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May 3, 2009

RightNow returns to profit in Q1 2009

Revenue up 10% on year-ago quarter

By CBR Staff Writer

On-demand CRM software vendor RightNow Technologies has reported net income of $1.26m for the first quarter 2009, compared to a loss of $3.39m in the year-ago quarter, on revenue up 10% at $36.03m.

It made an operating profit of $1.01m compared to a loss of $4.24m in the same period last year. Diluted EPS was $0.04 compared to diluted net loss per share of $0.10 a year ago.

The company said software, hosting and support revenue grew 6% to $26.04m, while professional services revenue grew 20% to $9.9m.

Greg Gianforte, founder and chief executive at RightNow, said: We are pleased to report earnings per share ahead of guidance. That said, we saw some impact from the current macroeconomic conditions on our sales in the first quarter. While we remain cautious in the current environment, we believe the pipeline for Q2 is strong with a good mix of opportunities across deal sizes, verticals, and geographies. We continue to focus on taking care of the customer and growing profitability in 2009.

Looking ahead to the second quarter, the company expects revenue to be approximately $36m and net loss per share in the range of $0.04 to $0.02. For fiscal 2009, it expects revenue between $147m and $151m and diluted EPS in the range of a loss of $0.02 to a profit of $0.03.

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