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What: Shares of Responsys (NAS: MKTG) tanked hard today, down by 34% at the low, after the company reported earnings and worse-than-expected guidance.
So what: Third-quarter revenue added up to $40.5 million, resulting in non-GAAP net income of $3 million, or $0.06 per share. Subscription revenue was $28.5 million, a 19.4% increase. Those were mostly in line with market expectations, but the company's guidance disappointed investors.
Now what: Fiscal 2012 revenue should be in the range of $160 million to $161 million, with non-GAAP earnings per share of approximately $0.20 per share. Responsys should recognize $2.7 million in intangible amortization and incur $6.5 million in stock-based compensation, totals that are excluded from the non-GAAP figure. Next quarter should see sales between $42 million and $43 million.
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The article Why Responsys Shares Tanked Hard originally appeared on Fool.com.
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