inContact Earnings: Here’s Why Investors are Not Excited Now
inContact, Inc. (NASDAQ:SAAS) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 9.56%.
inContact, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.03 in the quarter versus EPS of $-0.04 in the year-earlier quarter.
Revenue: Rose 18.61% to $31.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: inContact, Inc. reported adjusted EPS loss of $0.03 per share. By that measure, the company beat the mean analyst estimate of $-0.04. It missed the average revenue estimate of $32.32 million.
Quoting Management: Said Paul Jarman, inContact CEO, “I’m pleased to announce that Q2 was the strongest bookings quarter in the company’s history, up 46 percent over what was a very strong comparable quarter in Q2 2012. During the quarter, we closed a record number of 83 contracts, 54 with new logo customers and 29 expansion deals. These strong bookings results have been fueled by our continued investment in demand generation marketing and sales expansion. As the cloud market becomes increasingly mainstream, we see larger and larger enterprise customers adopting the cloud, which is another driver of our extremely strong bookings. We believe that the cloud contact center market is undergoing a meaningful shift into a new phase of adoption and inContact is benefiting from these powerful market dynamics.”
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