Interactive Intelligence sees profitable Q3

Company has reported a strong performance in Middle East, Africa, Europe and North America

Tags: AccountingFinanceInteractive Intelligence Inc (www.inin.com)
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Interactive Intelligence sees profitable Q3 Interactive Intelligence founder and CEO, Dr Donald E Brown says the company closed a number of large orders in Q3 which contributed to their increased revenues and earnings.
By  Georgina Enzer Published  November 8, 2010

Interactive Intelligence, a unified IP business communications solutions provider, has announced its Q3 2010 results, reporting a 26% increase in revenues to $41.8 million, compared to $33.2 million in the same quarter last year.

The company has also reported Net income on a generally accepted accounting principles (GAAP) basis of $3.5 million, with diluted earnings per share (EPS) of $0.19, compared to net income of $2.8 million and EPS of $0.15 in the third quarter of 2009.

Non-GAAP* net income of $6.9 million, with EPS of $0.37, up from non-GAAP net income of $5.7 million and EPS of $0.31, in the same quarter last year.

"Our performance during the quarter was strong across North America, Europe, Middle East, Africa, and specific regions throughout Asia-Pacific," said Interactive Intelligence founder and CEO, Dr Donald E Brown.

Non-GAAP net income and EPS for the third quarter of 2010 excluded stock-based compensation expense of approximately $1.0 million, or EPS of $0.06, and non-cash income tax expense of $2.4 million, or EPS of $0.12.

The 2009 third-quarter non-GAAP net income and EPS excluded stock-based compensation expense of $975,000, or EPS of $0.05, and non-cash income tax expense of $1.9 million, or EPS of $0.11.

Cash and investment balances as of September 30, 2010 were $85.5 million and the company has no debt.

"As we reported in our preliminary third-quarter announcement, we closed a number of large orders during the quarter, which was a main contributor to our increased revenues and earnings. We continue to execute on our strategy of moving up-market, with record average dollar amounts for new orders. We're also seeing strong increases in new cloud-based communications orders, positively building our recurring revenue base," said Brown.

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