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LivePerson, Inc. (LPSN) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $5.88 million, or $ 0.10 a share in the quarter, against a net profit of $1.92 million, or $0.03 a share in the last year period.
Revenue during the quarter dropped 10.27 percent to $54.52 million from $60.76 million in the previous year period. Gross margin for the quarter expanded 278 basis points over the previous year period to 72.79 percent. Operating margin for the quarter stood at negative 4.73 percent as compared to a positive 3.13 percent for the previous year period.
Operating loss for the quarter was $2.58 million, compared with an operating income of $1.90 million in the previous year period.
"With solid third quarter execution, we now have more than one-third of software revenue on LiveEngage and a similar amount already in the process of migrating," said chief executive officer Robert LoCascio. "We also strengthened our industry leadership by expanding our portfolio of messaging solutions, adding new messaging customers, and holding an exclusive industry summit alongside flagship customer T-Mobile. Finally, we continued to enhance our operating model by leveraging the shift to LiveEngage. The tools to transform the customer care industry and our own business are now firmly in our hands."
For the fourth-quarter, Liveperson projects revenue to be in the range of $55.80 million to $56.80 million. The company expects net loss to be in the range of $2.50 million to $1.80 million. The company forecasts adjusted net income to be in the range of $0.40 million to $1.10 million. The company forecasts diluted loss per share to be in the range of $0.05 to $0.03. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $0.01 to $0.02.
For fiscal year 2016, Liveperson projects revenue to be in the range of $222.50 million to $223.50 million. The company expects net loss to be in the range of $18.80 million to $18.10 million. The company forecasts adjusted net loss to be in the range of $4.90 million to $4.10 million. The company forecasts diluted loss per share to be in the range of $0.34 to $0.32. The company forecasts diluted loss per share to be in the range of $0.09 to $0.07 on adjusted basis.
Working capital declines
LivePerson, Inc. has witnessed a decline in the working capital over the last year. It stood at $30.88 million as at Sep. 30, 2016, down 20.26 percent or $7.84 million from $38.73 million on Sep. 30, 2015. Current ratio was at 1.48 as on Sep. 30, 2016, down from 1.72 on Sep. 30, 2015.
Days sales outstanding went up to 52 days for the quarter compared with 49 days for the same period last year.
At the same time, days payable outstanding went up to 53 days for the quarter from 46 for the same period last year.
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