Interactive Intelligence (News - Alert) has expanded its market focus on enterprises and on the cloud and is now beginning to reap the results.
With the enterprise-scalable Customer Interaction Center 4.0 product that will soon be released and with continued popularity of its cloud offerings, there could be greater gains for the business communications solutions firm. Strategic acquisitions, such as exclusive reseller CallTime Solutions, which service the Australian and New Zealand markets, will also drive more revenues.
Interactive Intelligence (News - Alert) reported $52 million revenues in second quarter 2011 (2Q11). This is an impressive 34 percent climb over $39 million garnered in the second quarter of 2010 (2Q10). Product revenues were up 34 percent, recurring revenues rose 35 percent and services revenues increased 30 percent in 2Q11 compared with that in 2Q10.
Most of that growth – 29 percent – was organic, that is, exclusive of revenues from the Agori and Latitude acquisitions. New customer bookings leapt 76 percent year over year while overall bookings flew up 44 percent. The firm won 81 new customers in 2Q11 from 62 in 2Q10. At the same time cloud bookings, which represent 16 percent of volume, were up 87 percent in 2Q11 over 2Q10.
The deals are also getting bigger. Interactive Intelligence won five deals over $1 million in the second quarter 2011 over two in the the same period in 2010 and took 27 orders worth between $250,000 and 1 million this year compared with 18 last year.
From these results GAAP net income hit $3.8 million, with $0.19 diluted earnings per share (EPS) of $0.19 in 2Q11, from $2.5 million, or EPS of $0.13 in 2Q10. Net income on a non-GAAP basis reached $6.3 million this year, with a $0.32 EPS compared to $5 million and a $0.27 EPS a year earlier.
The firm also scored impressive results in the first half of 2011:
- Total revenues of $99.7 million, a 35 percent increase over revenues of $73.8 million for the first half of 2010
- GAAP operating income of $10.4 million, up from $8.6 million for the first half of 2010
- Non-GAAP operating income of $14 million, compared to $10.7 million for the first half of 2010
- GAAP net income of $6.9 million, or EPS of $0.35, compared to $4.3 million, or EPS of $0.23, for the first half of 2010
- Non-GAAP net income of $11.8 million, or EPS of $0.59, compared to $9.1 million, or EPS of $0.49, for the same period last year.
“We are executing on our primary strategic initiatives,” said Dr. Donald E. Brown, Interactive Intelligence founder and CEO. “We are moving up-market with more sales to larger customers, rapidly increasing revenues from our cloud-based solutions, successfully expanding our presence internationally, performing well in our targeted vertical markets, and seeing increased interest in our process automation capability. With the soon-to-be-released major enhancement to our flagship Customer Interaction Center product, we are well positioned to continue competing effectively in the second half of the year.”
Brendan B. Read is TMCnet’s Senior Contributing Editor. To read more of Brendan’s articles, please visit his columnist page.
Edited by Jennifer Russell