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Article Excerpt
BOZEMAN, Mont., July 25 /PRNewswire-FirstCall/ -- RightNow Technologies, Inc. , today announced financial results for the second quarter ended June 30, 2007. Second quarter revenue was $26.5 million, compared to $26.9 million in the second quarter of 2006. Second quarter 2007 revenue reflects a 35% year-over-year increase in recurring revenue and the business model shift away from perpetual licenses.
The net loss in the second quarter of 2007 was $(5.7) million or $(0.17) per share, compared to a net loss of $(1.8) million, or $(0.05) per share, in the second quarter of 2006. Non-GAAP net loss in the second quarter 2007 was $(3.8) million or $(0.11) per share, compared to a net loss of $(0.1) million or $(0.00) per share in the same quarter last year.
Revenue for the six month period ending June 30, 2007 was $52.2 million, compared to $51.5 million in the same 2006 period. Recurring revenue for the six month period increased 36% year over year. The net loss for the six months ended June 30, 2007 was $(11.7) million, or $(0.36) per share, as compared to $(2.2) million or $(0.07) per share in the same 2006 period. Non- GAAP net loss for the six months ended June 30, 2007 was $(8.5) million, or $(0.26) per share, as compared to non-GAAP net income of $0.3 million or $0.01 per share, in the same 2006 period.
Greg Gianforte, founder and CEO, stated, "During the quarter, recurring revenue grew 35% year-over-year and we added more than 70 new customers. The transition that we outlined earlier in the year is proceeding well, although it is taking longer than expected. The underlying fundamentals in the business remain strong. We released RightNow 8 in 21 languages, RightNow Connect, and industry solutions for the telecommunications and retail markets. We also entered into new and expanded partner arrangements with Genesys and Convergys that offer exciting opportunities to expand RightNow 8 into new contact centers."
New, renewed and expanded customer relationships...
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