| Delaware | 001-33707 | 04-3285398 | ||
|
(State or Other Jurisdiction of
Incorporation) |
(Commission File Number) |
(IRS Employer
Identification No.) |
||
| Reservoir Place | ||
| 1601 Trapelo Road, Suite 329 | ||
| Waltham, Massachusetts | 02451 | |
| (Address of principal executive offices) | (Zip Code) | |
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
|
Ex-99.1 Press release entitled Constant Contact Announces Third Quarter 2009 Financial Results
|
(d)
Exhibits
The following exhibit relating to Item 2.02 shall be deemed to be furnished, and not filed:
99.1
Press release entitled Constant Contact Announces Third Quarter 2009
Financial Results, issued by the Company on November 5, 2009.
CONSTANT CONTACT, INC.
Date: November 5, 2009
By:
/s/ Robert P. Nault
Robert P. Nault
Vice President and General Counsel
| | Added approximately 19,400 net new email marketing customers, bringing total email marketing customers to over 324,200. | ||
| | Maintained consistency in its key customer metrics. The average email marketing invoice remained in the $33 range, plus or minus two dollars. The number of customers in the $15 and $30 revenue bands remained at 80%, plus or minus one percent, and the monthly retention rate remained in its historical range of 97.8%, plus or minus 0.5%. | ||
| | Had great early success relative to its recently released Event Marketing product, with thousands of organizations already trialing the product and hundreds signed up as paying customers. Constant Contact Event Marketing was available on a limited basis during the third quarter and became generally available during the fourth quarter. More information about Constant Contact event marketing and what it can do for your small business is available at: http://www.constantcontact.com/event-marketing/ | ||
| | Expanded its team of small business marketing experts known as regional development directors, or RDDs. The company currently has 17 RDDs located across the United States helping to coach and mentor small businesses and organizations on topics such as best practices in email marketing, integrating social media with email marketing, surveying and getting feedback from customers and how small businesses can host, manage and promote great events. | ||
| | Eric Groves authored our latest book, The Constant Contact Guide to Email Marketing, which was published by Wiley Publishing. Groves is the Senior Vice President, Global Market Development at Constant Contact and his book jumped to the Amazon 100 list within the first two weeks of its availability. More information on the book is available at: http://www.constantcontact.com/learning-center/email-marketing-guide/index.jsp | ||
| | The Company released its social networking share bar that allows customers to share their email marketing campaigns through popular social media sites. This release was accompanied by small business social media best practices, hints and tips, tutorials, webinars, and educational content delivered through RDDs. Follow us on Twitter TM @ConstantContact and join the Constant Contact fan page on Facebook ® . | ||
| | Continued to get traction on its web services integration; presently over five percent of email marketing customers are using at least one Constant Contact AppConnect TM web services integration. Constant Contacts long-time partner Softerware is using AppConnect to enhance integration between DonorPerfect TM , their non-profit fundraising software, and Constant Contact. | ||
| | Announced InfoTransfer Version 1.0 for Salesforce, an integration with Salesforce.com ® that allows users to easily and accurately share their Salesforce.com contacts with their Constant Contact Email Marketing account. |
|
What:
|
Constant Contact third quarter 2009 financial results conference call | |
|
When:
|
Thursday, November 5, 2009 | |
|
Time:
|
5:00 p.m. ET | |
|
Live Call:
|
(888) 401-4685, domestic | |
|
Replay: |
(719) 325-2352, international
(888) 203-1112, passcode 3514304, domestic (719) 457-0820, passcode 3514304, international |
|
|
Webcast:
|
http://investor.constantcontact.com/ (live and replay) |
|
Media Contact:
|
Investor Contact: | |
|
Christopher Nahil
|
Jeremiah Sisitsky | |
|
Constant Contact
|
Constant Contact | |
|
(781) 472-8134
|
(339) 222-5740 | |
|
cnahil@constantcontact.com
|
jsisitsky@constantcontact.com |
Consolidated Condensed Statements of Operations (unaudited)
(In thousands, except per share data)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2009
2008
2009
2008
$
33,533
$
22,859
$
92,606
$
61,797
9,927
6,554
26,953
16,986
23,606
16,305
65,653
44,811
4,663
3,935
13,334
10,965
14,169
10,819
42,281
29,707
3,432
2,564
9,950
6,888
22,264
17,318
65,565
47,560
1,342
(1,013
)
88
(2,749
)
128
614
414
2,299
1,470
(399
)
502
(450
)
$
0.05
$
(0.01
)
$
0.02
$
(0.02
)
$
0.05
$
(0.01
)
$
0.02
$
(0.02
)
28,304
28,036
28,219
27,814
29,569
28,036
29,447
27,814
Calculation of Adjusted EBITDA and Adjusted EBITDA Margin (unaudited)
(In thousands)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2009
2008
2009
2008
$
1,470
$
(399
)
$
502
$
(450
)
(128
)
(614
)
(414
)
(2,299
)
1,342
(1,013
)
88
(2,749
)
2,284
1,629
6,045
3,859
1,301
757
3,613
1,961
$
4,927
$
1,373
$
9,746
$
3,071
$
33,533
$
22,859
$
92,606
$
61,797
14.7
%
6.0
%
10.5
%
5.0
%
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2009 | 2008 | 2009 | 2008 | |||||||||||||
|
Net income (loss)
|
$ | 1,470 | $ | (399 | ) | $ | 502 | $ | (450 | ) | ||||||
|
|
||||||||||||||||
|
Add back:
|
||||||||||||||||
|
Stock-based
compensation
expense
|
1,301 | 757 | 3,613 | 1,961 | ||||||||||||
|
|
||||||||||||||||
|
|
||||||||||||||||
|
Non-GAAP net income
|
$ | 2,771 | $ | 358 | $ | 4,115 | $ | 1,511 | ||||||||
|
|
||||||||||||||||
|
|
||||||||||||||||
|
Non-GAAP net income per share:
|
||||||||||||||||
|
Basic
|
$ | 0.10 | $ | 0.01 | $ | 0.15 | $ | 0.05 | ||||||||
|
Diluted
|
$ | 0.09 | $ | 0.01 | $ | 0.14 | $ | 0.05 | ||||||||
|
|
||||||||||||||||
|
Weighted average shares outstanding used
in computing per share amounts:
|
||||||||||||||||
|
Basic
|
28,304 | 28,036 | 28,219 | 27,814 | ||||||||||||
|
Diluted
|
29,569 | 29,388 | 29,447 | 29,237 | ||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2009 | 2008 | 2009 | 2008 | |||||||||||||
|
Net cash provided by operating activities
|
$ | 6,645 | $ | 1,698 | $ | 16,241 | $ | 10,783 | ||||||||
|
|
||||||||||||||||
|
Subtract:
|
||||||||||||||||
|
Acquisition of property and equipment
|
(3,213 | ) | (2,895 | ) | (13,210 | ) | (11,028 | ) | ||||||||
|
|
||||||||||||||||
|
|
||||||||||||||||
|
Free cash flow
|
$ | 3,432 | $ | (1,197 | ) | $ | 3,031 | $ | (245 | ) | ||||||
|
|
||||||||||||||||
Consolidated Condensed Balance Sheets (unaudited)
(In thousands)
September 30,
December 31,
2009
2008
$
53,347
$
73,243
57,089
33,932
83
40
3,302
3,670
113,821
110,885
23,026
15,799
750
308
251
150
$
137,848
$
127,142
$
3,065
$
4,786
7,379
5,461
19,393
15,052
29,837
25,299
3,161
1,853
32,998
27,152
284
282
148,803
144,414
73
106
(44,310
)
(44,812
)
104,850
99,990
$
137,848
$
127,142
Consolidated Condensed Statements of Cash Flows (unaudited)
(In thousands)
Nine Months Ended September 30,
2009
2008
$
502
$
(450
)
6,045
3,859
16
(18
)
3,613
1,961
(7
)
(1
)
(5
)
(36
)
(10
)
368
(1,200
)
(101
)
34
(1,721
)
451
1,918
2,376
4,341
3,747
1,308
34
16,241
10,783
(54,600
)
19,400
4,500
11,999
(442
)
(13,210
)
(11,028
)
(36,853
)
(6,528
)
433
211
283
229
4,009
716
4,449
(19,896
)
8,704
73,243
97,051
$
53,347
$
105,755