RightNow ups outlook, names new operating chief
RightNow Technologies, an on-demand CRM software player, raised its third quarter outlook and named Wayne Huyard as chief operating officer.
Ahead of the kickoff of its user conference, RightNow said that it will report revenue of $48 million, well ahead of its previous target. Non-GAAP earnings will be 14 cents a share for the third quarter and 7 cents a share under generally accepted accounting principles.
Wall Street was looking for earnings of 12 cents a share on revenue of $45 million.
Separately, RightNow named Huyard as its operating chief. Huyard joined the company in July. Previously, Huyard was at MCI, WorldCom and Verizon. Susan Carstensen, the former chief operating officer of RightNow, will lead the company's global services unit.
Analysts at RightNow's analyst meeting were generally upbeat about the company's outlook. In a research note, Stifel Nicolaus analyst Tom Roderick said:
While the press release this morning did not lay out formal bookings commentary, RightNow CFO Jeff Davison did provide some further details in an analyst Day presentation this morning in Colorado Springs. Mr. Davison detailed that the company's total bookings this quarter were $85mn, driven by the strength of 15 seven-figure deals during the quarter. As we suggested in our note this morning, the Public Sector vertical was indeed a key source of strength during the quarter, accounting for one particularly outsized deal. The other key vertical in the quarter was Entertainment, which also accounted for a major deal in the quarter. Both deals were with existing customers.
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