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CRM Vendor RightNow Announces Results, Net Loss
TMCnet Contributing Editor
CRM vendor RightNow Technologies, Inc., has announced results for the second quarter ended June 30, 2006, reporting its 34th consecutive quarter of revenue growth, with second quarter consolidated revenue of $26.9 million, an increase of 28 percent from the second quarter of 2005.
The net loss in the second quarter of 2006 was $(1.8) million or $(0.05) per diluted share, including $(0.02) related to the post-acquisition operating results of Salesnet, compared to net income of $1.6 million, or $0.05 per diluted share, in the second quarter of 2005.
Second quarter 2006 non-GAAP net income per diluted share was $0.00, which excludes stock-based compensation charges of $(0.05) per diluted share.
Revenue for the six month period ended June 30, 2006 was $51.5 million, or 31 percent more than the comparable 2005 period. The net loss for the six months ended June 30, 2006 was $(2.2) million, or $(0.07) per diluted share, as compared to net income of $2.4 million, or $0.07 per diluted share, for the six months ended June 30, 2005.
Last month the Bozeman, Montana-based firm announced that Navy Federal, which bills itself as "the world's largest credit union," selected RightNow Service for its more than 2.6 million members worldwide.
In particular, Navy Federal officials say, they're deploying RightNow to "automate routing and responses for the 35,000 secure e-mail messages" they receive every month via their web site.
Navy Federal has experienced a dramatic increase in the number of secure e-mails being sent by members from its password-protected site over the past year. These e-mails are sent to any one of more than 70 different departments and then routed to individual specialists within those departments.
Navy Federal's hoping RightNow's intelligent content recognition capabilities can help automatically route an upwards of 60 percent of its e-mails. It also expects the CRM system to automatically answer approximately one-third of its e-mails without human intervention.
RightNow added 70 new customers and handled 223 million customer interactions during the second quarter. Including the addition of the Salesnet customers, the company counts over 1,700 customers.
Susan Carstensen, CFO, stated "Bookings of $33.2 million and cash from operations of $6.9 million in the quarter bring our year-to-date totals to approximately $71 million and $13 million, respectively, for increases of 49 percent and 123 percent, respectively, over last year."
David Sims is a contributing editor for TMCnet. For more articles please visit David Sims' columnist page.
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