Rainmaker Systems, Inc. Announces Recent Bookings Successes
CAMPBELL, CA -- (Marketwired) -- 07/10/13 -- Rainmaker Systems, Inc.
(OTCQB: RMKR), a Silicon Valley-based technology company in the
Cloud-Based B2B e-commerce market, today announced that it closed in
excess of $8 million in bookings for its second fiscal quarter,
ending June 30, 2013. Revenue associated with these contracts will be
recognized in accordance with the contractual terms of the
"The level of new business closed over the last several months
validates the effectiveness of our renewed focus and investments in
Sales, Marketing and Development," said Donald J. Massaro, president
and CEO. "In addition, we have spent the last six months developing
and implementing processes and procedures that help ensure these and
future bookings are of the highest quality, consistent with our
strategy, and that they yield acceptable margins for the business,"
The new bookings were spread across all products offerings. "These
recent deals underscore the strength of our existing relationships
with strategic customers, as well as confirm the demand for the
compelling value proposition we bring to new and existing customers,"
Massaro said. "I believe revenue is a result, not an objective. The
quarter's incremental new bookings and our sales pipeline are
building toward that result. We are encouraged by our progress."
Rainmaker Systems, Inc. (RMKR) 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 extends beyond traditional sales
team capabilities. With its unique approach, Rainmaker 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
Safe Harbor Statement
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
the Company assumes 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 factors that could cause actual results to
differ materially from those in the forward-looking statements are
client concentration, as the company depends on a small number of
clients for a significant percentage of its 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 Rainmaker's business, as
clients are reducing their overall marketing spending and their
customers are reducing their purchase of service contracts; market
acceptance of our service programs and pricing options; the financial
condition of our clients' businesses and other factors detailed the
company's filings with the Securities and Exchange Commission (SEC),
including our filings on forms 10-K and 10-Q.
Deborah A. Stapleton
Rainmaker Systems, Inc.
Chief Financial Officer
Rainmaker Systems, Inc.
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