eGain posts $5.7 M Q1 revenue

By siliconindia   |   Friday, 01 November 2002, 20:30 IST
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SUNNYVALE: eGain Communications Corporation (Nasdaq:EGAN) Thursday announced that it has posted a revenue of $5.7 million for the first quarter of fiscal year 2003 as compared to $6.3 million in the prior quarter. On a pro-forma (non-GAAP) EBDA basis, which reflects earnings before depreciation, amortization, and other non-cash and restructuring charges, net loss for the quarter narrowed to $2.9 million, or $0.08 per share, compared to a net loss of $5.6 million, or $0.15 per share, in the prior quarter. Other non-cash charges include accreted dividends. On a GAAP basis, including non-cash and restructuring charges, net loss for the quarter was $8.1 million, or $0.22 per share, compared to a net loss of $57.5 million, or $1.57 per share, in the prior quarter, the company said in a press release. "We are pleased to have performed in line with our previously announced targets in a traditionally slow summer quarter," said Ashutosh Roy, eGain's chairman and CEO. "We've been able to reduce costs and expenses on an EBDA basis by $3.3 million over the prior quarter. Our well-established global operating model allows us to sustain product innovation and customer satisfaction in a tough market. We remain committed to achieving our EBDA breakeven target in the December 2002 quarter," continued Mr. Roy. In addition to announcing quarterly results, eGain also announced that the Nasdaq Stock Market has approved the transfer of the listing of eGain's common stock from the Nasdaq National Market to the Nasdaq SmallCap Market. The transfer to the SmallCap Market will take effect with the open of business on Tuesday, November 5, 2002. During the quarter eGain expanded its relationships with existing customers such as Virgin Mobile, Vodafone and Verizon and added 8 new customers including Replacements, Ltd. and OnStar Corporation. eGain also signed new relationships or expanded existing relationships with distribution and systems integrator partners around the world, most notably Hitachi, NS Solutions, Cap Gemini, Deloitte Consulting, eLoyalty and Siemens.