8X8, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Reports Impairment of Long-Lived Assets for the Third Quarter Ended December 31, 2016; Provides Earnings Guidance for Fiscal 2017
January 25, 2017 at 09:05 pm
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8x8, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, total revenue was $63,676,000 against $53,168,000 a year ago. Loss from operations was $1,703,000 against $2,509,000 a year ago. Loss from operations before benefit for income taxes was $1,295,000 against $2,237,000 a year ago. Net loss was $1,325,000 against $1,680,000 a year ago. Net loss per basic and diluted share was $0.01 against $0.02 a year ago. Non-GAAP net income was $5,761,000 against $4,299,000 a year ago. Non-GAAP net income per share – diluted was $0.06 against $0.05 a year ago. Non-GAAP income from operations was $5,334,000 against $3,796,000 a year ago.
For nine months, total revenue was $186,900,000 against $152,003,000 a year ago. Loss from operations was $2,983,000 against $4,103,000 a year ago. Loss from operations before benefit for income taxes was $1,774,000 against $3,393,000 a year ago. Net loss was $1,826,000 against $4,044,000 a year ago. Net loss per basic and diluted share was $0.02 against $0.05 a year ago. Net cash provided by operating activities was $22,220,000 against $15,384,000 a year ago. Purchases of property and equipment were $6,509,000 against $3,295,000 a year ago. Cost of capitalized software was $3,939,000 against $1,275,000 a year ago. Non-GAAP net income was $16,534,000 against $11,767,000 a year ago. Non-GAAP net income per share – diluted was $0.18 against $0.13 a year ago. Non-GAAP income from operations was $15,481,000 against $11,347,000 a year ago.
For the quarter, the company reported impairment of long-lived assets of $15 million against $640 million a year ago.
The company maintained its annual guidance of revenue for fiscal 2017 in the range of $251.0 million to $254.0 million and raised non-GAAP net income guidance to a range of $18.0 to $20.0 million, representing non-GAAP net income as a percent of revenue of 7.0% to 8.0%, from previously issued non-GAAP net income guidance in the range of $16.0 million to $20.0 million.
8x8, Inc. is a provider of software-as-a-service solutions for contact centers, voice communications, video meetings, employee collaboration, and embeddable communication application programming interfaces (API). The Companyâs communications platform solutions comprise the 8x8 XCaaS platform, which is an integrated contact center, voice communications, video, chat, and SMS solution built on one global cloud communications platform. Its integrated technology platform includes 8x8 Work, 8x8 Contact Center, 8x8 Engage and 8x8 X Series. Its 8x8 Work is an end-to-end unified communications as a service solution that delivers enterprise-grade voice services, secure video meetings, and unified messaging including direct messages, public and private team messaging rooms, and peer-to-peer short and multimedia messaging, or SMS/MMS. 8x8 Contact Center is a cloud-based contact center as-a-service solution that includes omnichannel customer engagement, advanced analytics, and other features.
8X8, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Reports Impairment of Long-Lived Assets for the Third Quarter Ended December 31, 2016; Provides Earnings Guidance for Fiscal 2017
8X8, INC. 
