RightNow's revenue leaps up
Published: 26 Oct 2004 17:45 BST
Subscription software company RightNow Technologies reported a 78 percent jump in third-quarter revenue on Monday, helping it move from $1m in losses in the same quarter last year into a $1.4m quarterly profit. The company, based in Montana is a pioneer in the market for pay-as-you-go software for businesses. Since offering its shares for public trading in August, the value of RightNow's stock has more than doubled.
RightNow earned $1.4m, or 5 cents per share, on $16.4m for the quarter, signing up 88 new customers for its software during that time. The company expects the growth to continue, forecasting revenue of $16.9m to $17.3m in the fourth quarter. For 2005, the company expects to earn 15 to 19 cents per share on revenue of $80m to $84m.
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