Bottomline Technologies (de), Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2013. For the quarter, the company reported that total revenues were $73,405,000 compared to $63,609,000 a year ago. Loss from operations was $2,592,000 compared to $2,812,000 a year ago. Loss before income taxes was $5,983,000 compared to $8,314,000 a year ago. Net loss was $7,265,000 or $0.20 per basic and diluted share compared to $7,040,000 or $0.20 per basic and diluted share a year ago. Core net income was $10,315,000 or $0.28 per diluted share compared to $11,758,000 or $0.33 per diluted share a year ago. EBITDA was a record of $14,300,000 and operating income was a record of $12,200,000, both up 16% year-over-year. Operating cash flow was $10,400,000.

For the six months, the company reported that total revenues were $140,654,000 compared to $125,298,000 a year ago. Loss from operations was $3,638,000 compared to $2,986,000 a year ago. Loss before income taxes was $11,069,000 compared to $8,442,000 a year ago. Net loss was $13,313,000 or $0.37 per basic and diluted share compared to $7,022,000 or $0.20 per basic and diluted share a year ago. Core net income was $20,510,000 or $0.55 per diluted share compared to $22,306,000 or $0.62 per diluted share a year ago.

Based on the strength of the second quarter results, the company raised annual guidance and reconfirmed the third and fourth quarter guidance. The updated full-year outlook is revenue of $298.5 million, operating income of $52.6 million and EPS of $1.25. The company expects a strong finish to the fiscal year and the company will exit the year with an annualized run rate of $320 million of revenue and $70 million of EBITDA.

On a quarterly basis, the company sees revenue increase from $73.4 million in the second quarter to $77.5 million in the third quarter, and $80.3 million in fourth quarter, with each quarter representing year-over-year revenue growth of 20% plus. From a profit perspective, the company is projecting to increase operating income from $12.2 million in the second quarter to $13.5 million in the third quarter, and further increasing to $15.3 million in the fourth quarter. Tax expense is expected to be $1 million in the third quarter and $800,000 in the fourth quarter, for a full year tax expense of $4 million, which is slightly below the prior annual guidance of $4.3 million. Turning to earnings, the company is raising the EPS guidance from $1.19 to $1.25 on the year on the strength of the second quarter results. EPS is projected to increase from $0.28 in the second quarter to $0.32 in the third quarter and expanding further to $0.37 in the fourth quarter.