Incontact Inc (NASDAQ:SAAS) earnings show strong bookings but a bottom-line loss for the period. The company, which provides cloud contact center software and contact center optimization tools, reported revenue for the quarter at $30.3 million. That is an increase of 56% over the same quarter in 2013. Software and software that is related to network connectivity added $47 million to the top-line total. That was a 45% growth over the same period. For the year, the company totaled revenue of $171.8 million. This is a 32% increase from the same period 2013.
Incontact Inc (NASDAQ:SAAS) showed a bottom-line loss of $5.6 million, or ($0.09) per share. They stated the loss was due to depreciation and other charges that totaled $1.9 million. This was mostly due to their acquisition of Uptivity. The year-end loss was positively affected by a tax-credit of $9.4 million.
The company stated they felt 2014 was a great year and impressed that they have improved cloud market share. They claim they had record bookings and customer expansions also. Revenue growth was strong but Incontact Inc (NASDAQ:SAAS) still showed a loss for the year and quarter, putting a slight damper on results. Bookings grew 44% year-over-year and they also closed 109 contracts that included 66 logo customers and 42 expansion deals. They totaled 390 new contracts that featured 222 customers along with 168 expansions.
The company estimates revenues for 2015 to be anywhere from $205 to $210 million. They also predict a 22% growth rate for software revenues. A net loss is expected of between 12 and 17 cents per share. Incontact Inc (NASDAQ:SAAS) creates customer and contact centers utilizing the cloud services and software of its portfolio. They are the only provider of cloud contact infrastructure and offer clients a complete package covering the whole user experience.
The stock has broken out and is starting to settle at a new level. Momentum is stable but the issue is becoming over bought quickly.