CHICAGO, Oct. 25 /PRNewswire-FirstCall/ -- Inforte Corp. (NASDAQ: INFT) announced today that revenue for the quarter ending September 30, 2006 was $11.
2 million. Net revenue, which is revenue less reimbursements, was $10.3 million.
Diluted earnings per share (EPS) were three cents.
Stephen Mack, Inforte's chief executive officer and president, commented, "We had a good quarter, exceeding our revenue guidance and meeting our earnings expectations."
Actual results for the quarter ending September 30, 2006, and financial highlights, are as follows:
-- Net revenue was $10.
3 million, representing year over year growth of -- Cash flow from operations was $792,000, continuing a trend of positive cash flow over the last six quarters. Cash flow from operations was -- EPS were three cents. EPS for the first nine months in 2006 were -- Net income for the quarter was $302,000.
-- As of September 30, 2006, cash and marketable securities were -- Days sales outstanding were 54, down from 67 in the third quarter last 210 were billable. This compares to 237 total employees last quarter of employee were $214,000 and $174,000 respectively. Net revenue guidance for the fourth quarter is set at a range of $8.
8 million to $9.8 million and EPS guidance is set at a range of negative four cents to positive two cents.
This press release contains forward-looking statements that involve risks and uncertainties.
Actual results may differ from forward-looking results for a number of reasons, including, but not limited to, Inforte's ability to: (i) effectively forecast demand and profitably match resources with demand; (ii) attract and retain clients and satisfy our clients' expectations; (iii) recruit and retain qualified professionals; (iv) accurately estimate the time and resources necessary for the delivery of our services; (v) build and maintain marketing relationships with leading software vendors while occasionally competing with their professional services organizations; (vi) compete with emerging alternative economic models for delivery, such as offshore development; (vii) integrate acquired businesses; (viii) grow new areas of its business, such as business intelligence and customer analytics; and (ix) identify and successfully offer the solutions that clients demand; as well as other factors discussed from time to time in our SEC filings.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. All forward-looking statements included in this document are made as of the date hereof, based on information available to Inforte on the date thereof, and Inforte assumes no obligation to update any forward-looking statements.
About Inforte Corp.
Inforte helps companies acquire, develop and retain profitable customers with a unique combination of strategic, analytic and technology deployment services. Our approach enables clients to improve their understanding of customer behavior; successfully apply this insight to customer interactions; and continually analyze and fine-tune their strategies and tactics.
Founded in 1993, Inforte is headquartered in Chicago with offices in Atlanta; Dallas; Delhi, India; Hamburg, Germany; London; Los Angeles; San Francisco; and Washington, D.C. For more information, call 800.
340.0200 or visit .
Visit to access the October 25, 2006, Investor Conference Call web cast, which begins at 4:30 p.
m. Eastern.
Total cost of services 6,109 7,012 19,179 19,685 Sales and marketing 638 641 1,942 1,867 and training 324 576 785 1,420 impact of the capital restructuring in the first quarter of 2005.
The total expense of $1,316 included: (i)$848 for charges related to the Of the total expense of $1,316, $292 was charged to Project personnel and related expenses, $119 was charged to sales and marketing, $8 was charged to recruiting, retention and training and $897 was charged to of Operations. The non-GAAP results are provided in order to enhance cash and cash equivalents 2,636 3,014 (8,710) 3,230 beg.
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