Business
Rainmaker Reports Third Quarter 2013 Financial Results
Rainmaker Reports Third Quarter 2013 Financial Results.
About this update from Rainmaker Systems Inc
[{"type":"text","content":"\n \n \n Rainmaker Reports Third Quarter 2013 Financial Results\n \n \nRainmaker Reports Third Quarter 2013 Financial Results\n \n CAMPBELL, CA--(Marketwired - Nov 18, 2013) - Rainmaker Systems, Inc. (OTCQX: RMKR), a provider of B2B e-Commerce solutions and services, today reported financial results for its fiscal quarter ended September 30, 2013. \n Net revenue in the third quarter of 2013 was $4.2 million, compared to net revenue in the preceding quarter of $4.7 million and net revenue in the third quarter of 2012 of $6.9 million. Net revenue for the nine months ended September 30, 2013 was $13.5 million compared to $20.2 million in the 2012 comparative period. \n Net loss from continuing operations for the third quarter of 2013 was $3.6 million, or a net loss of $0.09 per share, compared to a net loss from continuing operations in the preceding quarter of $3.0 million, or a net loss of $0.08 per share, and a net loss from continuing operations in the third quarter of 2012 of $0.9 million, or a net loss of $0.03 per share. Net loss from continuing operations for the nine months ended September 30, 2013 was $10.0 million, or a net loss of $0.28 per share, compared to a net loss from continuing operations of $3.0 million, or a net loss of $0.11 per share, in the 2012 comparative period.\n The results above include a charge in connection with a $458,000 overstatement of credit card receivables relating to a service contract with a former customer.\n Total cash and cash equivalents were $4.2 million at September 30, 2013, compared to $4.5 million at December 31, 2012. \n \"Please join us for our earnings conference call scheduled for this Thursday, November 21, 2013, to learn about key updates regarding our turnaround plan,\" said Don Massaro, President and CEO.\n Conference Call \n Rainmaker Systems will host a conference call and webcast Thursday, November 21, 2013, at 2 p.m. Pacific Daylight Time (5 p.m. Eastern Daylight Time) to discuss its third quarter 2013 financial results. Those wishing to participate in the live call should dial 888-539-3612 using the passcode 2593666. A replay of the call will be available for one week beginning approximately two hours after the call's conclusion by dialing 888-203-1112 and entering the passcode 2593666. To access the live webcast of the call, go to the Investors sec...