Model N Provides Business Update; Reports Preliminary Fiscal 2014 Guidance
Sep 12, 2013 (Close-Up Media via COMTEX) --
Model N, Inc., a revenue management solutions provider to the life science and technology industries, on September 9 provided a business update and preliminary guidance for the first quarter and full year fiscal 2014.
According to a release, as of September 9, Model N is providing the following guidance:
-For the first quarter of fiscal 2014 ending December 31, the Company expects:
-Total revenue to be in the range of $20.0 million to $21.0 million.
-For the full fiscal year ending September 30, 2014, the Company expects:
-Total revenue to be in the range of $70.0 million to $80.0 million.
"Our current revenue visibility has caused us to reduce our financial expectations for fiscal 2014," said Zack Rinat, Model N's Founder, Chairman, and Chief Executive Officer. "We remain focused on recruiting a new sales leader to resolve the sales execution challenges we discussed on last quarter's earnings conference call. We continue to believe that our market leading products, large market opportunity, proven value proposition, and strong pipeline of opportunities position the company well for the long-term."
Model N reported that it hosted a conference call on September 9 to review this preliminary guidance for both the first fiscal quarter and the full fiscal year 2014. A live webcast of the conference will be accessible from Model N's website at: investor.modeln.com. Following the completion of the call through 11:59 p.m. ET on September 16, a recording will be available for replay at: investor.modeln.com and a telephone replay will be available by dialing (877) 870-5176 in the U.S. or (858) 384-5517 internationally with recording access code 10000248.
Model N is a provider of Revenue Management solutions.
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