-- Revenue of $6.0 million up 15% from the comparable year-ago quarter
-- License revenue of $1.6 million up 19% from the comparable year-ago
quarter
-- Hosting revenue of $1.0 million up 22% from the comparable year-ago
quarter
-- Services revenue of $1.2 million up 24% from the comparable year-ago
quarter
eGain Communications Corporation (
-- Management anticipates revenue to be in the range of $27 million to
$30 million or a 20% to 33% increase from fiscal year 2006.
-- Management anticipates GAAP income from operations to be positive for
fiscal year 2007.
About eGain Communications Corporation
eGain is a provider of customer service and contact center software and
services, trusted by world-class companies to achieve and sustain customer
service excellence for over a decade. eGain Service 7™, the company's
software suite, available licensed or hosted, includes integrated
applications for customer email management, live web collaboration, service
fulfillment, knowledge management, and web self-service. These robust
applications are built on the eGain Service Management Platform™ (eGain
SMP™), designed to be a scalable next-generation framework that includes
end-to-end service process management, multi-channel, multi-site contact
center management, a flexible integration approach, and certified
out-of-the-box integrations with leading call center, content and business
systems.
To find out more about eGain, visit http://www.eGain.com or call the
company's offices -- United States: (888) 603-4246 ext. 9; London: +44 (0)
1753-464646.
Cautionary Note Regarding Forward-Looking Statements
All statements in this release that involve eGain's plans, forecasts,
beliefs, projections, expectations, strategies and intentions are
forward-looking statements within the meaning of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements, which are based on information available to
eGain at the time of this release, are not guarantees of future results;
rather, they are subject to risks and uncertainties that may cause actual
results to differ materially from those set forth in this release. These
risks include, but are not limited to, the uncertainty of demand for eGain
products; the anticipated customer benefits from eGain products; increased
competition and technological changes in the markets in which eGain
competes; eGain's ability to manage its expenditures; and other risks
detailed from time to time in the company's filings with the Securities and
Exchange Commission, including the company's annual report on Form 10-K
filed on September 27, 2006, and the company's quarterly reports on Form
10-Q. eGain assumes no obligation to update these forward-looking
statements.
Note: eGain is a registered trademark, and the other eGain product and
service names appearing in this release are trademarks or service marks, of
eGain Communications Corp. All other company names and products are
trademarks or registered trademarks of their respective companies.
eGain Communications Corporation
Condensed Consolidated Balance Sheets
(in thousands)
September 30, June 30,
2006 2006
--------------- ---------------
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 5,174 $ 6,916
Restricted cash 12 12
Accounts receivable, net 3,404 2,151
Prepaid and other current assets 628 623
--------------- ---------------
Total current assets 9,218 9,702
Property and equipment, net 1,130 1,169
Goodwill, net 4,880 4,880
Other assets 355 354
--------------- ---------------
Total assets $ 15,583 $ 16,105
=============== ===============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 1,058 $ 989
Accrued compensation 1,591 1,254
Accrued liabilities 1,775 1,156
Deferred revenue 3,885 4,259
Current portion of bank borrowings 1,676 1,697
--------------- ---------------
Total current liabilities 9,985 9,355
Related party notes payable 8,936 8,652
Bank borrowings, net of current portion
45 77
Other long term liabilities 208 217
--------------- ---------------
Total liabilities 19,174 18,301
Stockholders' deficit:
Common stock $ 15 $ 15
Additional paid-in capital 315,812 315,736
Notes receivable from stockholders (75) (74)
Accumulated other comprehensive loss (437) (456)
Accumulated deficit (318,906) (317,417)
--------------- ---------------
Total stockholders' deficit $ (3,591) $ (2,196)
--------------- ---------------
$ 15,583 $ 16,105
=============== ===============
eGain Communications Corporation
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
Three Months Ended
September 30,
------------------------
2006 2005
----------- -----------
Revenue:
License $ 1,635 $ 1,377
Support and Services 4,368 3,846
----------- -----------
Total revenue 6,003 5,223
Cost of license 41 53
Cost of support and services 1,941 1,724
----------- -----------
Gross profit 4,021 3,446
Operating costs and expenses:
Research and development 1,025 713
Sales and marketing 3,287 2,127
General and administrative 940 629
----------- -----------
Total operating costs and expenses 5,252 3,469
----------- -----------
Loss from operations (1,231) (23)
Interest expense, net (270) (255)
Other income, net 27 6
----------- -----------
Loss before income tax (1,474) (272)
Income tax (15) (25)
----------- -----------
Net loss (1,489) (297)
=========== ===========
Per share information:
Basic and diluted net loss per common
share $ (0.10) $ (0.02)
=========== ===========
Weighted average shares used in computing
basic and diluted net loss per common
share 15,314 15,302
=========== ===========
Contact Information: Company Contact: Maeve Naughton 650-230-7449 PR@eGain.com Investor Contact: IRegain@eGain.com