Rainmaker Systems Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011 ; Provides Earnings Guidance for the Year 2012
February 29, 2012 at 04:06 pm EST
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Rainmaker Systems Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, net revenue was $9,531,000 compared to $9,194,000 a year ago. Operating loss was $2,024,000 compared to $2,617,000 a year ago. Loss before income tax expense was $1,924,000 compared to $2,702,000 a year ago. Net loss was $1,893,000 or $0.07 per basic and diluted share compared to $2,768,000 or $0.13 per basic and diluted share a year ago. Adjusted net revenue - Non-GAAP basis was $9,531,000 compared to $8,945,000 a year ago. Net loss - Non-GAAP basis was $1,571,000 or $0.06 per basic and diluted share compared to $1,998,000 or $0.10 per basic and diluted share a year ago. LBITDA - Non-GAAP basis was $1,406,000 compared to $1,426,000 a year ago. Adjusted LBITDA - Non-GAAP basis was $932,000 compared to $629,000 a year ago.
For the year, net revenue was $37,026,000 compared to $42,768,000 a year ago. Operating loss was $10,898,000 compared to $8,676,000 a year ago. Loss before income tax expense was $10,864,000 compared to $9,671,000 a year ago. Net loss was $10,979,000 or $0.44 per basic and diluted share compared to $9,950,000 or $0.49 per basic and diluted share a year ago. Net cash used in operating activities was $5,386,000 compared to $982,000 a year ago. Purchases of property and equipment was $1,666,000 compared to $3,170,000 a year ago. Adjusted net revenue - Non-GAAP basis was $37,026,000 compared to $34,504,000 a year ago. Net loss - Non-GAAP basis was $8,737,000 or $0.35 per basic and diluted share compared to $10,866,000 or $0.53 per basic and diluted share a year ago. LBITDA - Non-GAAP basis was $7,356,000 compared to $4,050,000 a year ago. Adjusted LBITDA - Non-GAAP basis was $5,290,000 compared to $1,080,000 a year ago.
For the year 2012, the company announced that fourth quarter of 2011 was the second consecutive quarter of significant sequential decreases by quarterly net loss, and expected this trend to continue in 2012. The company continued to expect to achieve breakeven on an operating cash basis at the third quarter of 2012. The company forecasted to reach positive operating cash flow in the third quarter within current resources.
Rainmaker Systems, Inc., is an enterprise solutions company. Rainmaker Systems, Inc. and its subsidiaries are focused on serving business enterprises to help increase sales to small and medium sized businesses. The Company's services include lead generation services, SMB sales and contract renewals and training. The Company has developed the Rainmaker Revenue Delivery Platform which combines sales and marketing services coupled with renewals software and business analytics. The Companyâs services include marketing strategy development, personalized renewals and subscription e-commerce and microsite creation and hosting, inbound and outbound e-mail, direct mail, chat, and call center services across the world. The Companyâs ViewCentral SaaS platform provides an end-to-end solution for the management and delivery of training programs for corporations. The ViewCentral Learning Management System platform is a SaaS, cloud based, on-demand, training management system.
Rainmaker Systems Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011 ; Provides Earnings Guidance for the Year 2012