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May 08, 2008

CRM's eLoyalty Announces $4.2 Million Loss for Q1



By David Sims
TMCnet Contributing Editor


CRM vendor eLoyalty (News - Alert) Corporation has announced financial results for the first quarter ended March 29, 2008.
 
For the first quarter of 2008, total revenue was $23.9 million and the net loss was $4.2 million. The net loss available to common shareholders was $0.49 per share.
 
ELoyalty realized "Adjusted Earnings" of $0.7 million for the first quarter of 2008. The Adjusted Earnings metric is a non-GAAP measure.
 
Highlights for the first quarter of 2008, company officials say, include six percent sequential increase in Services Revenue, 11 percent sequential increase in Total Revenue and $719,000 of Adjusted Earnings, with $2.5 million sequential improvement in Adjusted Earnings.
 
During the second quarter, the Company expects lower CRM consulting revenue due to budget pressures at several large consulting accounts and to experience the one-time impact of a contract modification on one of its Behavioral Analytics contracts.
 
Based on these factors, company officials said they currently expect to achieve second quarter Services revenue of $19.0 million and not exceed or fall below the target by more than 5 percent.
 
In early January eLoyalty announced that it had signed two additional Behavioral Analytics contracts -- a deployment contract with a national utility company and an assessment contract with a large HMO.
 
The new contracts brought eLoyalty's fourth quarter Behavioral Analytics contract activity to "a record of four new deployment contracts and six new assessment contracts. As of the end of the fourth quarter, the company has 30 Behavioral Analytics customers, 16 in Deployment and 14 in Assessment.
 
ELoyalty officials said at the time they expected their Managed Services Backlog to increase to approximately $73 million at the end of the fourth quarter.
 
David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.
 

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