LivePerson Announces First Quarter 2017 Financial Results

During the first quarter, the Company signed contracts with the following new customers:

• A leading broadband provider to the United Kingdom
• One of the premier subscription music providers
• A global provider of corporate travel services
• One of the largest national lending institutions
• A top 10 rental car company

The Company also expanded business with:

• Qantas, Australia's largest domestic and international airline
• A multi-billion dollar financial services company
• Leading telecommunications providers in Europe and Asia
• A global provider of auto finance services
• A leading luxury online department store

Net Loss and Adjusted Net Income

Net loss for the first quarter of 2017 was $5.7 million or $0.10 per share, as compared to a net loss of $2.7 million or $0.05 per share in the first quarter of 2016. Adjusted net income for the first quarter of 2017 was $0.5 million or $0.01 per share, as compared to adjusted net income of $1.4 million or $0.03 per share in the first quarter of 2016. Adjusted net income excludes amortization, stock-based compensation, restructuring costs, acquisition costs, deferred tax asset valuation allowance, other non-recurring charges and the related income tax effect of these adjustments.

Net loss in the first quarter of 2017 and first quarter of 2016 included net non-recurring expenses of $2.1 million ($0.05 per share) and $0.4 million ($0.01 per share), respectively, primarily related to IP litigation costs.

Adjusted EBITDA

Adjusted EBITDA for the first quarter of 2017 was $3.3 million or $0.06 per share, as compared to $4.7 million or $0.08 per share in the first quarter of 2016. Adjusted EBITDA excludes provision for (benefit from) income taxes, other (income)/expense, net, depreciation and amortization, stock-based compensation, restructuring costs, acquisition costs and other non-recurring charges.

A reconciliation of the non-GAAP financial measures to GAAP measures has been provided in the financial tables included in this press release. An explanation of the non-GAAP financial measures and how they are calculated is included below under the heading "Non-GAAP Financial Measures."

Cash and Cash Equivalents

The Company's cash balance was $51.7 million at March 31, 2017, including $4.0 million of cash being used as collateral for foreign currency hedging instruments. The Company utilized approximately $3.1 million of cash from operations, reflecting typical first quarter cash flow patterns, and incurred capital expenditures of approximately $2.7 million. The Company also spent approximately $1.0 million to repurchase shares of its common stock during the first quarter of 2017. As of March 31, 2017, approximately $19.2 million remained available for purchases under the previously announced stock repurchase program.

Financial Expectations

The Company is raising the low end of its previously issued 2017 revenue guidance range to $204 million from $201 million due to a solid start to the year and continued progress toward completing the platform transition to LiveEngage. Updated revenue guidance for full-year 2017 is now $204 million to $209 million.

Guidance for LivePerson's 2017 profit measures are unchanged, and the Company remains on track to reduce 2017 expenses by $16.0 million to $19.0 million as compared to 2016, excluding one-time, restructuring, and non-cash items.

Efforts to wind down the legacy infrastructure and align on LiveEngage are proceeding slightly ahead of plan. Therefore, LivePerson now expects to pull forward into the second quarter $0.3 million to $0.5 million of the $2.3 million to $2.5 million of restructuring and severance charges previously scheduled for the third quarter of 2017. Depending on our progress, additional portions of the planned third quarter charges may be recognized in the second quarter.

The Company's detailed financial expectations are as follows:

Second Quarter 2017

Full Year 2017

Other Full Year 2017 Assumptions

• A negative foreign exchange impact on revenue of approximately $3.0 million
• Estimated one-time and restructuring charges of $2.7 million to $3.1 million ($0.05 per share) tied to winding down the Legacy offering and realigning around our LiveEngage strategy
• Estimated one-time legal expense of $6.0 million to $6.5 million ($0.11 per share) related to litigation
• Amortization of purchased intangibles of approximately $4.7 million
• Stock-based compensation expense of approximately $10.5 million
• Depreciation of approximately $10.5 million
• Cash taxes paid of $1.0 million to $3.0 million. Adjusted net income tax rate of approximately 35%
• Capital expenditures of approximately $14.5 million

*Changes to Future and Historical Presentation of Non-GAAP Financial Measures

Note that in 2017, the Company updated the methodology for calculating adjusted net income. Whereas the Company previously incorporated the GAAP tax rate into its calculation, the Company now starts with GAAP pre-tax profit (loss), add back restructuring, one-time and non-cash expenses, and then applies a standardized 35% tax rate.

The goal of the revised calculation is to limit the volatility of GAAP tax rate fluctuations and to more closely align non-GAAP taxes with cash taxes. A full reconciliation of 2016 adjusted net income under the historical and updated methodologies is available on the Supplemental First Quarter Earnings Presentation that you may find on the investor relations section of the Company's web site at http://www.liveperson.com/company/ir.

Stock-Based Compensation

Included in the accompanying financial results are expenses related to stock-based compensation, as follows (in thousands):

Amortization of Purchased Intangibles

Included in the accompanying financial results are expenses related to the amortization of purchased intangibles, as follows (in thousands):

	Three Months Ended
	March 31,
	2017				2016
Cost of revenue	$	959 Werbung Mehr Nachrichten zur LivePerson 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 08:54 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Spirent Communications PLC 08:53 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Shanta Gold Ltd 02:00 - PR Newswire FirstGroup Plc - Transaction in Own Shares SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59