RealTime IT News

LivePerson Reports Revenue Growth

LivePerson Inc. , a New York-based ASP that specializes in providing real-time sales and customer support services, yesterday announced revenues of $1.9 million for the quarter that ended on June 30 — a 3-percent increase over the previous quarter (revenue for the same quarter last was also $1.9 million).

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter was $122,000, as compared to $47,000 for the three months ended March 31, 2002, and a $3.2 million loss in the corresponding quarter of 2001.

"We are pleased that we continued to make steady operating progress on both revenue and the bottom line this quarter. We increased EBITDA vs. the prior quarter and announced a number of new customers, including new contracts or added business with eBay, American Airlines Credit Union, EarthLink and Kinko's," said CEO Robert LoCascio in a statement.

Net loss for the quarter was $51,000 versus a $5.4 million loss for the quarter that ended March 31, 2002, and a $4.3 million loss in the corresponding quarter of 2001. Net loss included non-cash depreciation and stock compensation amortization charges of $207,000 for the quarter ended June 30, 2002, and $192,000 and $454,000 for the quarters ended March 31, 2002 and June 30, 2001, respectively.

"We expect revenue to grow by approximately 15 percent in the third quarter, driven by both organic sales growth from new and existing clients, as well as from the previously announced acquisition of certain client contracts of NewChannel Inc.," said LoCascio.

LivePerson reported a cash balance of $10.4 million, which is flat compared to the previous quarter.


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