eGain announces financial results for the third fiscal quarter
Mountain View, Calif. (May 08, 2006) : eGain Communications Corporation
(OTC: EGAN.OB), a leading provider of customer service and contact center software, today announced financial results for the third quarter of fiscal year 2006 ended March 31, 2006.
Total revenue for the third fiscal quarter was $6.1 million, an increase of 31% or $1.5 million from the comparable year-ago quarter. License revenue was $1.8 million, an increase of 74% or $788,000 from the comparable year-ago quarter. Support and services revenue was $4.3 million, an increase of 19% or $668,000 from the comparable year-ago quarter.
Net income for the third fiscal quarter was $88,000, or $0.01 per share, compared to a net loss of $725,000, or $(0.05) per share, for the same quarter a year ago. Net income for the third fiscal quarter included stock based compensation of $62,000 and interest and tax expense of $240,000. Net loss for the comparable year-ago quarter included interest and tax expense of $256,000, and no stock-based compensation expense.
Total cash and cash equivalents were $5.5 million at March 31, 2006, compared to $4.5 million at June 30, 2005 and $4.9 million at December 31, 2005. The $623,000 net increase in cash this quarter reflects approximately $1.1 million of cash provided from operations, compared to $1.2 million of cash used in operations in the same quarter a year ago. Days sales outstanding in receivables for the March 31, 2006 quarter were 68 days compared to 66 days for the comparable year-ago quarter. Deferred revenues totaled $4.7 million at March 31, 2006, up 17% from $4.0 million at the prior year.
“We are pleased with our overall financial and operational performance this quarter and we feel the company is continuing to make progress,” said Ashu Roy, eGain CEO. “This puts our fiscal year-to date revenue growth at 19%; near the high end of the range we set at the beginning of the year. We continue to a see growing demand for our multichannel customer interaction hub solutions and plan to continue to make investments into our business operations to capitalize on this demand.”
Filed under: eGain
