’s articles, please visit his columnist page.



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