broadsoft inc (BSFT) Key Developments
BroadSoft, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter and Full Year of 2015
Feb 25 15
BroadSoft, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. The company's total revenue rose to $65.8 million in the fourth quarter of 2014, an increase of 27% compared to $52.0 million in the fourth quarter of 2013. Net income for the fourth quarter of 2014 was $9.1 million, or $0.30 per diluted common share, compared to net income of $0.5 million, or $0.02 per diluted common share in the fourth quarter of 2013. On a non-GAAP basis, net income in the fourth quarter of 2014 was $19.1 million, or $0.64 per diluted common share, compared to non-GAAP net income of $13.2 million, or $0.45 per diluted common share, in the fourth quarter of 2013. Income from operations was $12.756 million against $1.649 million a year ago. Income before income taxes was $10.397 million against loss before income taxes of $0.37 million a year ago. Non-GAAP income from operations was $19.751 million against $13.845 million a year ago.
For the full year, total revenue was $216.9 million, an increase of 21% compared to $178.5 million in 2013. Net income for the full year of 2014 was $1.0 million, or $0.03 per diluted common share, compared to net loss of $8.9 million, or $0.32 per diluted common share, in 2013. On a non-GAAP basis, net income for the full year of 2014 was $40.1 million or $1.34 per diluted common share, compared to non-GAAP net income of $35.9 million, or $1.24 per diluted common share, in 2013. Income from operations was $7.219 million against loss from operations of $7.485 million a year ago. Loss before income taxes was $1.258 million against $14.283 million a year ago. Cash provided by operating activities was $54.759 million against $31.934 million a year ago. Non-GAAP income from operations was $42.238 million against $38.078 million a year ago.
For the first quarter of 2015, the company anticipates revenue of $52 to $56 million. The company also expects to achieve earnings on a non-GAAP basis of $0.13 to $0.21 per diluted common share.
For the full year 2015, the company expects revenue of $260 to $268 million. The company anticipates full year 2015 earnings on a non-GAAP basis of $1.40 to $1.64 per diluted common share.
BroadSoft, Inc. Appoints Andrew M. Geisse to the Board of Directors
Feb 10 15
BroadSoft, Inc. announced that Andrew M. Geisse, has been elected to the Board of Directors, effective as of February 5, 2015. Mr. Geisse, who previously held several key senior executive leadership positions at AT&T, will draw upon 35 years of telecom industry experience to help further extend BroadSoft's global leadership position in delivering cloud-enabled Unified Communications and Collaboration services. From 2012 until his retirement in 2014, Mr. Geisse served as Chief Executive Officer of AT&T Business Solutions where he was responsible for leading worldwide sales, operations and marketing for business customers.
Wavenet Selects BroadSoft to Provide Global Hosted Unified Communications Services
Feb 5 15
BroadSoft, Inc. announced that Wavenet Limited has selected BroadSoft's BroadCloud(r) managed services to offer its customers and channel partners an integrated IP voice and Unified Communications (UC) service. Wavenet, which has over 2,000 customers and supports 20,000 users in the United Kingdom, provides companies and associated partners with core telephony services. Wavenet's arrangement with BroadSoft will enable the company to accelerate delivery of its hosted software and services, as customers demand the flexibility and scalability afforded by cloud-based infrastructure. BroadCloud, the fully-managed service operated from BroadSoft's cloud infrastructure, allows service providers such as Wavenet to benefit from faster time-to-market and the ability to outpace PBX vendors with rapid feature release upgrades. At the same time, enterprises are provided with a single, scalable solution to penetrate new global markets and accommodate long-term growth. Wavenet's customers will have access to BroadSoft's UC-One(r). UC-One brings together essential communications services, such as instant messaging, presence, voice and video calling, multi-party video collaboration, and desktop sharing in real-time to enhance business productivity.
Oxford Networks Selects Broadsoft to Power Hosted UC Service for SMB Market
Jan 29 15
BroadSoft, Inc. announced that Oxford Networks has selected its BroadCloud® managed services to power Oxford Networks Cloud Branch Exchange (ONcbx), a cloud-based business communications service designed for small and medium sized businesses (SMB) that extends beyond standard telephony features to include video calling and conferencing, mobility, unified messaging, and other in-demand hosted unified communications (UC) services. Oxford Networks selected BroadCloud for in-demand UC capabilities that can be rapidly delivered to their SMB customers, speeding time to new service revenues. BroadCloud offers service providers a complete managed hosted service from BroadSoft's cloud infrastructure, while covering the full business customer life-cycle, from initial quote to service activation to support, in addition to providing PBX and UC services.
BroadSoft, Inc. to Report Q4, 2014 Results on Feb 25, 2015
Jan 15 15
BroadSoft, Inc. announced that they will report Q4, 2014 results at 8:30 AM, US Eastern Standard Time on Feb 25, 2015