8x8, Inc. Announces Record Financial Results for Fourth Quarter

Updated: May 17, 2012

8x8, Inc. Announces Record Financial Results for Fourth Quarter

8x8, Inc., announced their operating results for the fourth quarter and fiscal year ended March 31, 2012.

Fourth Quarter Fiscal 2012 Financial Results

-- Total revenue for the quarter increased 33% year over year to a record $24.2 million.

-- Revenue from business customers increased 44% year over year to $22.8 million.

-- Average monthly revenue per business customer was $244, compared with $204 in the same period last year.

-- Average number of services subscribed to per business customer grew to 9.8 from 8.0 in the same period last year.

-- Business customer churn was 2.0%, compared with 2.3% in the fourth quarter of fiscal 2011; revenue churn was 1.6%.

-- Gross margin at 68.4%; service margin was 76.1%.

-- GAAP net income was $63.9 million, or $0.87 per diluted share, compared with $2.0 million, or $0.03 per share, for the fourth quarter of fiscal 2011 (includes a one-time non-cash income tax benefit of $62.1 million associated with the release of a deferred tax asset valuation allowance in the fourth fiscal quarter).

-- Non-GAAP net income (as outlined in the reconciliation table below) was $3.0 million, or $0.04 per diluted share, compared with $2.3 million, or $0.03 per diluted share, in the same period last year.

-- Balance sheet grew by $2.4 million to end the quarter with $24.4 million in cash, cash equivalents and investments.

Full Year Fiscal 2012 Financial Results

-- Total revenue was a record $85.8 million, a 22% increase over revenue of $70.2 million for fiscal 2011.

-- Revenue from business customers was $79 million, a 30% increase over revenue of $61 million in fiscal 2011.

-- GAAP net income was $69.2 million, or $0.99 per diluted share, compared with $6.5 million, or $0.10 per share, for fiscal 2011 (includes a one-time non-cash income tax benefit of $62.1 million associated with the release of a deferred tax asset valuation allowance in the fourth fiscal quarter).

-- Non-GAAP net income (as outlined in the reconciliation table below) was $10.3 million, or $0.15 per diluted share, compared with $7.1 million, or $0.11 per diluted share, for fiscal 2011.

-- Gross margin as a percentage of sales in fiscal 2012 was 67.5%, compared with 67.8% for fiscal 2011.

-- Net cash provided by operating activities grew to $9.2 million, compared with $8.6 million in fiscal 2011.

-- Cash, cash equivalents and investments increased $6.0 million in fiscal 2012; share repurchases totaled $2.9M for fiscal year 2012.

Featured Research
  • 15 Tools for Managing Remote Call Center Agents

    Together, technology and the connective power of the internet are making drastic changes in what a typical work setting looks like today, and many companies are beginning to rely more upon a remote workforce. In fact, according to Global Workplace Analytics, “regular work-at-home, among the non-self-employed population, has grown by 105% since 2005.” more

  • 2017 Contact Center Software Trends

    Did you know that, according to Forbes, 86 percent of customers will pay more for a better customer experience? Customer satisfaction is always a worthy business pursuit, but to identify customer preferences and exceed expectations, you must keep pace with innovations in the technology your customers are using. more

  • How to Select Contact Center Software in 9 Steps

    Your choice of contact center software will affect the future success of your business. Don’t leave this important decision to chance. This guide provides nine actionable steps for the selection process. more

  • Hidden Costs of Contact Center Software

    Creating a great customer experience for each person who reaches out to your customer support center is vital to developing a loyal and ravenous customer base for your business. In fact, according to Walker Information, Inc., “By 2020, customer experience will overtake price and as the key brand differentiator.” more

  • Top 11 Contact Center Vendors in 2017

    With the ever-proliferating number of contact center software vendors, it can be difficult to determine which software application is right for your business. This guide for 2017 includes information about eleven top contact center vendors, including information on pricing, features, and strengths and weaknesses. more

Related Articles