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
  • 9 Spooky Signs You Need a Contact Center Upgrade

    When was the last time you evaluated the performance of your current contact center and the software you are using? The results may be frightening! If it’s been awhile since you invested in contact center software, there is a good chance that your needs have changed or that there are better options available now. Fortunately, it’s relatively easy to determine if you need an upgrade or not. more

  • Eight Ways You Should Be Using Contact Center Reporting

    Every day, your contact center collects critical data that can be used to drive strategic improvements to your efforts in the future. But that data is meaningless if you don’t know how to access and analyze it. The key to do doing both is using reporting features. By understanding how to use reporting tools, you will gain much greater insight from the data you are collecting. more

  • Top 10 Customer Service Trends in 2017

    Customer service plays a HUGE role in the success of your business. In order to remain competitive companies must be ready to provide modern customer experiences that meet customer needs. If you haven't already invested in updating your customer service experience you are already behind. By 2018 more than half of companies will redirect investments towards innovations in customer experience. more

  • The Role of Self-Service in Modern Contact Centers

    By 2020, 85% of customers' relationships with companies will be managed without any contact with human services representatives. What does that mean for your business? The data shows that companies need to offer effective self-service options in order to remain competitive. However, many contact centers are confused about how their core contact center software fits into self-service. more

  • Tips and Tools for a Positive Contact Center Environment

    When it comes to stressful environments within the business world, it is no secret that the contact center frequently makes the list of one of the most stressful. This elevated level of stress leads to high agent attrition rates, and thus subsequently additional costs on your business to find, hire and train new employees. more

Related Articles