Computeruser.com
Latest News

LivePerson Reports Fourth Quarter and Full Year 2010 Financial Results

NEW YORK Feb. 10, 2011 December 31, 2010

http://photos.prnewswire.com/prnh/20110105/NY24753LOGO-a

Revenue

$29.9 million $26.2 million $3.7 million

$109.9 million $87.5 million $95.7 million $75.5 million $14.2 million $11.9 million

Robert LoCascio

Customer Expansion

LivePerson added 14 new enterprise clients in the quarter, including:

  • A leading specialty retailer
  • Petco, a leading pet specialty retailer
  • Europe

The company also expanded business with

  • One of the largest US-based cellular service providers
  • Vodaphone UK
  • One of the leading global entertainment companies
  • A leading provider of software, services and solutions for consumers and businesses
  • A leading automotive credit provider
  • Adobe
  • A leading corporate information services provider
  • One of the top 3 US banks

Net Income

$2.7 million $0.05 $3.1 million $0.06 $2.8 million $0.05 $9.3 million $0.18 $7.8 million $0.16

Adjusted Net Income and EBITDA

LivePerson considers adjusted net income and earnings before other income/(expense), taxes, depreciation, amortization and stock-based compensation (EBITDA) to be important financial indicators of the company’s operational strength and the performance of its business. These results should be considered in addition to results prepared in accordance with generally accepted accounting principles (GAAP), but should not be considered as a substitute for, or superior to, GAAP results.

A reconciliation of the differences between EBITDA and adjusted net income, and the most comparable financial measure calculated and presented in accordance with GAAP, is presented under the heading "Reconciliation of Non-GAAP Financial Information to GAAP" immediately following the Condensed Consolidated Statements of Operations included below.

The difference between EBITDA per share, a non-GAAP measure, and GAAP EPS, is interest, taxes, depreciation, amortization, stock-based compensation and other non-cash charges, if any.  The difference between adjusted net income per share and GAAP EPS is amortization of intangible assets and stock-based compensation.

$4.6 million $0.09 $4.7 million $0.09 $4.6 million $0.09 $15.9 million $0.30 $14.5 million $0.30

$7.9 million $0.15 $7.1 million $0.14 $7.5 million $0.14 $26.8 million $0.51 $22.8 million $0.47

Cash

$61.3 million December 31, 2010 $50.4 million September 30, 2010 $45.6 million December 31, 2009 $7.9 million $2.0 million

$15.5 million $8.0 million

Board of Directors Transition

Emmanuel Gill February 11, 2011 William Wesemann

Financial Expectations

Following is the company’s current expectation for financial and operating performance:

First Quarter 2011

  • $30.0 – $30.5 million
  • $0.12 – $0.14
  • $0.06 – $0.08
  • $0.04 – $0.05
  • Fully diluted share count of approximately 54.5 million

Full Year 2011

  • $133 – $136 million
  • $0.60 – $0.63
  • $0.33 – $0.36
  • $0.20 – $0.22
  • Fully diluted share count of approximately 55.5 million

Other Full Year 2011 Assumptions

  • $1.0 million
  • $6.0 million
  • $8.0 million
  • Effective tax rate of approximately 36%
  • Cash tax rate of approximately 36%
  • $8.0 million

Stock-Based Compensation  

Included in the accompanying financial results are expenses related to stock-based compensation, as follows (in thousands):

Q4 2010

Q4 2009

FY 2010

FY 2009

Cost of revenue

$211

$211

$865

$790

Product development

307

372

1,329

1,402

Sales and marketing

401

376

1,371

1,337

General and administrative

620

276

1,577

1,197

  Total

$1,539

$1,235

$5,142

$4,726

Amortization of Intangible Assets  

Included in the accompanying financial results are expenses related to the amortization of intangible assets, as follows (in thousands):

Q4 2010

Q4 2009

FY 2010

FY 2009

Cost of revenue

$307

307

$1,226

$1,228

General and administrative

11

83

260

745

  Total

$318

$390

$1,486

$1,973

Earnings Teleconference and Video Discussion Information

February 10, 2011 5:00 p.m. ET 5:00 p.m. ET

6:00 p.m. ET February 10, 2011 May 10, 2011 Canada

http://www.youtube.com/user/myliveperson

LivePerson, Inc.

Condensed Consolidated Statements of Income

(In Thousands, Except Share and Per Share Data)

Unaudited

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2010

2009

2010

2009

Revenue

$        29,935

$        24,768

$      109,862

$        87,490

Operating expenses:

Cost of revenue

8,235

6,068

29,640

21,076

Product development

4,257

3,163

15,711

12,111

Sales and marketing

8,404

7,408

32,835

27,355

General and administrative

4,931

3,427

17,077

13,417

Amortization of intangibles

11

83

259

745

Total operating expenses

25,838

20,149

95,522

74,704

Income from operations

4,097

4,619

14,340

12,786

Other income (expense), net

(43)

(35)

(7)

14

Income before provision for income taxes

4,054

4,584

14,333

12,800

Provision for income taxes

1,312

1,493

5,074

5,037

Net income

$          2,742

$          3,091

$          9,259

$          7,763

Basic net income per common share

$            0.05

$            0.06

$            0.18

$            0.16

Diluted net income per common share

$            0.05

$            0.06

$            0.18

$            0.16

Weighted average shares outstanding used in basic net income per common share calculation

51,133,917

48,786,986

50,721,880

47,962,688

Weighted average shares outstanding used in diluted net income per common share calculation

53,831,339

51,065,181

52,907,541

49,008,440

LiveP erson, Inc.

Reconciliation of Non-GAAP Financial Information to GAAP

(In Thousands, Except Share and Per Share Data)

Unaudited

Unaudited Supplemental Data

The following information is not a financial measure under generally accepted accounting principles (GAAP). In addition, it should not be construed as an alternative to any other measures of performance determined in accordance with GAAP, or as an indicator of our operating performance, liquidity or cash flows generated by operating, investing and financing activities as there may be significant factors or trends that it fails to address. We present this financial information because we believe that it is helpful to some investors as one measure of our operations. We caution investors that non-GAAP financial information, by its nature, departs from traditional accounting conventions; accordingly, its use can make it difficult to compare our results with our results from other reporting periods and with the results of other companies.  

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2010

2009

2010

2009

Net income in accordance with generally

accepted accounting principles

$          2,742

$          3,091

$          9,259

$          7,763

Add/(less):

(a)

Amortization of intangibles

318

390

1,486

1,973

(b)

Stock-based compensation

1,539

1,235

5,142

4,726

(c)

Depreciation

1,903

899

5,791

3,347

(d)

Provision for income taxes

1,312

1,493

5,074

5,037

Leave a comment

seks shop - izolasyon
basic theory test book basic theory test