iLinc Communications, Inc. (AMEX:ILC), a leading developer of Web
conferencing software and audio conferencing services, today
announced results for the third quarter of fiscal year 2008 ended
December 31, 2007. For the three months ended December 31, 2007,
total revenue decreased eight percent to $3.4 million, compared
with revenues of $3.7 million for the same three-month period last
year. Revenues increased six percent to $11.4 million for the nine
months ended December 31, 2007, compared with revenues of $10.7
million for the same nine-month period last year. Gross profit
decreased seven percent to $2.2 million for the three months ended
December 31, 2007, compared to $2.3 million for the same
three-month period last year. Gross profit increased ten percent to
$7.6 million for the nine months ended December 31, 2007, compared
to $6.9 million for the same nine-month period last year. �We are
very disappointed that several large software license sales that
had been expected to close in December were delayed to the March
quarter,� said James M. Powers, Jr., President and Chief Executive
Officer of iLinc. �Four large contracts did not close in the third
quarter as planned. While we make every attempt to close deals
within a particular quarter, we continue to weather the lumpy
quarterly results that are the hallmark of the traditional software
license model. However, as we recently announced, we closed two of
the deferred transactions using our SaaS ('Software-as-a-Service')
or subscription license model, and we expect to close the remaining
contracts during the March quarter,� added Dr. Powers. �We
previously announced our focus on four key verticals and that focus
is building a sustainable foundation for long-term sales momentum,�
continued Dr. Powers. �Our market place continues to change with
increased adoption of SaaS offerings, and we are expanding our
offerings to accommodate that market dynamic. To be clear, while we
expect to see growth in the number of SaaS transactions in the
coming quarters, we will continue to promote our long standing and
industry unique software purchase licensing model where
appropriate. We remain committed to servicing our customers,
offering enterprise-class Web conferencing solutions under a
software purchase license model, whether it is being hosted by
iLinc (in our hybrid model) or behind our customer�s firewall. We
will continue to strategically exploit that competitive advantage,�
concluded Dr. Powers. The Company reported negative Adjusted EBITDA
of $15,000 for the three-month period ended December 31, 2007, and
Adjusted EBITDA of $1.0 million for the nine-month period ended
December 31, 2007. For the three months ended December 31, 2007, we
reported a net loss of $579,000, or ($0.02) per basic and diluted
share, as compared to a net loss of $35,000, or break-even per
basic and diluted share for the same three-month period last year.
For the nine months ended December 31, 2007, we reported a net loss
of $740,000 or ($0.02) per basic and diluted share as compared to
net income of $255,000, or break-even per basic and diluted share
for the nine months ended December 31, 2006. �The obvious upside to
the increasing use of the more prevalent SaaS model is that we reap
the long-term benefits of a more predictable and recurring revenue
stream, yet retain the benefits of up-front payments,� said James
L. Dunn, Jr., iLinc�s Chief Financial Officer. �We believe that
offering a varied license model that fits each vertical is a better
approach than attempting to force a purchase model for the
short-term benefit of quarterly revenue growth,� added Mr. Dunn.
�That said, the addition, or even substitution in some cases, of a
SaaS model will have the natural accounting consequence of shifting
more immediate quarterly revenue to longer-term subscription
revenue. Our revised annual guidance is a reflection of the recent
shift in our revenue model and takes a longer-term view of revenue
and bottom line improvements,� continued Mr. Dunn. Addressing
overhead and the recent losses incurred, Mr. Dunn continued, �In
Fiscal 2008 we invested aggressively in sales and marketing
activities that were designed to provide more short-term purchase
license transactions. In doing so, expenditures outpaced sales
success, a trend that we have taken steps to correct. Given the
shift in focus and model of our sales organization, we can also
adjust our marketing spend to adapt to new markets and a more
focused vertical strategy. By doing so, we plan to reduce overhead
where appropriate to be more targeted in our overall sales and
marketing approach. We believe that it is important that we return
as quickly as possible to a profitable status at the bottom line,
to bolster investor and customer confidence. Therefore, we have
already in January implemented adjustments to our overhead
structure that are designed to reduce overhead while maintaining
necessary product development for long-term sales success. We
expect to see a more normalized overhead structure and a return to
profitability in the March quarter and thereafter. We will provide
more information about the December quarter and our expectations
for the remainder of the 2008 fiscal year during our quarterly
earnings conference call and online meeting later today,� concluded
Mr. Dunn. Guidance The following contains forward-looking guidance
regarding iLinc's financial outlook. The following statements are
based on current expectations: For the fiscal year ending March 31,
2008, iLinc anticipates revenues in the range of $15 million to
$15.5 million. For the fiscal year ending March 31, 2008, with
these projected revenues, we anticipate a range between break-even
net income and a net loss of $500,000. A Webcast of iLinc
Communications� third quarter fiscal 2008 conference call will be
hosted live at 11:00 a.m. Eastern time on February 7, 2008.
Interested parties may participate in the iLinc online meeting
and/or listen to the audio portion via the telephone. To join the
live online session and to see the presentation, please go to
[http://ir.ilinc.com/public/join] and follow the login
instructions. To hear the audio portion of the meeting, call
1-800-341-2312 and refer to confirmation number 40040461. A replay
of the event will be available online shortly after the call
through the Company's Web site at www.iLinc.com. 1 Explanation of
Adjusted EBITDA, a Non-GAAP Financial Measure We report adjusted
EBITDA, a financial measure that is not defined by Generally
Accepted Accounting Principles (�GAAP�). We believe that adjusted
EBITDA is a useful performance metric for our investors and is a
measure of operating performance that is commonly reported and
widely used by financial and industry analysts, investors and other
interested parties because it eliminates significant non-cash
and/or one-time charges to earnings. It is important to note that
non-GAAP measures should be considered in addition to, not as a
substitute for or superior to, net income, cash flows, or other
measures of financial performance prepared in accordance with GAAP.
A reconciliation of net income to adjusted EBITDA is as follows for
the three months and nine months ended December 31, 2007 and 2006.
Three months ended December 31, � � � Nine months ended December
31, 2007 � � � 2006 2007 � � � 2006 (in thousands) (in thousands)
Net (loss) income $ (579 ) $ (35 ) $ (740 ) $ 255 Non-cash charges
and credits: Interest expense 342 394 1,037 1,192 Financing and
late fees 4 9 19 32 Warrant expense � � 21 15 Gain on debt
extinguishment � 160 � 160 Gain on debt settlement � � � (8 ) Gain
on sale of assets (17 ) � (20 ) (3 ) Interest income (3 ) (9 ) (16
) (25 ) Stock compensation expense 41 33 136 106 Income tax expense
21 � 64 � Depreciation 73 54 209 280 Amortization � 103 � � 117 � �
300 � � 351 � Adjusted EBITDA $ (15 ) $ 723 � $ 1,010 � $ 2,355 �
About iLinc Communications, Inc. iLinc Communications, Inc. is a
leading developer of Web conferencing software and audio
conferencing solutions for highly secure and cost-effective online
meetings, presentations, and training sessions. The Company's
technology allows people in diverse locations to communicate and
collaborate online while avoiding the expense, environmental
damage, and productivity losses associated with travel. iLinc
provides an award-winning, enterprise-wide suite of Web, audio and
video conferencing solutions that can be scaled up or down to meet
the needs of any size organization. Offering the industry's most
flexible pricing models, iLinc gives organizations the power to
choose an on-premise installed, on-demand hosted, or hybrid
solution�whichever model delivers the highest ROI for the customer.
iLinc is headquartered in Phoenix, Ariz. with offices in Troy, New
York and Salt Lake City, Utah. This press release contains
information that constitutes forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Any such forward-looking statements
involve risk and uncertainties that could cause actual results to
differ materially from any future results described within the
forward-looking statements. Factors that could contribute to such
differences are disclosed in the Company�s annual report on Form
10-K, quarterly reports on Form 10-Q, and other reports filed with
the Securities and Exchange Commission. The forward-looking
information provided herein represents the Company�s estimates and
expectations as of the date of the press release, and subsequent
events and developments may cause the Company�s estimates and
expectations to change. The Company specifically disclaims any
obligation to update the forward-looking information in the future.
Therefore, this forward-looking information should not be relied
upon as representing the Company�s estimates and expectations of
its future financial performance as of any date subsequent to the
date of this press release. iLinc, iLinc Communications, iLinc
Suite, MeetingLinc, LearnLinc, ConferenceLinc, SupportLinc,
EventPlus, On-Demand, iReduce, iLinc Enterprise Unlimited and its
logos are trademarks or registered trademarks of iLinc
Communications, Inc. All other company names and products may be
trademarks of their respective companies. iLINC COMMUNICATIONS,
INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS (unaudited) (in thousands, except per share data) � � �
� Three months ended December 31, Nine months ended December 31, �
2007 � � � � 2006 � � � 2007 � � � � 2006 � Revenues Software
licenses $ 659 $ 1,105 $ 3,029 $ 3,255 Subscription licenses 752
488 2,140 1,515 Audio services 1,230 1,343 4,153 3,925 Maintenance
and professional services � 724 � � 715 � � 2,071 � � 2,012 � Total
revenues � 3,365 � � 3,651 � � 11,393 � � 10,707 � � Cost of
revenues Software licenses 58 51 125 132 Subscription licenses 84
77 284 227 Audio services 803 807 2,593 2,500 Maintenance and
professional services 201 310 593 710 Amortization of technology �
53 � � 68 � � 150 � � 202 � Total cost of revenues � 1,199 � �
1,313 � � 3,745 � � 3,771 � � Gross profit � 2,166 � � 2,338 � �
7,648 � � 6,936 � � Operating expenses Research and development 645
307 1,596 905 Sales and marketing 1,049 924 3,671 2,538 General and
administrative � 688 � � 588 � � 1,999 � � 1,884 � Total operating
expenses � 2,382 � � 1,819 � � 7,266 � � 5,327 � � (Loss) income
from operations (216 ) 519 382 1,609 � Interest expense (261 ) (244
) (794 ) (741 ) Amortization of beneficial debt conversion � (81 )
� (150 ) � (243 ) � (451 ) Total interest expense (342 ) (394 )
(1,037 ) (1,192 ) Loss on extinguishment of debt � (160 ) � (160 )
Interest income (charges) and other � � � � � � � (21 ) � (12 )
(Loss) income from continuing operations before income taxes (558 )
(35 ) (676 ) 245 Income tax expense � (21 ) � � � � (64 ) � � � �
(Loss) income from continuing operations (579 ) (35 ) (740 ) 245
Income from discontinued operations � � � � � � � � � � 10 � Net
(loss) income (579 ) (35 ) (740 ) 255 Series A and B preferred
stock dividends � (32 ) � (38 ) � (101 ) � (117 ) (Loss) income
available to common shareholders $ (611 ) $ (73 ) $ (841 ) $ 138 �
(Loss) income per common share, basic and diluted From continuing
operations $ (0.02 ) $ � $ (0.02 ) $ � From discontinued operations
� � � � � � � � � � � � (Loss) income per common share $ (0.02 ) $
� � $ (0.02 ) $ � � � Number of shares used in calculation of
(loss) income per share, Basic � 33,841 � � 33,190 � � 33,717 � �
31,676 � Diluted � 33,841 � � 33,190 � � 33,717 � � 31,991 � iLINC
COMMUNICATIONS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED
BALANCE SHEETS (in thousands, except share data) (unaudited) � � �
� December 31, 2007 March 31, 2007 Assets Current assets: Cash and
cash equivalents $ 1,085 $ 1,057 Certificate of deposit 368 504
Accounts receivable, net of allowance for doubtful accounts of $119
and $117 at December 31 and March 31, 2007, respectively 2,415
2,530 Note receivable � 14 Prepaid and other current assets � 592 �
� 766 � Total current assets 4,460 4,871 � Property and equipment,
net 807 691 Goodwill 11,206 11,206 Intangible assets, net 1,428
1,556 Other assets � 14 � � 14 � Total assets $ 17,915 � $ 18,338 �
� Liabilities and Shareholders� Equity Current liabilities: Current
portion of long term debt $ 95 $ 143 Accounts payable trade 1,270
1,169 Accrued liabilities 1,038 1,119 Current portion of capital
lease liabilities 117 45 Deferred revenue � 1,572 � � 1,483 � Total
current liabilities 4,092 3,959 � Long term debt, less current
maturities, net of discount and beneficial conversion feature of
$842 and $993, at December 31 and March 31, 2007, respectively
7,504 7,406 Capital lease liabilities, less current maturities 287
223 Deferred tax liability � 363 � � 299 � Total liabilities �
12,246 � � 11,887 � � Shareholders� Equity: Preferred stock series
A & B, 10,000,000 shares authorized: Series A preferred stock,
$.001 par value, 105,000 and 115,000 shares issued and outstanding,
liquidation preference of $1,050,000 and $1,150,000 at December 31
and March 31, 2007 � � Series B preferred stock, $.001 par value,
59,500 shares issued and outstanding, liquidation preference of
$595,000 � � Common stock, $.001 par value 100,000,000 shares
authorized 35,276,228 and 35,017,843 issued at December 31 and
March 31, 2007, respectively 35 35 Additional paid-in capital
46,673 46,614 Accumulated deficit (39,631 ) (38,790 ) Less:
1,432,412 treasury shares at cost � (1,408 ) � (1,408 ) Total
shareholders� equity � 5,669 � � 6,451 � Total liabilities and
shareholders� equity $ 17,915 � $ 18,338 �
Ilinc Comm (AMEX:ILC)
Gráfica de Acción Histórica
De Ene 2025 a Feb 2025
Ilinc Comm (AMEX:ILC)
Gráfica de Acción Histórica
De Feb 2024 a Feb 2025