Interactive Intelligence Reports Record First Quarter Revenues of $12.7 Million, Up 80% Over Same Quarter Last Year
For More Information Please Contact:
Michael J. Tavlin
Senior Vice President and Chief Financial Officer
Interactive Intelligence Inc.
+1 317.715.8325
mike.tavlin@ININ.com
Company also announces voluntary stock option exchange program for employees
INDIANAPOLIS (April 19, 2001) - Interactive Intelligence Inc. (NASDAQ:
ININ), a global developer of interaction management software, reported
record revenues of $12.7 million for the quarter ended March 31, 2001. This
is an increase of 80 percent over revenues of $7.0 million in the same
quarter a year ago.
The net loss for the first quarter of 2001 was $1.7 million, or $0.11 per
share. This compares with a net loss of $1.6 million, or $0.12 per share for
the first quarter of 2000.
Dr. Donald E. Brown, president and chief executive officer for Interactive
Intelligence, said: "We are very pleased with our financial performance for
the first quarter of 2001. This was our 12th consecutive quarter of 80
percent or better top line revenue growth. This record of outstanding
financial performance is to us especially noteworthy considering all of the
recent reports of a global economic downturn. Our focus for the future
continues to be revenue expansion, cost control and the path to
profitability, which we believe can occur by the third quarter of this
year."
Fundamental to Interactive Intelligence`s growth last quarter was its
ability to continue to sign brand name customers and improve its reseller
base. New customers in the Americas included Peoplesoft, Computershare,
Walgreens, Key Benefits Group, Sears Mexico and Lan Chile. Follow-on
business was also excellent, with important first quarter sales involving
Bell Industries, Ceridian and Blue Cross Blue Shield.
The company improved its North American reseller channel in the first
quarter by signing Kent Datacomm, a division of Kent Electronics
Corporation, which is among the largest publicly traded specialty
electronics distributors and network integrators in the U.S. Kent Datacomm
specializes in IP telephony integration and is also a national Cisco
partner.
Interactive Intelligence signed several new Asia Pacific customers,
including Shinsei Bank in Japan, Taipei Water Department, Pacific Access in
Sydney and Sitel in New Zealand. Said Dr. Brown, "Asia Pacific continues to
be a market with a lot of potential for us. With major partners coming on
board, including most recently WorldGroup Consulting in Malaysia and Iverson
Computer Associates in Singapore, we believe we can maintain rapid
penetration here."
Interactive Intelligence continued to lay the foundation for additional
market penetration in Europe, signing data network supplier and major Cisco
partner, DLink in Germany. The company also signed Dimension Data in Europe,
which has been a very successful reseller for Interactive Intelligence in
South Africa since 1998.
Interactive Intelligence made notable headway on the product front as well,
announcing a major upgrade to its add-on dialer product for contact centers,
Interaction Dialer(tm). Also of note was its OEM agreement with Nuance,
designed to improve voice recognition integration to the company`s call
center and e-business products.
Interactive Intelligence officially expanded its direct presence in Asia
Pacific in the first quarter by opening its Kuala Lumpur office to better
support South Asia and Australasia operations. Also in the first quarter the
company hired its 400th employee and announced the commencement of
construction for its new campus-style headquarters in Indianapolis to
support its continued growth.
The company also announced today that its Board of Directors has approved a
voluntary stock option exchange program for its employees. Interactive
Intelligence employees will have the opportunity, if they so choose, to
cancel previously granted options under the Company`s 1999 Stock Option and
Incentive Plan in exchange for an equal number of new options to be granted
on a specified future date. The exercise or strike price of these new
options will be set at the fair market value of the Company`s common stock
as of the new grant date, which is expected to occur late this year.
"We believe that our company`s opportunities for growth are excellent and
that employee retention and motivation are cornerstones to building
long-term shareholder value," said Dr. Brown. "I believe that this program
is an important indication of our commitment to our future success."
The exchange program has been organized to comply with FASB Interpretation
No. 44 "Accounting for Certain Transactions Involving Stock Compensation"
and, accordingly, there will be no variable compensation charges as a result
of this voluntary stock option exchange program.
Business and Financial Outlook
The following statements are based on Interactive Intelligence`s current
expectations as of April 19, 2001. These statements are forward-looking
statements and actual results may differ materially. A discussion on
forward-looking statements and potential risks and uncertainties that may
arise to affect these statements is included at the end of this press
release.
Said Dr. Brown, "We are very aware of the general uncertainty concerning
business conditions in the markets we seek to serve. Reports of a
deteriorating macro-economic environment resulting in serious challenges to
incoming order rates amid signs of a sector slowdown are rampant among
technology companies. Nevertheless, we believe we are well positioned for
the future and we are cautiously optimistic concerning the current fiscal
quarter and year. As we look forward to the June 2001 quarter, we expect
revenue of $14.3 million to $14.5 million and a loss per share of $0.04 to
$0.05 based on 15.1 million shares. For the year 2001, we expect revenue of
$61 million to $63 million and fully diluted earnings per share of $0.00 to
$0.02 based on 16.5 million shares. Having just achieved our strongest
quarter ever in terms of net cash provided by operating activities, we
continue to rigorously focus on our goal of achieving overall profitability
in the third quarter of 2001."
About Interactive Intelligence Inc.
Interactive Intelligence Inc. (NASDAQ: ININ) is a global developer of
interaction management software designed to automate virtually every aspect
of business communications. The company was founded in 1994 and, today, has
a worldwide customer base of more than 700 companies. Based on an open,
unified platform, the Interactive Intelligence product line offers a
flexible and affordable solution to contact centers, e-businesses,
enterprises and service providers. The Interactive Intelligence product line
is subject to multiple United States and international patents pending.
Interactive Intelligence has won numerous awards, including Microsoft`s 1998
Fastest Growing Independent Software Vendor`s (ISV`s) award and Red
Herring`s Top 100 Technology IPOs of 1999. The company is headquartered in
Indianapolis with European headquarters in France and Asia Pacific
headquarters in Japan. Interactive Intelligence can be reached at +1
317.872.3000 or www.ININ.com.
This release contains certain forward-looking statements that involve a
number of risks and uncertainties. Among the factors that could cause
actual results to differ materially are the following: rapid technological
changes in the industry, volatility in the market price of the company`s
common stock; the company`s ability to achieve profitability, to manage
successfully its growth and increasingly complex third party relationships,
to maintain successful relationships with its current and any new resellers,
to maintain and improve its current products and to develop new products and
to protect its proprietary rights adequately; and other factors described in
the company`s SEC filings, including the company`s latest annual report on
Form 10-K and its quarterly reports on Form 10-Q.
Copyright(c) 1994 - 2001 Interactive Intelligence Incorporated. All rights
reserved. Interactive Intelligence(r), Enterprise Interaction Center(r),
EIC(tm), Interaction Center(tm), Interaction Center Platform(tm), Customer
Interaction Center(tm), CIC(tm), Service Interaction Center(tm), SIC(tm),
Interaction Recorder(r), Interaction Dialer(tm), Interaction Director(tm),
e-FAQ(tm), Wireless Interaction Client(tm) and Mobilite(tm) are all
trademarks or registered trademarks of Interactive Intelligence, Inc. All
other products and company names should be considered servicemarks or
trademarks of their respective companies.
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