Jive Software (JIVE) Tops Q1 EPS by 3c

Jive Software (NASDAQ: JIVE) reported Q1 EPS of ($0.04), $0.03 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $50.7 million versus the consensus estimate of $49.9 million.

"Jive delivered first quarter results that were in line with or exceeded guidance," said Elisa Steele, CEO of Jive Software. "Our top priorities this year are to improve execution and reach sustainable profitability. Excluding the impact of the costs associated with our realignment plan, we expect to achieve non-GAAP operating profitability in the second quarter of 2016 for the first time."

"Over the past year, we have taken several steps to balance between topline growth and profitability including new product innovations, new go-to-market strategies, new leadership and continued expense management. Following our first quarter results, and upon rigorous evaluation of our business, we have taken action to deliver sustainable non-GAAP operating profitability beginning in the second quarter. Through our realignment plan, we will create a more disciplined go-to-market focus that better leverages our competitive differentiation. We will also restructure our organization to align with this sharper strategy and re-allocate resources to maximize our most promising opportunities. These actions are intended to help us improve revenue and enable us to reach sustainable non-GAAP operating profitability in the near term, while positioning us for growth over the longer term," said Steele.

GUIDANCE:

Jive Software sees Q2 2016 EPS of $0.00-$0.01, versus the consensus of ($0.03). Jive Software sees Q2 2016 revenue of $49.3-50.2 million, versus the consensus of $50.14 million.

For earnings history and earnings-related data on Jive Software (JIVE) click here.

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