Perficient liefert schöne Zahlen ab.
AUSTIN, Texas, Jan 27, 2004 (BUSINESS WIRE) -- Perficient, Inc. (PRFT) a leading eBusiness solutions provider to Global 3000 companies in the central United States, today reported financial results for the quarter and year ended December 31, 2003.
Financial Highlights
For the fourth quarter ending December 31, 2003:
-- Revenue from services and software was up 34% to $7,476,973
versus $5,585,826 during the fourth quarter of 2002. This
exceeds the fourth quarter 2003 revenue guidance range of $6.0
million to $6.3 million previously provided by the company.
-- Reported net income was $533,844 or $0.03 earnings per share
compared to a net loss of ($679,199) or ($0.08) per share
during the fourth quarter of 2002.
-- Gross margin for services revenue was 45% compared to 43% in
the fourth quarter of 2002. Gross margin for software revenue
was 25%, compared to 7% in the fourth quarter of 2002.
-- EBITDA (a non-GAAP measure) was up to $977,656 versus
($72,693) during the fourth quarter of 2002.
For the year ended December 31, 2003:
-- Revenue from services and software was up 36% to $28,321,481
versus $20,794,476 during 2002.
-- Reported net income was $1,050,032 or $0.07 earnings per share
compared to a net loss of $2,395,044 or ($0.53) per share
during 2002.
-- Gross margin for services revenue was 43% in 2003 and 2002.
Gross margin for software revenue was 19%, compared to 15% in
2002.
-- EBITDA (a non-GAAP measure) was up to $3,382,405 versus
($236,060) during 2002.
"Q4 was a great close to a solid year for Perficient," said Jack McDonald, chairman and chief executive. "We generated a record $978,000 in EBITDA, in what is typically a weak quarter due to seasonality. Our revenue was up 34% over Q4 of 2002, in part due to strong year-end software sales.
"On a full year basis, our revenue grew 36% in 2003 over 2002, a strong performance in a transitional market environment, and we achieved record full-year EBITDA of $3,382,000. During 2003, we opened more than two dozen new accounts, extended relationships with recurring clients, renewed our partnership with IBM and continued to recruit and retain top-notch sales and technical talent. In addition, we repaid $1.5 million in debt during 2003 to close the year with no amounts owed on our line of credit or capital leases."
Other 2003 Highlights
Among other achievements in 2003, Perficient:
-- Added new customer relationships and follow-on projects with
leading companies including: AAA Michigan, Amdocs, Ameren UE,
Anderson Corp, Anheuser-Busch, Bank of America, BIC
Corporation, Boeing, CareMark, Commerce Bancshares, Exelon,
Express-Scripts, GE Capital, KV Pharmaceuticals, Maytag
Corporation, MetLife, Mutual Trust Life, Nestle-Purina,
Paragon Life, Pioneer Seed, Prime Therapeutics, Sheetz,
ShopNBC, State of Kansas, Thrivent Financial Services, Union
Bank of California, and Wells Fargo Mortgage Company.
-- Developed and launched in partnership with IBM vertical portal
solutions for the insurance, health care and franchise-based
retail industries designed to increase efficiencies, reduce
operating costs and strengthen relationships with customers,
employees and business partners.
-- Executed alliance agreements with leading technology companies
including Mainline Information Systems, Bowstreet, Inc. and
Fusion Technologies of India. All three relationships
strengthen Perficient's solution sales and implementation
capabilities and open new revenue opportunities.
-- Was recognized by VARBusiness magazine for the second
consecutive year as a member of the VARBusiness 500, an annual
listing of the top solution providers in the United States by
revenue; and
-- Was ranked #151 in Deloitte & Touche's 2003 Fast500, a listing
of the 500 fastest growing technology companies in North
America, from 1998-2002 and #9 on the 2003 Texas Fast50.
Business Outlook
The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially.
The company expects its Q1 2004 services and software revenue, net of reimbursed expenses, to be in the range of $6.5 million to $6.9 million, comprised of $6.1 million to $6.5 million in services revenue and $0.4 in software revenue. It is the company's practice to include in its revenue guidance only those software sales actually booked as of the guidance date. The forecast range of services revenue would represent services revenue growth of 6% to 13% over the first quarter of 2003.
Truth is stranger than fiction, because fiction has to make sense
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