Mattersight Announces Fourth Quarter 2011 Results
(firmenpresse) - CHICAGO, IL -- (Marketwire) -- 02/15/12 -- Mattersight Corporation (NASDAQ: MATR) today announced financial results for the fourth quarter ended December 31, 2011.
Mattersight's total services revenue was $8.6 million, including $6.7 million(1) of subscription revenues. The Company realized an "Adjusted Earnings(2)" loss of $1.0 million for the fourth quarter of 2011. Adjusted Earnings is a non-GAAP measure. For a reconciliation of operating loss to Adjusted Earnings, see the accompanying schedule. Mattersight's net loss was $1.3 million in the fourth quarter of 2011 and its operating loss from continuing operations(3) was $3.1 million.
Increased subscription revenues by 22% sequentially, and 30% year over year, to a record $6.7 million
Grew total service revenues by 22% sequentially to $8.6 million
Expanded gross margins by 300 basis points sequentially
Improved operating performance by 1,800 basis points sequentially
Closed three new pilots in Q4
Resolved the arbitration with TCV
Closed a financing with a new, strategic investor, Investor Growth Capital
Generated $1.8 million in cash, net of TCV and IGC transactions
Mattersight currently expects its Q1 subscription revenues will increase approximately 6%, sequentially and its total services revenues will increase approximately 5%, sequentially.
Mattersight management will host a conference call at 5:00 p.m. ET on Wednesday, February 15, 2012. The conference call and slide presentation will be available at the Investment Community section of Mattersight's website at . To listen to the conference call via telephone, please call 800.952.4789 (domestic) or 404.665.9579 (international), conference ID: 46920226.
For those who cannot access the live broadcast, a replay of the conference call will be available beginning approximately two hours after the live call is completed until February 29, 2012, by dialing 855.859.2056 (domestic) or 404.537.3406 (international), conference ID: 46920226.
Statements in this press release that are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, which may be identified by use of words such as "plan," "may," "might," "believe," "expect," "intend," "could," "would," "should," and other words and terms of similar meaning, involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition to other factors and matters contained or incorporated in this document, important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements include, among other things, the risks detailed from time to time in Mattersight's SEC filings. You can locate these filings on the Investor Relations page of Mattersight's website, . Statements included or incorporated by reference into this press release are based upon information known to Mattersight as of the date of this press release, and the company assumes no obligation to publicly revise or update any forward-looking statement for any reason.
Mattersight is a leader in enterprise analytics focused on customer and employee interactions and behaviors. Mattersight's Behavioral Analytics service captures and analyzes customer and employee interactions, employee desktop data, and other contextual information to improve operational performance and predict future customer and employee outcomes. Mattersight's analytics are based on millions of proprietary algorithms and the application of unique behavioral models. The company's SaaS+ delivery model combines analytics in the cloud with deep customer partnerships to drive significant business value. Mattersight's applications are used by leading companies in Healthcare, Insurance, Financial Services, Telecommunications, Cable, Utilities and Government. See What Matters™ by visiting .
(1) Mattersight changed the revenue classification of a specific contract from Other revenue to subscription revenue in the fourth quarter to better reflect the type of services provided under this contract. The impact in the fourth quarter was $0.3 million. Revenue for this specific contract has been reclassified in all historical periods.
(2) Mattersight presents Adjusted Earnings, a non-GAAP measure that represents cash earnings performance, excluding the impact of non-cash expenses and expense reduction activities, because management believes that Adjusted Earnings provide investors with a better understanding of the results of Mattersight's operations. Management believes that Adjusted Earnings reflect Mattersight's resources available to invest in its business and strengthen its balance sheet. In addition, expense reduction activities can vary significantly between periods on the basis of factors that management does not believe reflect current-period operating performance. Although similar adjustments for expense reduction activities may be recorded in future periods, the size and frequency of these adjustments cannot be predicted. The Adjusted Earnings measure should be considered in addition to, not as a substitute for or superior to, operating income, cash flows or other measures of financial performance prepared in accordance with GAAP.
(3) On May 28, 2011, the company divested its Integrated Contact Solutions ("ICS") business unit and "eLoyalty" registered trademark / trade name to a subsidiary of TeleTech Holdings, Inc. As a result of this divestiture, the company has classified the ICS business unit as discontinued operations and the associated results of operations, financial position, and cash flows have been separately recorded as appropriate.
Stock-based compensation, primarily restricted stock, is included in individual line items above:
Contact
Bill Noon
Vice President, Chief Financial Officer
847.582.7019
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Datum: 15.02.2012 - 21:40 Uhr
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