Zix Corporation (ZIXI) Reports Preliminary Q2 Financials
ZIXI Hot Sheet
EPS Growth %: 0.0%Financial Fact:
Net Income: 2.43M
Today's EPS Names:
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Zix Corporation (Nasdaq: ZIXI) offered a corporate update by its chief executive officer, Rick Spurr.
"The second quarter was another solid quarter for ZixCorp and we are on target to report within the range of our previously-issued guidance," said Spurr. "Preliminary estimates are that we should meet our revenue guidance of $7.3 to $7.6 million and our guidance for adjusted earnings per share (which excludes non-cash stock-based compensation, non-recurring items, and uses an effective tax rate of less than 1 percent) of ($0.01) to $0.00 per share. With the positive indications of future demand for our services, particularly in the Email Encryption business, I feel very upbeat about the direction in which the business is heading." (Consensus is $7.55M and a loss of $0.01, respectively)
"In its Email Encryption business, ZixCorp delivered a record $10.0 million in total orders, including $1.7 million in new first-year orders, the second highest result in the Company's history," continued Spurr.
"Following the earlier announcement that ZixCorp is reviewing strategic alternatives for its e-Prescribing service, we continue with business as usual with respect to executing our existing contracts and providing services to our customers. Our PocketScript business achieved our e-Prescribing deployment guidance for the second quarter with approximately 325 deployments. ZixCorp processed over 2.5 million scripts in the quarter, an increase of approximately 19 percent compared with the same quarter in 2008. In light of our announcement concerning the assessment of this business, we are no longer in negotiations for a large contract with a national payor that could have almost doubled the number of currently active prescribers. We are, however, engaged in payor discussions to improve the profitability of our e-Prescribing business through new pricing arrangements and service enhancements."[SM]
"The second quarter was another solid quarter for ZixCorp and we are on target to report within the range of our previously-issued guidance," said Spurr. "Preliminary estimates are that we should meet our revenue guidance of $7.3 to $7.6 million and our guidance for adjusted earnings per share (which excludes non-cash stock-based compensation, non-recurring items, and uses an effective tax rate of less than 1 percent) of ($0.01) to $0.00 per share. With the positive indications of future demand for our services, particularly in the Email Encryption business, I feel very upbeat about the direction in which the business is heading." (Consensus is $7.55M and a loss of $0.01, respectively)
"In its Email Encryption business, ZixCorp delivered a record $10.0 million in total orders, including $1.7 million in new first-year orders, the second highest result in the Company's history," continued Spurr.
"Following the earlier announcement that ZixCorp is reviewing strategic alternatives for its e-Prescribing service, we continue with business as usual with respect to executing our existing contracts and providing services to our customers. Our PocketScript business achieved our e-Prescribing deployment guidance for the second quarter with approximately 325 deployments. ZixCorp processed over 2.5 million scripts in the quarter, an increase of approximately 19 percent compared with the same quarter in 2008. In light of our announcement concerning the assessment of this business, we are no longer in negotiations for a large contract with a national payor that could have almost doubled the number of currently active prescribers. We are, however, engaged in payor discussions to improve the profitability of our e-Prescribing business through new pricing arrangements and service enhancements."[SM]
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