Stock Monitor: CounterPath Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 18, 2017 / Active-Investors free earnings report on BroadSoft, Inc. (NASDAQ: BSFT) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=BSFT. Broadsoft posted its third quarter fiscal 2017 (Q3 FY17) financial results on November 06, 2017. The leading provider of telecommunications software saw its Subscription and Maintenance Support segment's revenue advanced 19.20% on a y-o-y basis. Register today and get free access to our complimentary member's area where many more reports are available:
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Earnings Highlights and Summary
During the third quarter of fiscal 2017, BroadSoft's total revenue advanced 8.74% to $91.47 million on a y-o-y basis compared to $84.12 million in Q3 FY16. Revenue numbers' topped analysts' estimates of $87.90 million.
BroadSoft posted gross profit of $64.78 million in the reported quarter compared to $60.37 million in Q3 FY16, increasing by 7.31%. Non-GAAP gross profit was $68.90 million in the reported quarter compared to $64.30 million in Q3 FY16, reflecting growth of 7.15% on a y-o-y basis. The Company posted operating income of $0.57 million in Q3 FY17 compared to $1.57 million in Q3 FY16.
BroadSoft's net loss was $2.67 million in Q3 FY17 compared to a net loss of $0.61 million in Q3 FY16. On a non-GAAP basis, the Company, had net income of $12.40 million in Q3 FY17 compared to $12.70 million in Q3 FY16, declining by 2.36% on a y-o-y basis.
BroadSoft posted net loss of $0.09 per common share in Q3 FY17 compared to a net loss of $0.02 per common share. The Company posted adjusted earnings of $0.38 in the reported quarter compared to $0.40 in Q3 FY16, declining by 5.00% y-o-y, and beating analysts' estimates of $0.36.
BroadSoft's Segment Details
BroadSoft has three business segments namely: (i) License Software segment; (ii) Subscription and Maintenance Support segment; and (iii) Professional Services and Other segment.
The Company's License Software segment had revenues of $30.59 million in Q3 FY17 compared to $31.49 million in Q3 FY16, declining by 2.86% due to decrease in emerging markets license software revenue.
The Subscription and Maintenance Support segment's revenue was $43.52 million in the reported quarter compared to $36.51 million in Q3 FY16, reflecting growth of 19.20% on a y-o-y basis, due to contributions from recent acquisitions and growth in the Company's installed base of customers, who purchase maintenance support revenue.
The Professional Services and Other segment's revenue advanced 7.68% to $17.37 million in Q3 FY17 compared to $16.13 million in Q3 FY16, due to the timing of revenue recognition associated with certain transformational projects.
BroadSoft has three geographic segments, namely: (i) North America; (ii) Europe, Middle-East, and Africa (EMEA); and (iii) Emerging Markets.
Revenues of its North America segment were $55.67 million in Q3 FY17 compared to $46.70 million in Q3 FY16, advancing 19.21% on ay-o-y basis due to an increase in License Software's revenues and Subscription and Maintenance Support's revenues in this geographic region.
Revenues from the EMEA segment were $25.98 million in the reported quarter compared to $23.53 million in Q3 FY16, advancing 10.39% on a y-o-y basis due to an increase in revenues of License Software and Subscription and Maintenance Support segment.
The Company's Emerging Market segment's revenues declined 29.24% to $9.83 million in the reported quarter on a y-o-y basis from $13.90 million in Q3 FY16, due to a decrease in License Software segment's revenue.
BroadSoft had cash and cash equivalents of $129.55 million in Q3 FY17 for nine months ending September 30, 2017, compared to $100.05 million for the same period ending September 30, 2016. The Company had net cash flow by operating activities of $40.72 million in the reported quarter compared to $47.94 million in Q3 FY16. On October 20, 2017, BroadSoft entered in a merger agreement with Cisco Systems and Brooklyn Acquisition, which is expected to close in the next financial year.
For the fiscal year 2018, Broadsoft expects EPS of $1.03, and in Q4 FY17, the Company expects an EPS of $0.96.
Stock Performance Snapshot
December 15, 2017 - At Friday's closing bell, BroadSoft's stock marginally climbed 0.27%, ending the trading session at $54.75.
Volume traded for the day: 1.27 million shares, which was above the 3-month average volume of 1.23 million shares.
Stock performance in the last month – up 0.37%; previous three-month period – up 5.80%; past twelve-month period – up 35.77%; and year-to-date – up 32.73%
After last Friday's close, BroadSoft's market cap was at $1.73 billion.
The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.9% at the end of the session.
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