8X8 Inc. Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended December 31, 2015; Revises Earnings Guidance for the Fiscal Year 2016; Announces Impairment of Long-Lived Assets for the Third Quarter of 2015
January 22, 2016 at 02:35 am IST
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8x8 Inc. reported unaudited consolidated earnings results for third quarter and nine months ended December 31, 2015. For the quarter, the company reported total revenue of $53,168,000, loss from operations before provision for income taxes of $2,237,000, net loss of $1,680,000 or $0.02 per diluted share compared to the total revenue of $41,372,000, income from operations before provision for income taxes of $1,071,000, net income of $444,000 or $0.01 per diluted share for the same quarter a year ago. Non-GAAP net income was $4.299 million or $0.05 per diluted share compared to $4.074 million or $0.04 per diluted share a year ago. Non-GAAP income from operations was $3.796 million against $4.013 million a year ago. Loss from operations was $2.509 million against income of $0.825 million a year ago.
For the nine months, the company reported total revenue of $152,003,000, loss from operations before provision for income taxes of $3,393,000, net loss of $4,044,000 or $0.05 per diluted share compared to the total revenue of $118,883,000, income from operations before provision for income taxes of $4,453,000, net income of $1,743,000 or $0.02 per diluted share for the same period a year ago. Net cash provided by operating activities was of $15,384,000 compared to $13,775,000 a year ago. Purchases of property and equipment were of $3,295,000 compared to $4,523,000 a year ago. Non-GAAP net income was $11,767,000 or $0.13 per diluted share compared to $11,363,000 or $0.12 per diluted share a year ago. Non-GAAP income from operations was $11.347 million against $11.006 million a year ago. Loss from operations was $4.103 million against income of $3.830 million a year ago.
The company revising fiscal 2016 revenue outlook upward to a range of $205 million to $207 million, which represents a 26%-27% year-over-year increase, from previous outlook of $204 million to $206 million. Due to the strong growth in service revenue, the company also increasing its guidance for non-GAAP net income as a percentage of revenue to approximately 6%-7% for the full fiscal year.
For the quarter, the company announced impairment of long-lived assets of $640,000.
8x8, Inc. is a provider of software-as-a-service solutions for contact centers, voice communications, video meetings, employee collaboration, and embeddable communication application programming interfaces (API). The Companyâs communications platform solutions comprise the 8x8 XCaaS platform, which is an integrated contact center, voice communications, video, chat, and SMS solution built on one global cloud communications platform. Its integrated technology platform includes 8x8 Work, 8x8 Contact Center, 8x8 Engage and 8x8 X Series. Its 8x8 Work is an end-to-end unified communications as a service solution that delivers enterprise-grade voice services, secure video meetings, and unified messaging including direct messages, public and private team messaging rooms, and peer-to-peer short and multimedia messaging, or SMS/MMS. 8x8 Contact Center is a cloud-based contact center as-a-service solution that includes omnichannel customer engagement, advanced analytics, and other features.
8X8 Inc. Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended December 31, 2015; Revises Earnings Guidance for the Fiscal Year 2016; Announces Impairment of Long-Lived Assets for the Third Quarter of 2015