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BroadSoft Reports Q2 Loss of $3M

GAITHERSBURG, Md. -- BroadSoft, Inc. (NASDAQ: BSFT), the leading global provider of Internet protocol-based, or IP-based, communications services to the telecommunications industry, today announced financial results for the quarter ended June 30, 2013.

Financial Highlights for the Second Quarter of 2013
  • Total revenue increased 9% year-over-year to $44.0 million
  • GAAP gross profit was 78% of total revenue; non-GAAP gross profit was 82% of total revenue
  • GAAP loss from operations totaled $2.3 million; non-GAAP income from operations totaled $9.7 million, or 22% of revenue
  • GAAP basic and diluted EPS was $(0.11) per common share; non-GAAP diluted EPS was $0.32 per common share

    Results for the three months ended June 30, 2013
    Total revenue rose to $44.0 million in the second quarter of 2013, an increase of 9% compared to $40.5 million in the second quarter of 2012.

    Net loss for the second quarter of 2013 was $3.0 million, or $0.11 per basic and diluted common share, compared to net income of $2.4 million, or $0.08 per diluted common share, in the second quarter of 2012.

    On a non-GAAP basis, net income in the second quarter of 2013 was $9.2 million, or $0.32 per diluted common share, compared to non-GAAP net income of $9.4 million, or $0.33 per basic and diluted common share, in the second quarter of 2012. A reconciliation of non-GAAP and GAAP results is included in the financial tables below.

    Results for the six months ended June 30, 2013
    Total revenue was $83.6 million for the first six months of 2013, compared to $78.9 million for the first six months of 2012, reflecting year-over-year growth of 6%.

    Net loss for the first six months of 2013 was $5.3 million, or $0.19 per basic and diluted common share, compared to net income of $4.1 million, or $0.14 per diluted common share, for the first six months of 2012.

    On a non-GAAP basis, net income for the first six months of 2013 was $14.3 million or $0.50 per diluted common share, compared to non-GAAP net income of $17.5 million, or $0.62 per diluted common share, in the first six months of 2012. A reconciliation of non-GAAP and GAAP results is included in the financial tables below.

    BroadSoft Inc.
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