IntraLinks Announces Fourth Quarter and Full Year 2012 Results

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Thursday, February 21st 2013
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NEW YORK, Feb. 21, 2013 /PRNewswire/ -- IntraLinks Holdings, Inc. (NYSE: IL), a leading, global technology provider of inter-enterprise content management and collaboration solutions, today announced results for its fourth quarter and full year 2012.

"The financial results for 2012 reflect the stability of our company as well as good momentum in our core strategic transactions business, where we continue to gain share," said Ron Hovsepian, IntraLinks' President and CEO.  "We made significant progress that I believe will position us well for long-term growth. We strengthened our senior management team, and began to implement our strategy of leveraging the leadership position we have in our core business while investing in developing solutions that squarely address what we see as the unmet needs of the enterprise market for secure, beyond-the-firewall content collaboration."

Fourth Quarter 2012

Total revenue was $57.4 million, compared to $52.9 million for the corresponding quarter last year.

  • Enterprise revenue was $24.2 million, compared to $23.5 million for the corresponding quarter last year.
  • M&A revenue was $26.2 million, compared to $20.9 million for the corresponding quarter last year.
  • DCM revenue was $7.0 million, compared to $8.5 million for the corresponding quarter last year.

GAAP gross margin was 73.1%, compared to 73.2% for the corresponding quarter last year. Non-GAAP gross margin was 76.8%, compared to 79.6% for the corresponding quarter last year.

GAAP operating loss was ($1.7) million, compared to operating income of $2.4 million for the corresponding quarter last year.  Non-GAAP adjusted operating income was $6.2 million, compared to $11.5 million for the corresponding quarter last year.

GAAP net loss was ($1.5) million, compared to a GAAP net loss of ($2.5) million for the corresponding quarter last year.  GAAP net loss per share for the fourth quarter was ($0.03) on the basis of 54.5 million shares outstanding. In the prior year comparable period, diluted GAAP net loss per share was ($0.05) on the basis of 54.1 million shares outstanding.

Non-GAAP adjusted net income was $3.2 million, compared to $5.7 million for the corresponding quarter last year. Non-GAAP adjusted net income per share was $0.06 on the basis of 55.1 million shares outstanding. In the corresponding quarter for the prior year, non-GAAP net income per share was $0.11 on the basis of 54.6 million shares outstanding.

Non-GAAP adjusted EBITDA was $11.2 million, compared to $16.1 million for the corresponding quarter last year.

Cash flow from operations was $14.0 million, compared to $19.6 million in the corresponding quarter last year.

Full Year 2012

Total revenue was $216.7 million, compared to $213.5 million in the prior year.

  • Enterprise revenue was $94.6 million, compared to $94.6 million last year
  • M&A revenue was $91.6 million, compared to $83.8 million last year
  • DCM revenue was $30.4 million, compared to $34.5 million last year
  • In the prior year, other revenue of $0.6 million came from an insurance recovery.

GAAP gross margin was 71.2%, compared to 73.6% for the corresponding quarter last year. Non-GAAP gross margin was 76.2%, compared to 79.9% in the prior year.

GAAP operating loss was ($22.3) million, compared to operating income of $8.9 million in the prior year.  Non-GAAP adjusted operating income was $18.8 million, compared to $46.3 million in the prior year.