SoundBite Communications Reports Fourth Quarter and Year End 2012 Financial Results

SoundBite Communications, Inc., a provider of customer experience management solutions, today announced its financial results for the fourth quarter and full year 2012. Fourth quarter revenues, computed in accordance with U.S. generally accepted accounting principles (GAAP), were $13.9 million, an increase of 16% compared to the same quarter in 2011. On a full year basis, GAAP revenues for 2012 were $48.1 million, a 15% increase over 2011. GAAP operating income for the fourth quarter of 2012 was $433,000. GAAP net income for the fourth quarter of 2012 was $469,000, or $0.03 per share, versus net income of $391,000 or $0.02 per share in the fourth quarter of 2011.

On a non-GAAP basis, after excluding non-cash stock-based compensation expense, amortization of intangible assets, a present value adjustment related to the SmartReply contingent consideration, and a tax benefit, net income was $1.1 million or $0.07 per share in the fourth quarter compared to $1.0 million or $0.06 per share in the same quarter in 2011.

We are very pleased with our strong fourth quarter financial performance, exceeding our original forecast as well as our preannouncement in January. These results were driven by a seasonally strong performance in our mobile marketing business and increased demand in our hosted contact center business, stated Jim Milton, president and CEO of SoundBite Communications. The fourth quarter was also an important and successful quarter by other business measures. SoundBite took a clear leadership position for our industry; championing efforts resulting in a positive declaratory ruling from the FCC for confirmatory opt-out text messages. As a result, our TCPA related class action cases have been dismissed. And based on the improving confidence in our business, we paid a special one-time dividend in December of $0.50 per share.

Milton continued,We continued our transformation in 2012 - growing our mobile channel, delivering improving financial results, and expanding offerings in the marketing, proactive customer care and collections and payments lifecycles. For 2013, I am optimistically looking forward to continuing our momentum across the lifecycle, expanding our global reach, building our channel partnerships, reaching sustainable profitability, and enabling our clients to deliver the best customer experience possible.

Recent Highlights

Released an enhanced multi-channel compliance suite for contact centers, enabling organizations to mitigate risks and meet compliance requirements.
Secured a favorable Declaratory Ruling from the Federal Communications Commission (FCC) on confirmatory opt-out text message compliance.
Announced a complaints solution for financial services organizations striving to meet the U.K. Financial Services Authority (FSA) regulatory and compliance requirements.
Declared a special dividend to stockholders, paid in December 2012, of $0.50 per share.
Announced a positive end to the class action law suits against GameStop, and Bank of America/SoundBite related to confirmatory opt-out text messages.

Quarterly Results

GAAP Results
Gross margin for the fourth quarter of 2012 was 63.4% versus 61.2% in the fourth quarter of 2011. Operating expenses were $8.4 million in the fourth quarter of 2012 and as a percentage of revenues were 60.3% versus 57.8% in the year-earlier period.

Operating income for the fourth quarter was $433,000, compared to $397,000 in the same quarter last year.

Net income was $469,000 for the fourth quarter of 2012 versus net income of $391,000 in the fourth quarter of 2011. Net income per share for the fourth quarter of 2012 was $0.03, versus $0.02 in the same quarter of 2011.

Non-GAAP Results
Fourth quarter 2012 non-GAAP net income was $1.1 million or $0.07 per share, compared to a non-GAAP net income of $1.0 million or $0.06 per share for the same period in 2011. Non-GAAP net income computations exclude amortization expense, stock-based compensation expense, a present value adjustment of the contingent consideration related to the SmartReply earn-out, and a tax benefit. A reconciliation of GAAP net income to non-GAAP net income is included with the financial tables at the end of this release.

Non-GAAP free cash flow, calculated as cash flow from operating activities, less payments, if any, of contingent purchase price related to the Mobile Collect and SmartReply acquisitions, and purchases of property and equipment, for the fourth quarter resulted in a negative free cash flow of $819,000. A reconciliation of GAAP cash flows (used in) generated from operating activities to non-GAAP free cash flow is included with the financial tables at the end of this release.

Adjusted EBITDA
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the fourth quarter of 2012 was $1.5 million versus $1.4 million in the fourth quarter of 2011, reflecting an 8% increase over prior year. Adjusted EBITDA reflects EBITDA excluding the effects of stock-based compensation expense and present value adjustments of the contingent consideration related to the SmartReply earn-out in the fourth quarter 2012 and 2011. A reconciliation of net income (loss) to Adjusted EBITDA is included with the financial tables at the end of this release.

First Quarter Guidance

Based on information available as of February 21, 2013, SoundBite is issuing guidance for the first quarter 2013 as follows:

SoundBite currently projects revenues in the range of $11.1 million to $11.8 million and gross margin in the range of 59% to 61% for the first quarter of 2013. Operating expenses are expected to be approximately $8.4 million. The projection for GAAP net loss is in the range of $1.3 million to $1.8 million and on a per share basis is a net loss of $0.08 to $0.11 for the first quarter of 2013.

The non-GAAP projections are for a non-GAAP net loss of $400,000 to $900,000, or $0.03 to $0.06 per share. Non-GAAP estimates exclude the effects of the amortization of intangible assets of approximately $400,000 associated with the Companys acquisitions of SmartReply and 2ergo Americas, estimated stock-based compensation expense of approximately $250,000, severance expenses of approximately $200,000, and a present value adjustment of the contingent consideration related to the SmartReply earn-out of approximately $40,000. On an adjusted basis, SoundBite is projecting earnings before interest, taxes, depreciation and amortization to be breakeven to a loss of $600,000. These projections assume a basic weighted share count of approximately 16.5 million shares for the first quarter of 2013. SoundBite expects capital expenditures to be approximately $350,000 and depreciation expense to be approximately $400,000.

Webcast and Teleconference Information
The Company will host a conference call today at 5:00 pm. ET to discuss its financial results. A live and archived webcast of the event will be available at ir.soundbite.com. A live dial-in is available in the U.S. at + 1 866 362 4666 and outside the U.S. at +1 617 597 5313, and using the passcode: 23977065. A replay of the call will be available approximately two hours after the call completes and can be accessed by dialing +1 888 286 8010 in the U.S. and outside the U.S. at +1 617 801 6888 and entering the passcode: 73116708.

Non-GAAP and Adjusted Measures
To supplement its statements of operations information presented in accordance with GAAP, SoundBite presents information with respect to non-GAAP net income (loss), non-GAAP free cash flow and Adjusted EBITDA. SoundBite has included in this release reconciliations of GAAP net income (loss) to non-GAAP net income (loss), GAAP cash flows (used in) generated from operating activities to non-GAAP free cash flow, and GAAP net income to Adjusted EBITDA. SoundBite believes these supplemental measures are often used by investors as measures of financial performance in evaluating technology companies such as SoundBite and also believes these financial measures can enhance investors overall understanding of SoundBites historical financial performance. The presentation of these supplemental financial measures should not be considered in isolation from, or as a substitute for, SoundBites financial results reported in accordance with GAAP. SoundBite may compute these supplemental financial measures differently from other companies, which would reduce their usefulness as comparative measures.

About SoundBite Communications
SoundBite Communications (SoundBite.com) is a customer experience management company with deep expertise in delivering cloud-based mobile marketing, proactive customer care, and collections/payments solutions. More than 450 global end-clients, including nearly 50 Fortune 500 companies, leverage SoundBites proactive multi-channel communications and preference management platforms to power 2.5 billion personalized and compliant customer interactions annually across the full consumer lifecycle.

Forward-Looking Statement
This is a safe harbor statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained in this press release, including statements made under First Quarter Guidance, are based upon SoundBites historical performance and its current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by SoundBite, its management or any other person that the future plans, estimates or expectations contemplated by SoundBite will be achieved. These forward-looking statements represent SoundBites expectations as of the date of this press release. Subsequent events may cause these expectations to change and SoundBite disclaims any obligation to update the forward-looking statements in the future. Matters subject to forward-looking statements involve known and unknown risks and uncertainties, including: slower than anticipated development of the market for automated voice messaging services; defects in SoundBites platform; disruptions in its service or errors in its execution; discontinued or decreased use of SoundBites service by its clients, which are not subject to minimum purchase requirements for any reason, including market conditions and regulatory developments; and the occurrence of events adversely affecting the collection agencies industry or in-house collection departments, which account for a significant portion of SoundBites revenues. These and other factors, including the factors set forth under the caption Item 1A. Risk Factors of Part II in SoundBite's most recent quarterly report on Form 10-Q filed with the Securities and Exchange Commission, could cause SoundBite's performance or achievements to be materially different from those expressed or implied by the forward-looking statements.

SoundBite is a registered service mark of SoundBite Communications, Inc.

Article source: Newswire Today

Source:
SoundBite Communications Reports Fourth Quarter and Year End 2012 Financial Results

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SCHOTT Plans to Grow through its Core Businesses in 2013
Strong market position in the areas of Pharmaceutical Systems, Home Tech, Electronic Packaging and Advanced Materials;Withdrawal from polycrystalline photovoltaics to leave no lasting adverse effects...

SCHOTT Plans to Grow through its Core Businesses in 2013

Strong market position in the areas of Pharmaceutical Systems, Home Tech, Electronic Packaging and Advanced Materials;
Withdrawal from polycrystalline photovoltaics to leave no lasting adverse effects on the company;
Investments in tangible fixed assets to increase to 150 million euros in 2012/2013.

Because we still have so much innovation potential in each of these areas, we currently have no plans to enter into new segments, but will be relying on organic growth instead, Prof. Udo Ungeheuer, Chairman of the Board of Management, emphasized at the annual results press conference. Each year, the Pharmaceutical Systems division manufactures special glass tubing and approximately 9 billion syringes, vials, ampoules and cartridges made of special glass and polymers. The Home Tech division, on the other hand, includes the strong brands Ceran glass-ceramic cooktop panels and Robax fireplace viewing panels. Electronic Packaging develops and manufactures advanced high-tech components for the electronics, automotive, energy and medical technology industries. All in all, SCHOTT expects to see a 3% increase in sales, improved results of operational activities (EBIT) and consolidated net profit in the mid-double-digit million range.

Fiscal year 2011/2012: Weak global economy and debt crisis had negative impact on business
SCHOTT looks back on a difficult fiscal year 2011/2012. Besides lower sales volumes due to the slowdown in economic growth of the global economy, declines in price levels in certain fields and the weaker project business, which the company had anticipated, resulted in a 5% decline in sales to 2.01 billion euros (2010/2011: 2.12 billion euros). The regional distribution between Europe (43.9 percent), Asia (26.2 percent) and North America (23.3 percent) remained relatively stable. SCHOTT generated 86 percent of its total sales outside of Germany.

The difficult economic conditions, but also the development of the Photovoltaics division, had a significant impact on the past fiscal year. Massive excess capacity among module suppliers resulted in significant sustained declines in prices driven mainly by Asian competitors. Furthermore, unstable political conditions with respect to support for renewable energy in various countries exerted enormous pressure on the photovoltaics business. Due to the fact that no return to profitable growth could be expected for this industry, SCHOTT Solar AG decided to withdraw from the polycrystalline photovoltaics business in mid-2012. Pursuant to the regulations of IFRS 5 concerning the presentation of discontinued operations in the income statement for the year under review and the prior year, the Photovoltaics division was reclassified as profit (loss) from discontinued operations.

The results of operational activities (EBIT) amounted to 138 million euros in fiscal year 2011/2012 following 214 million euros the previous year. The declines in volumes and prices compared to last year could not be fully compensated for by increases in productivity and cost reductions. Furthermore, one-time factors, restructuring measures, in particular, had a negative effect on EBIT. The discontinued polycrystalline Photovoltaics division was largely responsible for the consolidated net loss of 278 million euros (previous year: consolidated net profit of 109 million euros). On September 30, 2012, the SCHOTT Group had 16,100 employees all over the world, 5,500 of whom are based in Germany.

Cautious optimism for fiscal year 2012/2013
SCHOTT also finds itself facing difficult conditions in the current fiscal year due to the current slowdown in the growth of the global economy and the ongoing European debt crisis. We still feel that we are well-prepared for this challenging environment and look forward to the future with optimism. One main reason is that we generate well over half of our sales in areas in which we rank among the world's leaders, Prof. Ungeheuer explained.

In addition, a number of very promising products are currently being launched. These include XensationTM Cover, an extremely strong cover glass for use in smartphones, the high-performance glassceramic NEXTREMATM that demonstrates its strength particularly in high-temperature environments of between 400 and 950 degrees Celsius, Pyranova secure, a safety glass product that prevents fire, smoke and heat radiation from spreading in the event of a fire and also offers protection against break-ins and small arms fire, as well as the high-purity glass optical fiber PURAVISTM for use in medical and industrial applications. Furthermore, SCHOTT currently has the capability of manufacturing the world's thinnest glass with the help of a continuous production process and then rolling it up onto a roll. This ultra-thin material only 25 micrometers thick a human hair is between 80 and 120 micrometers thick thus offers advantages in the area of industrial processing, for instance in electronics or lighting technology on the basis of OLEDs. In addition, SCHOTT is also currently developing components for innovative lithium-air batteries for use in electric and hybrid vehicles. The goal is to improve their reliability and increase their life expectancy.

SCHOTT expects growth impulses for its business to come mainly from Asia in 2013. The technology group already has 12 manufacturing sites and 7 sales offices here that employ a staff of 3,000. Japan, China and India are its most important markets. By opening a state-of-the-art plant in India at the beginning of February, SCHOTT has further extended its strategic position in the Asian pharmaceutical packaging market. The new production site in Jambusar in the state of Gujarat is considered to be the first fully automatic production facility for pharmaceutical packaging on the subcontinent and currently includes 20 manufacturing lines for ampoules and 16 lines for vials.

SCHOTT (schott.com) also plans to increase its investments in tangible fixed assets in fiscal year 2012/2013. Whereas only 99 million euros were spent in 2011/2012, 150 million euros in investments are planned for investment this year. The main focuses will be on the areas Pharmaceutical Systems, Optics and Home Tech.

Article source: Newswire Today

Source:
SCHOTT Plans to Grow through its Core Businesses in 2013

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The Deep Roots of Catastrophe

SALT LAKE CITY, Feb. 7, 2013 A University of Utah seismologist analyzed seismic waves that bombarded Earths core, and believes he got a look at the earliest roots of Earths most cataclysmic kind of volcanic eruption. But dont worry. He says it wont happen for perhaps 200 million years.

What we may be detecting is the start of one of these large eruptive events that if it ever happens could cause very massive destruction on Earth, says seismologist Michael Thorne, the studys principal author and an assistant professor of geology and geophysics at the University of Utah.

But disaster is not imminent, he adds, This is the type of mechanism that may generate massive plume eruptions, but on the timescale of 100 million to 200 million years from now. So dont cancel your cruises.

The new study, set for publication this week in the journal Earth and Planetary Science Letters, indicates that two or more continent-sized piles of rock are colliding as they move at the bottom of Earths thick mantle and atop the thicker core some 1,800 miles beneath the Pacific. That is creating a Florida-sized zone of partly molten rock that may be the root of either of two kinds of massive eruptions far in the future:

-- Hotspot plume supervolcano eruptions like those during the past 2 million years at Wyomings Yellowstone caldera, which covered North America with volcanic ash.

-- Gargantuan flood basalt eruptions that created large igneous provinces like the Pacific Northwests Columbia River basalts 17 million to 15 million years ago, Indias Deccan Traps some 65 million years ago and the Pacifics huge Ontong Java Plateau basalts, which buried an Alaska-sized area 125 million to 199 million years ago.

These very large, massive eruptions may be tied to some extinction events, Thorne says. The Ontong eruptions have been blamed for oxygen loss in the oceans and a mass die-off of sea life.

Since the early 1990s, scientists have known of the existence of two continent-sized thermochemical piles sitting atop Earths core and beneath most of Earths volcanic hotspots one under much of the South Pacific and extending up to 20 degrees north latitude, and the other under volcanically active Africa.

Using the highest-resolution method yet to make seismic images of the core-mantle boundary, Thorne and colleagues found evidence the pile under the Pacific actually is the result of an ongoing collision between two or more piles. Where they are merging is a spongy blob of partly molten rock the size of Florida, Wisconsin or Missouri beneath the volcanically active Samoan hotspot.

The studys computer simulations show that when these piles merge together, they may trigger the earliest stages of a massive plume eruption, Thorne says.

Thorne conducted the new study with Allen McNamara and Edward Garnero of Arizona State University, and Gunnar Jahnke and Heiner Igel of the University of Munich. The National Science Foundation funded the research.

Probing the Deep Earth with Seismic Waves

Seismic imaging uses earthquake waves to make images of Earths interior somewhat like X-rays make CT scan pictures of the inside of the human body.

The new study assembled the largest set of data ever used to map the lower mantle in the Pacific region by using 4,221seismograms from hundreds of seismometers around the world that detected 51 deep earthquakes originating more than 60 miles under the surface.

Thorne and colleagues looked for secondary earthquake shear waves known as S-waves that travel through much of the Earth, hitting the core, and then convert to primary compressional waves or P-waves as they travel across the top of the core. Then they convert back to S-waves as they re-enter the mantle and then reach seismometers. Thorne says the short bursts of P-wave energy are very sensitive to detecting variations in the rock at the core-mantle boundary.

Thorne performed 200 days of supercomputer simulations at the University of Utahs Center for High Performance Computing. He simulated hundreds of possible shapes of the continent-sized piles and state-sized blobs until he found the shapes that could best explain the seismic wave patterns that were observed.

A Look at the Core-Mantle Boundary

The new study provided an unusual look at one of the most remote parts of the Earth, located about 1,800 miles beneath the surface: the boundary between the planets molten outer core and its warm mantle rock, which has convection movement that has been compared with a conveyor belt or slowly boiling tomato soup. (Tectonic plates of Earths crust and uppermost mantle drift atop the warmer, convecting lower mantle.)

We did hundreds of simulations for lots of different variations of what the Earth might look like at the core-mantle boundary the most simulations anybody has ever done to look at the core-mantle boundary structure, Thorne says

At some places where oceanic and continental tectonic plates collide such as offshore from the Pacific Northwest to Alaska the seafloor plate dives or subducts beneath the continent and plunges slowly into the mantle. Thorne suspects subducting plates ultimately fall deep enough to help push the piles around on Earths core.

Whether hotspots originate at the core-mantle boundary or at shallower depths has been debated for decades.

But in the 1990s, geophysicists found evidence for the continent-size thermochemical piles beneath Africa and the Pacific. These are known technically as LLSVPs, or large low shear velocity provinces, because seismic shear waves passing through them move 5 percent slower that through surrounding mantle rock. That suggests they have a different composition and-or temperature than the surrounding mantle.

Previous studies also have observed smaller blobs of rock, measuring perhaps 60-by-60 miles on the edges of the continent-sized masses. Seismic shear waves move as much as 45 percent slower through these blobs known technically as ULVZs or ultra low velocity zones indicating they may be spongy and partly molten.

Thorne says his analysis of seismic waves passing through the core-mantle boundary reveals the Pacific pile really represents two or more continent-sized piles slowly sliding atop the core and colliding so that partly molten blobs on their edges are merging into the largest such blob or ULVZ ever observed roughly the size of Florida.

My study might be the first to show actual seismic evidence that the piles are moving, he says. People who have done previous simulations have suggested this. They are sitting atop the core and getting pushed around by overlying mantle forces like subduction. They move around on the core somewhat like continental plates drift at Earths surface.

Thorne says the merging LLSVP piles are each about 1,800 miles diameter, forming a single pile some 3,600 miles wide from east to west and stretching across Earths core beneath an area from Australia almost to South America. Two blobs, or ULVZs, on the piles edges merged to form a new blob that is perhaps 6 to 10 miles thick and covers an area about 500 miles long and 150 miles wide, about the area of Florida or eight to 10 times larger than any ULVZs we observed before, Thorne says.

Because the larger piles havent fully merged, seismic imaging shows there is a depression or hole between them, and the Florida-sized blob is forming there as smaller UVLZs merge in the hole.

We are actually seeing that these piles are being shoved around, Thorne says. If hotspots actually are generated near the core-mantle boundary, where they are being generated seems related to where these piles and ULVZs are. So if we are pushing these piles around, we also are pushing around where hotspot volcanism may occur.

Warmer rock is less dense than cooler rock. Thorne says that where the ULVZ blobs form seems to be related to where the hot rock starts convecting upward to begin the long, slow process of forming a plume that eventually causes massive eruptions.

University of Utah Communications
201 Presidents Circle, Room 308
Salt Lake City, Utah 84112-9017
801-581-6773 fax: 801-585-3350
www.unews.utah.edu

News source: NewsWise

Source:
The Deep Roots of Catastrophe

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