CAMPBELL, CA — (Marketwired) — 08/12/13 — Rainmaker Systems, Inc. (OTCQX: RMKR), a recognized technology leader in the rapidly emerging Cloud-Based B2B e-Commerce market, today reported financial results for its fiscal quarter ended June 30, 2013.
Net revenue in the second quarter of 2013 was $4.7 million, compared to net revenue in the preceding quarter of $4.7 million and net revenue in the second quarter of 2012 of $6.9 million. Net revenue for the six months ended June 30, 2013 was $9.4 million compared to $13.3 million in the 2012 comparative period.
Net loss from continuing operations for the second quarter of 2013 was $3.0 million, or a net loss of $0.08 per share, compared to a net loss from continuing operations in the preceding quarter of $3.5 million, or a net loss of $0.12 per share, and a net loss from continuing operations in the second quarter of 2012 of $0.9 million, or a net loss of $0.03 per share. Net loss from continuing operations for the six months ended June 30, 2013 was $6.4 million, or a net loss of $0.19 per share, compared to a net loss from continuing operations of $2.1 million, or a net loss of $0.08 per share, in the 2012 comparative period.
Total cash and cash equivalents were $5.0 million at June 30, 2013, compared to $4.5 million at December 31, 2012.
“We have made significant progress in the last quarter toward achieving stable revenue streams and operations,” said Don Massaro, President and CEO. “The second quarter results and the recently announced $8.6 million of bookings activity were very encouraging and demonstrate that the Company is setting the foundation to capitalize on the next stage of revenue growth.”
Rainmaker Systems will host a conference call and webcast today at 2 p.m. Pacific Daylight Time (5 p.m. Eastern Daylight Time) to discuss its second quarter 2013 financial results. Those wishing to participate in the live call should dial using the passcode 2771789. A replay of the call will be available for one week beginning approximately two hours after the call-s conclusion by dialing and entering the passcode 2771789. To access the live webcast of the call, go to the Investors section of Rainmaker-s website at . A webcast replay of the conference call will be available for one year on the Conference Calls/Events page of the Investors section at .
Rainmaker Systems is a B2B e-Commerce company that helps organizations of all sizes, ranging from Fortune 500 enterprises to small-to-medium-sized businesses, create new revenue streams from segments of their customer base that extend beyond traditional sales team capabilities. With its unique approach, Rainmaker Systems delivers proprietary cloud-based e-Commerce technology, global and localized sales-assist agents, and best-practice sales and marketing expertise, allowing customers to discover and monetize untapped revenue opportunities.
Rainmaker trades in the U.S. on OTCQX under the symbol “RMKR.”
NOTE: Rainmaker Systems and the Rainmaker logo are registered with the U.S. Patent and Trademark Office. All other service marks or trademarks are the property of their respective owners.
This press release may contain forward-looking statements regarding future events. These forward-looking statements are based on information available to Rainmaker as of this date and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance, and actual results could differ materially from current expectations. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are our ability to raise additional equity or debt financing to fund our operations, our client concentration, as we depend on a small number of clients for a significant percentage of our revenue, the possibility of the discontinuation and/or realignment of some client relationships, general market conditions, the current difficult macro-economic environment and its impact on our business, as our clients are reducing their overall marketing spending and our clients- customers are reducing their purchase of services contracts, the high degree of uncertainty and our limited visibility due to economic conditions, our ability to execute our business strategy, our ability to integrate acquisitions without disruption to our business, our ability to transition to a new Chief Executive Officer without disruption to our business, the effectiveness of our sales team and approach, our ability to target, analyze and forecast the revenue to be derived from a client and the costs associated with providing services to that client, the date during the course of a calendar year that a new client is acquired, the length of the integration cycle for new clients and the timing of revenues and costs associated therewith, our ability to expand our channel hosted contract solution and drive adoption of this solution by resellers, potential competition in the marketplace, the ability to retain and attract employees, market acceptance of our service programs and pricing options, our ability to maintain our existing technology platform and to deploy new technology, our ability to sign new clients and control expenses, the financial condition of our clients- businesses, and other factors detailed in the Company-s filings with the Securities and Exchange Commission (“SEC”), including our filings on Forms 10-K and 10-Q.
– Financial tables to follow –
Mallorie Burak
Chief Financial Officer
Rainmaker Systems, Inc.
(408) 340-2510
You must be logged in to post a comment Login