BroadSoft Beats Again, Raises Guidance

August 8th, 2011 by · Leave a Comment

It's been several quarters of outsized results for Broadsoft (NASDAQ:BSFT, news, filings) now, following today's easy beat of guidance and analyst estimates.  With both the VoIP and cloud sectors advancing, the communications software platform provider has been in a sweet spot lately.  Here's a quick summary of their data in the context of the prior four quarters:

($ in millions) Q2/10 Q3/10 Q4/10 Q1/11 Q2/11 Q3/11

(guidance)

FY11

(guidance)

-Licensing $10.6 $12.9 $21.1 $15.2 $19.2
-Maintenance&Services $9.1 $9.4 $14.7 $14.5 $13.0
Revenue $19.7 $22.3 $35.8 $29.7 $32.2 $31-33 $127-130M
Cost of revenue $5.1 $4.9 $5.3 $5.8 $6.2
Operating expenses $16.3 $15.9 $18.5 $19.7 $20.3
Non-GAAP Earnings per share (0.03) 0.08 $0.44 $0.18 $0.29 $0.20-0.23

$0.90-0.95

Revenues of $32.2M easily bested guidance of $28-29M, while non-GAAP earnings per share of $0.29 were some $0.19 above the midpoint of guidance.  Guidance for the third quarter at similar revenues and a bit less earnings per share was well in excess of estimates.  Such numbers naturally required raising guidance, which BroadSoft followed through on by projecting revenues of $127-130M and non-GAAP EPS of $0.90-0.95.

The stock is up 20% in the pre-market in response, though we'll see where the day takes us.

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Categories: Financials · Software · VoIP

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