WebSideStory Posts Record First Quarter 2006 Results
Raises Revenue Guidance
SAN DIEGO, CA (May 10, 2006) WebSideStory, Inc. (Nasdaq:WSSI), a leading provider of on-demand digital marketing and customer analytics solutions, today announced the results of operations for the first quarter ended March 31, 2006. Financial and operating highlights for the quarter include:
* Record non-GAAP revenue of $14.5 million, an increase of 109% percent over the comparable period last year on an as-reported basis and 37% on an organic basis. Non-GAAP revenue includes $1.1 million in deferred revenue related to the companys merger with Visual Sciences. The first quarter of 2006 includes the results of operations from Visual Sciences from the period beginning February 1, 2006.
* GAAP revenue of $13.4 million, an increase of 93% over the comparable period last year on an as-reported basis and 20% on an organic basis.
* Raised non-GAAP revenue guidance for the second quarter of 2006 from between $15.8 million and $16.4 million to between $16.0 million and $16.7 million, and raised GAAP revenue guidance for the second quarter of 2006 from between $14.6 and $15.2 million to between $14.7 and $15.4 million.
* Non-GAAP earnings per share of $0.12, compared to previously issued guidance of $0.10 to $0.12 per share. Non-GAAP earnings per share excludes stock-based compensation expenses, amortization of intangibles and other non-cash items described below. On a GAAP basis, the company reported a loss of $0.09 per share.
* Strong year-over-year organic revenue growth from core product lines, including 40% growth in the Active Marketing Suite, comprised of HBX, Search and Publish, and 55% growth in the Visual Sciences business unit.
* Signing of 120 new contracts for various modules of the WebSideStory Active Marketing and Visual Sciences suites, surpassing 1,300 enterprise customers worldwide.
* The companys 10th consecutive quarter of positive cash generation and non-GAAP profitability, including non-GAAP net income of $2.3 million, which includes deferred revenue related to the Visual Sciences merger and excludes stock-based compensation, amortization of intangibles and other non-cash items. On a GAAP basis, the company reported a net loss of $1.7 million for the quarter.
We are pleased to post another strong quarter, highlighted by record non-GAAP revenue and strong cash generation, while continuing to deliver new and innovative products that are changing the landscape of digital marketing and real-time enterprise analytics, said Jeff Lunsford, chairman and CEO of WebSideStory. Our customers are now seeing the synergies of the Active Marketing Suite in action, as exemplified by the recent launch of WebSideStory Search 4.0, the first site search solution to automatically integrate site search with web site behavioral data. As part of a live test, Brooks Brothers enjoyed a 25 percent increase in online sales from visitors using site search, directly attributable to this innovative capability. Additionally, demand for HBX and Visual Sciences solutions continues to meet or exceed our goals as real-time web analytics and real-time enterprise intelligence are gaining mainstream recognition as required capabilities for competing in the global marketplace.
About WebSideStory, Inc.
Founded in 1996, WebSideStory, Inc. (Nasdaq: WSSI) is a leading provider of on-demand digital marketing and customer analytics solutions that improve online marketing, sales and business operations. Its Active Marketing Suite(TM) consists of web analytics, site search, web content management, and keyword bid management. WebSideStory also provides customer analytics solutions through its wholly owned subsidiary, Visual Sciences, LLC, a leading provider of streaming data analysis and visualization software. WebSideStory is headquartered in San Diego, California, and has European headquarters in Amsterdam, The Netherlands. For more information, contact WebSideStory. Voice: 858.546.0040. Fax: 858.546.0480. Address: 10182 Telesis Court, 6th Floor, San Diego, CA 92121. Web site: www.WebSideStory.com. HBX and Active Marketing Suite are trademarks and WebSideStory is a registered trademark of WebSideStory. Visual Sciences is a registered trademark of Visual Sciences, LLC. Other trademarks belong to their respective owners.
Source: WebSideStory
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