Email and cross-channel marketing solutions provider Responsys, Inc. (MKTG) Tuesday reported a rise in fourth-quarter profit attributable to stockholders.
Net income attributable to common stockholders is computed after determining the net income allocable to preferred stockholders prior to their conversion into common stock in conjunction with the IPO.
The conversion of the Series A, Series B, Series C, Series D, and Series E convertible preferred stock occurred on April 27, 2011, after the company's initial public offering.
Responsys' net income for the fourth quarter attributable to common stockholders was $2.0 million, rising from $1.4 million in the year-ago quarter. Earnings per share was $0.04 versus $0.09 last year.
On average, 5 analysts polled by Thomson Reuters expected earnings of $0.04 per share for the quarter.
Net income for the quarter was $2.0 million, dropping from $5.5 million in the fourth quarter of 2010.
Adjusted net income for the quarter was $3.3 million or $0.06 per share, dropping from $5.3 million or $0.12 per share in the prior-year quarter.
Dan Springer, CEO and chairman, said," Our customers' marketing activities were robust in the period, driving solid messaging volumes and revenue ahead of our guidance. EPS was also ahead of our guidance, reflecting both strong revenue and lower-than-planned spend in certain areas."
Revenue for the quarter increased 21 percent to $37.2 million from $30.7 million in the year-ago quarter. Three Street analysts had a consensus revenue estimate of $34.9 million for the quarter.
Subscription revenue for the quarter increased 20 percent. Professional services revenue for the quarter was up 26 percent.
Total non-GAAP operating income for the quarter dropped to $5.2 million from $8.6 million last year.
Springer said," Our growth continues to be influenced by the strong need for marketing organizations to be able to market to their customers across the digital channels of email, social, mobile, the web and display."
GAAP net income attributable to common stockholders for 2011 was $5.2 million or $0.12 per share compared with $1.2 million or $0.08 per share in 2010.
Non-GAAP net income was $11.0 million in 2011 or $0.21 per share compared to $9.6 million or $0.22 per share in 2010. Revenue for the full year grew 43 percent to $134.9 million from $94.1 million in 2010.
For the first quarter of 2012, the company expects non-GAAP net income of about $0.04 per share and revenue in the range of $35-$36 million, in line with Street view.
For the full year 2012, the company expects non-GAAP net income of $10-$11 million or about $0.19-$0.21 per share, and revenue in the range of $160-$163 million. The Street expects earnings of $0.23 on revenues of $160.8 million.
MKTG closed Tuesday's regular trade at $11.99, down $0.26 or 2.12%, on the Nasdaq. Over the past year, the stock traded in a range of $7.30 - $18.19.
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