eGain posts $5.2 M revenue in Q3

By siliconindia   |   Wednesday, 07 May 2003, 19:30 IST
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SUNNYVALE: eGain Communications Corporation, a provider of eService software for the Global 2000, Tuesday announced financial results for the third quarter of fiscal year 2003. Revenue for the quarter ended March 31, 2003 was $5.2 million, compared to $5.9 million for the quarter ended March 31, 2002 and $5.8 million for the quarter ended December 31, 2002. On a generally accepted accounting principles ("GAAP") basis, including non-cash and restructuring charges, net loss was $4.2 million, or $0.11 per share, for the quarter ended March 31, 2003. For the quarter ended March 31, 2002, GAAP net loss was $20.6 million, or $0.57 per share and for the quarter ended December 31, 2002, GAAP net loss was $2.4 million, or $0.07 per share. Pro forma net loss was $120,000 or $0.00 per share for the quarter ended March 31, 2003, compared to a pro forma net loss of $7.1 million or $0.19 per share, for the quarter ended March 31, 2002 and pro forma net income of $56,000, or $0.00 per share, for the quarter ended December 31, 2002. Pro forma net income (loss) figures exclude depreciation, amortization, accreted dividends and restructuring charges. A table reconciling the pro forma net income (loss) to GAAP net loss is included in the condensed consolidated financial statements in this release. "In the face of an uncertain market, we executed in line with our long-term commitment to fiscal prudence, product innovation, and customer satisfaction," said Ashutosh Roy, CEO of eGain. "With two quarters of break-even EBDA performance under our belt, we are optimistic about our business prospects. Last quarter, we launched our 6th generation solution, eGain Service 6. Gartner rated our offering as visionary in their 2003 eService Magic Quadrant. We believe enterprises seeking to provide cost-effective, differentiated service are particularly attracted to our solution. It includes, what we believe to be, a powerful new capability for rapidly modeling business processes in the contact center across all interaction channels by leveraging a common knowledge base, visual workflow tools, and flexible adapters."