February 12, 2010, 12:00 AM

LivePerson records a $3.1 million profit in Q4

Live chat vendor LivePerson Inc. recorded a 26.5% rise in revenue in the fourth quarter and a 17.1% increase in revenue for 2009.

Live chat vendor LivePerson Inc. registered strong growth in revenue in both the fourth quarter and the year.

For Q4 ended Dec. 31, LivePerson reported:

  • Revenue of $24.8 million, up 26.5% from $19.6 million for the same period in 2008 and up 11% from the third quarter of 2008.
  • Net income of $3.1 million, compared with a net loss of $23.8 million for the same quarter in 2008 and $2.3 million in net income for the third quarter of 2009.
“We had a great quarter, with all facets of the business contributing to top line growth," says LivePerson CEO Robert LoCascio. "Revenue and earnings for both the quarter and year have surpassed our expectations, driven by a balanced mix of geographic expansion, new account acquisition and existing account penetration.”

LivePerson gained 14 customers in the fourth quarter, including Crate and Barrel, No. 55 in the Internet Retailer Top 500 Guide (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name), and a major U.S.-based sporting goods company that LivePerson declined to identify. Live Person serves 8,000 companies.

For the fourth quarter, sales in LivePerson’s business segment, which includes hosted chat services for businesses, represented 86.3% of revenue. The rest came from the consumer segment, where experts provide advice directly to consumers.

For the full year, LivePerson reported:

  • Revenue of $87.5 million, up 17.1% from $74.7 million for 2008.
  • Net income of $7.8 million, compared with a net loss of $23.8 million for 2008.

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