GAITHERSBURG, MD — (MARKET WIRE) — 02/29/12 — BroadSoft, Inc. (NASDAQ:BSFT, news, filings), the leading global provider of Internet protocol-based, or IP-based, communications services to the telecommunications industry, today announced record fourth quarter and twelve months results for the period ended December 31, 2011.
Financial Highlights for the Fourth Quarter of 2011
- Total revenue increased 13% year-over-year to $40.6 million
- GAAP gross profit equaled 83% of total revenue; non-GAAP gross profit equaled 85% of total revenue
- GAAP income from operations totaled $8.5 million or 21% of revenue; non-GAAP income from operations totaled $11.4 million or 28% of revenue
- GAAP diluted EPS equaled $0.19 per common share; non-GAAP diluted EPS equaled $0.38 per common share
Financial Highlights for the full year 2011
- Total revenue increased 44% year-over-year to $138.1 million
- GAAP gross profit increased to 82% of total revenue; non-GAAP gross profit increased to 84% of total revenue
- GAAP income from operations totaled $27.4 million or 20% of revenue; non-GAAP income from operations totaled $35.9 million or 26% of revenue
- GAAP diluted EPS equaled $1.15 per common share; non-GAAP diluted EPS equaled $1.23 per common share
Results for the three months ended December 31, 2011
Total revenue rose to $40.6 million in the fourth quarter of 2011, an increase of 13% compared to $35.8 million in the fourth quarter of 2010.
Net income for the fourth quarter of 2011 was $5.5 million, or $0.19 per diluted common share, compared to net income of $11.2 million, or $0.41 per diluted common share, in the fourth quarter of 2010.
On a non-GAAP basis, net income in the fourth quarter of 2011 was $10.6 million, or $0.38 per diluted common share, compared to non-GAAP net income of $12.2 million, or $0.44 per diluted common share, in the fourth quarter of 2010. A reconciliation of non-GAAP and GAAP results is included in the financial tables below.
Results for the year ended December 31, 2011
For the full year, total revenue was $138.1 million, an increase of 44% compared to $95.6 million in 2010.
Net income for the full year of 2011 was $32.3 million, or $1.15 per diluted common share, compared to net income of $8.0 million, or $0.32 per diluted common share, in 2010. GAAP results in 2011 included an income tax benefit of $8.9 million, or $0.32 per diluted common share, resulting from the release of a tax valuation allowance.
On a non-GAAP basis, net income for the full year 2011 was $34.4 million, or $1.23 per diluted common share, compared to non-GAAP net income of $11.8 million, or $0.48 diluted common share, in 2010. A reconciliation of non-GAAP and GAAP results is included in the financial tables below.
Management Commentary
“We believe our fourth quarter and full year results are a testament to the continued momentum of our hosted unified communications and SIP Trunking solutions in the marketplace,” said Michael Tessler, president and chief executive officer, BroadSoft. “In 2011, we continued to aggressively execute on our strategic plan of delivering innovative communications applications to our global service provider customers by significantly enhancing our BroadWorks and BroadCloud products. We also introduced BroadTouch, our user experience clients that place the power of our UC services in the hands of end-users. We are excited by the level of interest our service provider customers have shown in all of these new capabilities.”
“Our strong fourth quarter and annual results were driven by broad-based demand globally from our service provider customers and the addition of several new tier one carrier customers,” said Jim Tholen, chief financial officer, BroadSoft. “Our revenue and net income were significantly above our expectations. We achieved non-GAAP gross profit of 85% of total revenue during the fourth quarter, and non-GAAP operating margins of 28%. In addition, we generated $6.7 million in cash flow from operations and ended the quarter with cash, cash equivalents and investments totaling $192 million.
“Looking forward, we believe the positive trends underlying our business will continue to drive our business, and our market position will continue to strengthen,” said Mr. Tholen. “We believe the market opportunity in front of us is substantial and, as a result, our plan for 2012 is to continue to invest for this long-term opportunity.”
Guidance
For the first quarter of 2012, BroadSoft anticipates revenue of $36 million to $38 million. For the first quarter, the Company expects to achieve earnings on a non-GAAP basis of $0.17 to $0.23 per diluted common share, and on a GAAP basis of $0.00 to $0.04 per diluted common share.
For the full year 2012, BroadSoft expects revenue of $158 million to $162 million. The Company anticipates full year 2012 earnings on a non-GAAP basis of $1.18 to $1.30 per diluted common share and on a GAAP basis of $0.30 to $0.36 per diluted common share.
For our guidance, we define non-GAAP earnings as earnings plus stock-based compensation expense, amortization expense for acquired intangible assets, non-cash interest expense and non cash-tax expense. See detailed explanation and a reconciliation of non-GAAP to GAAP results in the financial tables below.
Conference Call
BroadSoft will discuss its fourth quarter results and business outlook today via teleconference at 4:30 p.m. Eastern Time. To participate in the teleconference, callers can dial the toll free number 1-877-312-5517 (U.S. callers only) or +1-760-666-3772 (from outside the U.S.). The conference call can also be heard live via audio webcast at http://investors.broadsoft.com/events.cfm. To help ensure the conference begins on time, please dial in or connect via the web five minutes prior to the scheduled start time.
For those unable to participate in the live call, an audio replay will be available between 7:30 p.m. Eastern Time February 29, 2012 and 11:59 p.m. Eastern Time March 17, 2012 by calling 1-855-859-2056 or +1-404-537-3406, with Conference ID 41057152. A recording of the call will be available two hours following the conclusion of the call at http://investors.broadsoft.com until March 29, 2012.
BroadSoft has provided in this release, and will provide on this afternoon’s teleconference, financial information that has not been prepared in accordance with generally accepted accounting principles, or GAAP. BroadSoft uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating BroadSoft’s ongoing operational performance. BroadSoft’s management regularly uses these non-GAAP financial measures to understand and manage its business and believes these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain non-cash expenses. BroadSoft may in the future include additional adjustments for items that are infrequent in nature. BroadSoft believes the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in BroadSoft’s industry, many of which present similar non-GAAP financial measures to investors. A reconciliation of the non-GAAP financial measures included in this release and to be discussed on this afternoon’s teleconference to the most directly comparable GAAP financial measures is set forth below.
Non-GAAP net income and net income per common share. BroadSoft defines non-GAAP net income as net income plus stock-based compensation expense, amortization expense for acquired intangible assets and non-cash interest expense on the Company’s convertible notes and excluding the net effect of any non-cash tax expense or benefit. BroadSoft defines non-GAAP income per common share as non-GAAP net income divided by the weighted average common shares outstanding. Also, in calculating non-GAAP net income per common share for the full year ended December 31, 2010, BroadSoft adjusted the GAAP weighted average common shares outstanding to include shares of redeemable convertible preferred stock on an “as-if-converted to common stock” basis. BroadSoft considers these non-GAAP financial measures to be useful metrics for management and investors because they exclude the effect of certain non-cash expenses so management and investors can compare BroadSoft’s core business operating results over multiple periods.
Non-GAAP gross margin, license gross margin and maintenance and services gross margin. BroadSoft defines non-GAAP gross margin as gross margin plus stock-based compensation expense and amortization expense for acquired intangible assets. BroadSoft considers non-GAAP gross margin to be a useful metric for management and its investors because it excludes the effect of certain non-cash expenses so management and its investors can compare BroadSoft’s sales margins over multiple periods. Where BroadSoft provides further breakdown of non-GAAP gross margin between license and maintenance services, the Company adds back the stock-based compensation expense and amortization expense, as applicable, to the related gross margin.
Non-GAAP income from operations. BroadSoft defines non-GAAP income from operations as income from operations plus stock-based compensation expense and amortization expense for acquired intangible assets. BroadSoft considers non-GAAP income from operations to be a useful metric for management and investors because it excludes the effect of certain non-cash expenses so management and investors can compare BroadSoft’s core business operating results over multiple periods. Where BroadSoft provides further breakdown of non-GAAP operating expenses for sales and marketing, research and development and general and administrative, the Company deducts stock-based compensation expense included in the applicable expense item. BroadSoft defines non-GAAP net income as net income plus stock-based compensation expense, amortization expense, non-cash interest expense and non-cash tax expense. BroadSoft believes that expressing expenses closer to a cash basis is a useful metric and is the basis of how management evaluates the business.
The presentation of non-GAAP net income, non-GAAP net income per common share, non-GAAP gross margin, non-GAAP income from operations and other non-GAAP financial measures in this release and on this afternoon’s teleconference is not meant to be a substitute for “net income,” “net income per common share,” “gross margin,” “income from operations” or other financial measures presented in accordance with GAAP, but rather should be evaluated in conjunction with such data. BroadSoft’s definition of “non-GAAP net income,” “non-GAAP net income per common share,” “non-GAAP gross margin,” “non-GAAP income from operations” and other non-GAAP financial measures may differ from similarly titled non-GAAP measures used by other companies and may differ from period to period. In reporting non-GAAP measures in the future, management may make other adjustments for expenses and gains it does not consider reflective of core operating performance in a particular period and may modify “non-GAAP net income,” “non-GAAP net income per share,” “non-GAAP gross margin,” “non-GAAP income from operations” and such other non-GAAP measures by excluding these expenses and gains.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by their use of terms and phrases such as “anticipate,” “believe,” “continue,” “enable,” “expect,” “forward,” “will,” and other similar terms and phrases, and such forward-looking statements include, but are not limited to, the statements regarding BroadSoft’s future financial performance set forth under the heading “Guidance.” The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to: BroadSoft’s dependence on the success of BroadWorks® and on its service provider customers to sell services using its applications; claims that BroadSoft infringes the intellectual property rights of others; its dependence in large part on service providers’ continued deployment of, and investment in, their IP-based networks; and its ability to expand its product offerings, as well as those factors contained in the “Risk Factors” section of the Company’s Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission, or SEC, on February 29, 2012, and in BroadSoft’s other filings with the SEC. All information in this release is as of February 29, 2012. Except as required by law, BroadSoft undertakes no obligation to update publicly any forward-looking statement made herein for any reason to conform the statement to actual results or changes in its expectations.
About BroadSoft
BroadSoft provides software that enables mobile, fixed-line and cable service providers to deliver voice and multimedia services over their IP-based networks. The Company’s software, BroadWorks®, enables service providers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, video calling, unified communications, collaboration and converged mobile and fixed-line services.
Financial Statements
The financial statements set forth below are not the complete set of BroadSoft’s financial statements for the quarter and year and are presented below without footnotes. Readers are encouraged to obtain and carefully review BroadSoft’s Annual Report on Form 10-K for the year ended December 31, 2011, including all financial statements contained therein and the footnotes thereto, filed with the SEC. The Form 10-K may be retrieved from the SEC’s website at www.sec.gov or from BroadSoft’s website at www.broadsoft.com.
BroadSoft, Inc.
Consolidated Balance Sheets
(Unaudited)
December 31, December 31,
2011 2010
------------- -------------
(In thousands, except share
and per share data)
Assets:
Current assets:
Cash and cash equivalents $ 94,072 $ 47,254
Short-term investments 92,749 13,703
Accounts receivable, net of allowance for
doubtful accounts of $54 and $38 at
December 30, 2011 and 2010, respectively 47,048 40,491
Deferred tax asset 12,968 -
Other current assets 4,435 4,866
------------- -------------
Total current assets 251,272 106,314
------------- -------------
Long-term assets:
Property and equipment, net 4,221 3,590
Long-term investments 5,000 4,970
Restricted cash 959 972
Intangible assets, net 8,842 3,709
Goodwill 17,276 6,226
Other long-term assets 3,386 1,575
------------- -------------
Total long-term assets 39,684 21,042
------------- -------------
Total assets $ 290,956 $ 127,356
============= =============
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable and accrued expenses $ 14,999 $ 12,439
Notes payable and bank loans, current
portion 891 1,170
Deferred revenue, current portion 55,372 57,437
------------- -------------
Total current liabilities 71,262 71,046
Convertible senior notes 81,737 -
Notes payable and bank loans 461 800
Deferred revenue, net of current portion 1,764 1,827
Deferred tax liability 1,433 -
Other long-term liabilities 1,056 1,138
------------- -------------
Total liabilities 157,713 74,811
------------- -------------
Stockholders' equity:
Preferred stock, $0.01 par value per share;
5,000,000 shares authorized at December 31,
2011 and 2010; no shares issued and
outstanding at December 31, 2011 and 2010 - -
Common stock, par value $0.01 per share;
100,000,000 shares authorized at December
31, 2011 and 2010; 27,106,393 and
25,452,227 shares issued and outstanding at
December 31, 2011 and 2010, respectively 271 255
Additional paid-in capital 191,714 142,508
Accumulated other comprehensive loss (2,557) (1,736)
Accumulated deficit (56,185) (88,482)
------------- -------------
Total stockholders' equity 133,243 52,545
------------- -------------
Total liabilities and stockholders' equity $ 290,956 $ 127,356
============= =============
BroadSoft, Inc.
Consolidated Statements of Operations
(Unaudited)
Three Months Ended Year ended
December 31, December 31,
------------------- ------------------
2011 2010 2011 2010
--------- --------- -------- --------
(In thousands, except per share data)
Revenue:
License $ 25,482 $ 21,086 $ 77,289 $ 53,302
Maintenance and services 15,069 14,688 60,775 42,321
--------- --------- -------- --------
Total revenue 40,551 35,774 138,064 95,623
Cost of revenue:
License 1,579 1,263 5,475 4,879
Maintenance and services 4,686 3,813 18,204 14,369
Amortization of intangibles 569 223 1,295 794
--------- --------- -------- --------
Total cost of revenue 6,834 5,299 24,974 20,042
--------- --------- -------- --------
Gross profit 33,717 30,475 113,090 75,581
Operating expenses:
Sales and marketing 12,234 9,217 38,376 31,818
Research and development 7,611 5,386 27,744 19,616
General and administrative 5,383 3,874 19,534 14,103
--------- --------- -------- --------
Total operating expenses 25,228 18,477 85,654 65,537
--------- --------- -------- --------
Income from operations 8,489 11,998 27,436 10,044
Other expense (income):
Income before income taxes 6,889 11,998 24,122 9,165
(Benefit from) provision for income
taxes 1,423 807 (8,175) 1,169
--------- --------- -------- --------
Net income $ 5,466 $ 11,191 $ 32,297 $ 7,996
========= ========= ======== ========
Net income per common share available
to BroadSoft, Inc. common
stockholders:
Basic $ 0.20 $ 0.45 $ 1.21 $ 0.49
Diluted $ 0.19 $ 0.41 $ 1.15 $ 0.32
Weighted average common shares
outstanding:
Basic 27,065 24,851 26,603 16,263
Diluted 28,142 27,444 27,987 24,721
Stock-based compensation expense
included above:
Cost of revenue $ 352 $ 55 $ 916 $ 210
Sales and marketing 769 279 1,984 882
Research and development 638 174 1,901 638
General and administrative 549 294 2,400 1,278
Summary of Consolidated Cash Flow Activity
(Unaudited)
Year Ended December 31,
------------------------
2011 2010
----------- -----------
(in thousands)
Net cash provided by operating activities 28,575 19,386
Net cash used in investing activities (99,136) (24,274)
Net cash provided by financing activities 117,431 29,203
BroadSoft, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
Three
Three Months Ended Months Years Ended
December 31, Ended December 31,
September
2011 2010 30, 2011 2011 2010
-------- -------- --------- -------- --------
(In thousands)
Non-GAAP gross profit:
GAAP gross profit $ 33,717 $ 30,475 $ 29,601 $113,090 $ 75,581
(percent of total
revenue) 83% 85% 83% 82% 79%
Plus:
Stock-based
compensation expense 352 55 287 916 210
Amortization of
acquired intangible
assets 569 223 236 1,295 794
-------- -------- --------- -------- --------
Non-GAAP gross profit $ 34,638 $ 30,753 $ 30,124 $115,301 $ 76,585
======== ======== ========= ======== ========
(percent of total
revenue) 85% 86% 84% 84% 80%
GAAP license gross profit $ 23,334 $ 19,600 $ 15,903 $ 70,519 $ 47,629
(percent of related
revenue) 92% 93% 91% 91% 89%
Plus:
Stock-based
compensation expense 128 20 110 331 89
Amortization of
acquired intangible
assets 569 223 236 1,295 794
Non-GAAP license gross
profit $ 24,031 $ 19,843 $ 16,249 $ 72,145 $ 48,512
======== ======== ========= ======== ========
(percent of related
revenue) 94% 94% 93% 93% 91%
GAAP maintenance and
services gross profit $ 10,383 $ 10,875 $ 13,698 $ 42,571 $ 27,952
(percent of related
revenue) 69% 74% 75% 70% 66%
Plus:
Stock-based
compensation expense 224 35 177 585 121
Non-GAAP maintenance and
services gross profit $ 10,607 $ 10,910 $ 13,875 $ 43,156 $ 28,073
======== ======== ========= ======== ========
(percent of related
revenue) 70% 74% 76% 71% 66%
BroadSoft, Inc.
Reconciliation of Non-GAAP Financial Measures (continued)
(Unaudited)
Three
Three Months Ended Months Years Ended
December 31, Ended December 31,
September
2011 2010 30, 2011 2011 2010
-------- -------- --------- -------- --------
(In thousands)
Non-GAAP income from
operations:
GAAP income from
operations $ 8,489 $ 11,998 $ 9,164 $ 27,436 $ 10,044
(percent of total
revenue) 21% 34% 26% 20% 11%
Plus:
Stock-based
compensation expense 2,308 802 1,890 7,201 3,008
Amortization of
acquired intangible
assets 569 223 236 1,295 794
-------- -------- --------- -------- --------
Non-GAAP income from
operations $ 11,366 $ 13,023 $ 11,290 $ 35,932 $ 13,846
======== ======== ========= ======== ========
(percent of total
revenue) 28% 36% 32% 26% 14%
GAAP operating expense $ 25,228 $ 18,477 $ 20,437 $ 85,654 $ 65,537
Less:
Stock-based
compensation expense 1,956 747 1,603 6,285 2,798
-------- -------- --------- -------- --------
Non-GAAP operating
expense $ 23,272 $ 17,730 $ 18,834 $ 79,369 $ 62,739
======== ======== ========= ======== ========
(as percent of total
revenue) 57% 50% 53% 57% 66%
GAAP sales and marketing
expense $ 12,234 $ 9,217 $ 8,581 $ 38,376 $ 31,818
Less:
Stock-based
compensation expense 769 279 466 1,984 882
-------- -------- --------- -------- --------
Non-GAAP sales and
marketing expense $ 11,465 $ 8,938 $ 8,115 $ 36,392 $ 30,936
======== ======== ========= ======== ========
(as percent of total
revenue) 28% 25% 23% 26% 32%
GAAP research and
development expense $ 7,611 $ 5,386 $ 6,587 $ 27,744 $ 19,616
Less:
Stock-based
compensation expense 638 174 506 1,901 638
-------- -------- --------- -------- --------
Non-GAAP research and
development expense $ 6,973 $ 5,212 $ 6,081 $ 25,843 $ 18,978
======== ======== ========= ======== ========
(as percent of total
revenue) 17% 15% 17% 19% 20%
GAAP general and
administrative expense $ 5,383 $ 3,874 $ 5,269 $ 19,534 $ 14,103
Less:
Stock-based
compensation expense 549 294 631 2,400 1,278
-------- -------- --------- -------- --------
Non-GAAP general and
administrative expense $ 4,834 $ 3,580 $ 4,638 $ 17,134 $ 12,825
======== ======== ========= ======== ========
(as percent of total
revenue) 12% 10% 13% 12% 13%
BroadSoft, Inc.
Reconciliation of Non-GAAP Financial Measures (continued)
(Unaudited)
Three Months Three
Ended Months Years Ended
December 31, Ended December 31,
September
2011 2010 30, 2011 2011 2010
-------- -------- --------- -------- --------
(In thousands, except per share data)
Non-GAAP net income and
income per share:
GAAP net income $ 5,466 $ 11,181 $ 7,345 $ 32,297 $ 7,992
Adjusted for:
Stock-based compensation
expense 2,308 802 1,890 7,201 3,008
Amortization of acquired
intangible assets 569 223 236 1,295 794
Non-cash interest expense
on our convertible notes 1,230 - 1,159 2,561 -
Tax provision (benefit)
related to valuation
allowance release 1,064 - (84) (8,946) -
-------- -------- --------- -------- --------
Non-GAAP net income $ 10,637 $ 12,206 $ 10,546 $ 34,408 $ 11,794
======== ======== ========= ======== ========
GAAP net income per basic
common share $ 0.20 $ 0.45 $ 0.27 $ 1.21 $ 0.49
Adjusted for:
Adjustment for preferred
stock conversion (1) - - - - (0.13)
Stock-based compensation
expense 0.09 0.03 0.07 0.27 0.13
Amortization of acquired
intangible assets 0.02 0.01 0.01 0.05 0.04
Non-cash interest expense
on our convertible notes 0.04 - 0.04 0.10 -
Tax provision (benefit)
related to valuation
allowance release 0.04 - (0.00) (0.34) -
-------- -------- --------- -------- --------
Non-GAAP net income per
basic common share $ 0.39 $ 0.49 $ 0.39 $ 1.29 $ 0.53
======== ======== ========= ======== ========
GAAP net income per diluted
common share $ 0.19 $ 0.41 $ 0.26 $ 1.15 $ 0.32
Adjusted for:
Stock-based compensation
expense 0.08 0.02 0.07 0.26 0.12
Amortization of acquired
intangible assets 0.02 0.01 0.01 0.05 0.04
Non-cash interest expense
on our convertible notes 0.05 - 0.04 0.09 -
Tax benefit related to
valuation allowance
release 0.04 - - (0.32) -
-------- -------- --------- -------- --------
Non-GAAP net income per
diluted common share $ 0.38 $ 0.44 $ 0.38 $ 1.23 $ 0.48
======== ======== ========= ======== ========
Non-GAAP weighted average
shares outstanding: (2)
GAAP weighted average
shares outstanding 16,263
Adjusted for:
Adjustment for
convertible preferred
stock conversion 6,073
Non-GAAP weighted average
shares outstanding 22,336
(1) For purposes of the calculation of non-GAAP net income per basic and diluted common share for the year ended December 31, 2010, GAAP weighted average shares outstanding was adjusted as if the conversion of all shares of redeemable convertible preferred stock into common stock occurred at the beginning of the period.
(2) For the calculation of GAAP weighted average shares outstanding for the year ended December 31, 2011, the shares of common stock underlying shares of redeemable convertible preferred stock were not included for the period prior to the Company’s initial public offering of its common stock, whereas for the non-GAAP weighted average shares outstanding, the conversion of all shares of redeemable convertible preferred stock was assumed to have occurred at the beginning of the period.
BroadSoft, Inc.
Reconciliation of Expected Non-GAAP Financial Measures
(Unaudited)
Guidance
Three Months Ending Year Ending December
March 31, 2012 31, 2012
--------------------- ---------------------
Low End High End Low End High End
---------- ---------- ---------- ----------
(In thousands, except per share data)
Non-GAAP net income:
GAAP net income $ - $ 1,200 $ 8,500 $ 10,300
Adjusted for:
Stock-based compensation
expense 3,100 3,100 11,700 11,700
Amortization of acquired
intangible assets 550 550 2,200 2,200
Non-cash interest expense on
our convertible notes 1,250 1,250 5,100 5,100
Non-cash tax provision - 550 6,000 7,600
---------- ---------- ---------- ----------
Non-GAAP net income $ 4,900 $ 6,650 $ 33,500 $ 36,900
========== ========== ========== ==========
Non-GAAP net income per share:
GAAP net income per diluted
common share $ - $ 0.04 $ 0.30 $ 0.36
Adjusted for:
Stock-based compensation
expense 0.11 0.11 0.41 0.41
Amortization of acquired
intangible assets 0.02 0.02 0.08 0.08
Non-cash interest expense on
our convertible notes 0.04 0.04 0.18 0.18
Non-cash tax provision - 0.02 0.21 0.27
---------- ---------- ---------- ----------
Non-GAAP net income per diluted
common share $ 0.17 $ 0.23 $ 1.18 $ 1.30
========== ========== ========== ==========
BSFT-F
Contact Information For further information contact: Investor Relations: Monica Gould, +1-212-871-3927 Email Contact Industry Analyst / Media Relations: Elaine Myada, +1-240-720-9558 Email Contact Brian Lustig, +1-301-775-6203, Email Contact
Source: BroadSoft, Inc.
News Provided by Acquire Media
PR Archives: Latest, By Company, By Date