Net income declined by 5.7% to $3.3m
Interactive Intelligence Group, a provider of unified IP business communications offerings, has reported revenues of $52.1m for the third quarter ended 30 September 2011, a 25% increase over the third quarter of 2010.
On a generally accepted accounting principles (GAAP) basis, the company posted $3.3m in net income for the third quarter 2011, a decline of 5.7% compared to $3.5m in the previous year quarter.
GAAP operating income was $4.7m in the third quarter 2011, a decline of 16% compared to $5.6m in the same quarter previous year.
On a non-GAAP basis, operating income was $6.6m, net income was $5.8m, and EPS was $0.29 in the third quarter of 2011, compared to operating income of $6.7m, net income of $7m, and EPS of $0.37 in the third quarter of 2010, the company said.
The company said that cloud-based orders received during the quarter more than doubled from the 2010 third quarter, increasing to 31% of total orders from 18% in the same quarter last year.
Interactive Intelligence founder and CEO Donald Brown said there is clearly a market shift toward cloud-based contact centres and they are focused on extending their leadership position in the high end of this segment.
"We manage our business based on winning a customer and the long-term value of that customer. We look beyond the short-term revenue recognition effects of these transactions as we continue the strategy of building an increasing recurring revenue stream," Brown said.