RightNow Technologies Reports Preliminary 2006 Financial Results
Bozeman, MT (January 4, 2007) — RightNow Technologies (NASDAQ:RNOW), today announced preliminary results for the quarter and year ended December 31, 2006. Revenue for the fourth quarter is expected to be approximately $28 million and earnings are expected to be below the Company’s previous guidance of $(0.02) to $0.00 cents per share on a GAAP basis. In the fourth quarter, bookings are expected to be approximately $41 million and cash from operations is expected to range from $4 to $5 million. Comparing the preliminary results for full year 2006 to 2005, bookings grew approximately 50% and cash from operations grew approximately 80%. Results were primarily affected by the accelerating shift in the company’s business mix from perpetual to recurring revenue agreements, including one large transaction that was originally anticipated as a perpetual license but closed as a recurring revenue transaction.
Greg Gianforte, founder and CEO said, “While we are disappointed that our fourth quarter revenue and earnings were below our guidance, bookings were strong for the fourth quarter and full year. Looking forward, we are focused on the first quarter release of RightNow 8 and continuing to build on the business success we saw in 2006.”
RightNow will report final results and host a conference call on January 31, 2007.
Filed under: RightNow
