Jive Software Announces Third Quarter 2016 Results

Third Quarter and Recent Business Highlights

• Achieved new customer wins with Close Brothers Group Plc, Clyde and Co., Corning Museum of Glass, First Home Mortgage, Ford Motor Company, Fraunhofer IAO, hc1.com, Logicor, M3 Insurance Solutions, National Council of Architectural Registration Boards (NCARB), Positivo Informática, SIEMonster Inc., STMicroelectronics, Tampa Bay Sports and Entertainment, and Truth Initiative, among others.
• Expanded or renewed customer relationships with ADEO Services, Athenahealth, Inc., CA Technologies, Credit Suisse, Department of Justice, Detroit Diesel Corporation, Driven Brands, Inc., EMC Corporation, FICO, Fidelity Investments, FireEye, HomeAway, Leidos, MD Anderson Physicians Network, Medidata Solutions, National Archives, National Instruments, Pearson Inc., PEO C3T - a division of the U.S. Army, Ricoh Group, ServiceNow, Shaw Communications Inc., SolarWinds, Starwood Hotels, Swedish Partners Medical Group, Tableau Software, Inc. and Windstream Corporation, among others.
• Jive's Interactive Intranet solution was named the winner of the Gold Stevie Award in the Best New Product category for big data solutions by the 13th Annual International Business Awards. The International Business Awards is a premier business awards program that honors the achievements of organizations and professionals. This year there was a record total of more than 3,800 nominations in a wide range of categories from more than 60 countries. Jive's Interactive Intranet was recognized for specific innovations including analytics, search and personalization services that seamlessly pull together the right experts, content and interactions across any apps or devices an employee prefers. Jive was also recognized for its state-of-the-art recommender engine, which helps companies drive employee engagement by leveraging machine-learning insights to uncover the most relevant digital workplace experiences and content.
• Jive was ranked as a Leader in The Aragon Research Globe™ for Social Software, 2016: Shifting to Work and Outcomes report for the third consecutive year. Aragon Research evaluated 21 global enterprise social networking (ESN) vendors for this year's report, and recognized Jive for its strong partner ecosystem, powerful analytics and continued momentum behind new innovation.

Financial Outlook

As of November 1, 2016, Jive's guidance for its fourth quarter 2016 and full year 2016 is as follows:

• Fourth Quarter 2016 Guidance:
  • Total revenue is expected to be in the range of $49.5 million to $50.5 million.
  • Non-GAAP income from operations is expected to be in the range of $2.0 million to $3.0 million.
  • Non-GAAP earnings per share are expected to be in the range of $0.02 to $0.04 based on approximately 81.2 million weighted-average diluted shares outstanding.
  • Change in short-term billings is expected to be in the range of 0% to 5%.
  • Free cash flow is expected to be in the range of $3.0 million to $5.0 million.
• Full Year 2016 Guidance:
  • Total revenue is expected to be in the range of $201.9 million to $202.9 million.
  • Non-GAAP income from operations is expected to be in the range of $5.4 million to $6.4 million.
  • Non-GAAP earnings per share are expected to be in the range of $0.06 to $0.07 based on approximately 80.2 million weighted-average diluted shares outstanding.
  • Change in short-term billings is expected to be in the range of negative 2% to negative 1%.
  • Free cash flow is expected to be in the range of negative $4.6 million to negative $2.6 million.

With respect to the Company's expectations under "Financial Outlook" above, the Company's non-GAAP guidance excludes stock-based compensation, income taxes, amortization of intangible assets, restructuring, capital expenditures, and capital lease payments, which are reconciling items between those non-GAAP measures and their most closely comparable GAAP measures. The Company does not provide reconciliations of non-GAAP income from operations, non-GAAP earnings per share or free cash flow to the corresponding GAAP measures due to the high variability of, and difficulty in making accurate forecasts and projections with respect to, the items excluded from these non-GAAP financial measures.  In particular, stock-based compensation and restructuring charges are impacted by the Company's retention needs as well as the future fair market value of its common stock, and free cash flow is impacted by the timing and amounts of capital expenditures, all of which are difficult to predict and subject to constant change. Accordingly, a reconciliation to GAAP loss from operations, GAAP loss per share, and cash flows from operating activities is not available without unreasonable effort. The actual amounts of these excluded items will have a significant impact on the Company's non-GAAP income from operations, non-GAAP earnings per share and free cash flow.

Quarterly Conference Call

Jive will host a conference call today at 2:00 p.m. PT (5:00 p.m. ET) to review the Company's financial results for the third quarter and outlook for the fourth quarter and full year 2016.  Listeners may access a live webcast of the conference call along with an accompanying slide presentation under "News, Events & Presentations, Quarterly Earnings" on Jive's investor relations website at http://quarterlyearnings.jivesoftware.com.   A replay of the webcast will be available on the website following the live event.  To listen by phone, dial 844-492-3729 (domestic) or 412-542-4195 (international).  A replay of this conference call can be accessed through November 8, 2016 by dialing 877-344-7529 (domestic) or 412-317-0088 (international). The replay pass code is 10095079.

About Jive Software

Jive (Nasdaq: JIVE) is the leader in accelerating workplace digital transformation for organizations, enabling people to work better together. The company provides industry-leading Interactive Intranet and Customer Community solutions that connect people, information and ideas to help businesses outpace their competitors. With more than 30 million users worldwide and customers in virtually every industry, Jive is consistently recognized as a leader by top analyst firms, including Gartner Inc. and Aragon Research. More information can be found at www.jivesoftware.com or the Jive Blog.

Non-GAAP Financial Measures

The Company uses certain non-GAAP financial measures in this release.  Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles. 

Non-GAAP gross profit, income (loss) from operations, net income (loss) and net income (loss) per share exclude stock-based compensation expenses and amortization of acquisition related intangible assets. Free cash flow is defined by the Company as cash flows provided by operating activities less principal payments on capital leases and purchases of property and equipment. Total billings is defined by the Company as revenue plus the change in total deferred revenue. Short-term billings is defined as revenue plus the change in short-term deferred revenue.  Management presents these non-GAAP financial measures because it considers them to be important supplemental measures of performance. Management uses the non-GAAP financial measures for planning purposes, including analysis of the Company's performance against prior periods, the preparation of operating budgets and to determine appropriate levels of operating and capital investments. Management also believes that the non-GAAP financial measures provide additional meaningful insight for analysts and investors in evaluating the Company's financial and operational performance. However, these non-GAAP financial measures have limitations as an analytical tool, are not intended to be an alternative to financial measures prepared in accordance with GAAP, and may be different from non-GAAP financial measures presented by other companies as non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies.  We intend to provide these non-GAAP financial measures as part of our future earnings discussions and, therefore, the inclusion of these non-GAAP financial measures will provide consistency in our financial reporting. A reconciliation of these non-GAAP measures to GAAP is provided in the accompanying tables.

Safe Harbor Statement

"Safe Harbor" statement under Private Securities Litigation Reform Act of 1995:  This press release contains forward-looking statements, including statements concerning our financial guidance for the fourth fiscal quarter of 2016 and full fiscal year of 2016, expectations regarding our strategy of driving improved financial and operational performance, the timing of sustainable non-GAAP operating profitability, expense reductions and related charges, new business initiatives and changes in product roadmap and development; assumptions related to cost savings, product demand and operating efficiencies; the effectiveness and intended benefits of our product releases; and our belief that we are well positioned to build upon our momentum over time.  The achievement of success in the matters covered by such forward-looking statements involves substantial risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results or events could differ materially from the results expressed or implied by the forward-looking statements we make.

The risk and uncertainties referred to above include, but are not limited to, risks associated with our limited operating history; expectations regarding the widespread adoption of social business platforms by enterprises; uncertainty regarding the market for social business platforms; changes in the competitive dynamics of our market; our ability to increase and predict new subscriptions; subscription renewal or upsell rates and the impact these rates may have on our future revenues; our ability to increase the pace at which we are able to add new customers, our reliance on our own controls and third-party service providers to host some of our products; the risk that our security measures could be breached and unauthorized access to customer data could be obtained; potential third party intellectual property infringement claims; and the price volatility of our common stock. 

More information about potential factors that could affect our business and financial results is contained in our quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that we make with the Securities and Exchange Commission.  We do not intend and undertake no duty to release publicly any updates or revisions to any forward-looking statements contained herein.

JIVE SOFTWARE, INC.
Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)
	For the Three Months Ended					For the Nine Months Ended
		September 30,				September 30,
		2016		2015		2016		2015
Revenues:
Product	$	46,659	$	45,960	$	139,730	$	133,628
Professional services		4,062		3,945		12,669		12,014
Total revenues		50,721		49,905		152,399		145,642
Cost of revenues:
Product		11,605		12,623		36,620		36,630
Professional services		4,473		5,542		15,237		16,912
Total cost of revenues		16,078		18,165		51,857		53,542
Gross profit		34,643		31,740		100,542		92,100
Operating expenses:
Research and development		10,990		13,187		34,565		40,737
Sales and marketing		17,920		20,172		57,021		57,996
General and administrative		6,420		7,141		19,296		20,420
Restructuring		(84)		-		4,029		-
Total operating expenses Werbung Mehr Nachrichten zur Jive Software Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 12:02 - PR Newswire Rightmove Plc - Transaction in Own Shares 12:02 - PR Newswire BlackRock Sustainable American Income Trust Plc - Transaction in Own Shares 04:16 - PR Newswire Norges Bank - Form 8.3 - International Paper Company Auf zur INVEST am 26.+ 27.04.2024    Foto: Landesmesse Stuttgart GmbH - Jetzt kostenloses Ticket sichern! weiterlesen» Anzeige wo-site-teaser-box-16688_site-teaser-box_2024-04-17_09%253A00%253A00_2024-04-22_09%253A00%253A59