One month after filing an IPO that raised closed to $80 million, Responsys announced first quarter revenues were up 56% to $30.1 million, from $19.4 million in the same period last year.
The provider of email and cross-channel marketing solutions saw significant gains from its professional services division, with revenue for the first quarter of 2011 reaching $9.2 million, up 102% from $4.5 million in the first quarter of 2010.
Subscription revenue for the first quarter of 2011 was $21.0 million, up 41% from $14.9 million in the first quarter of 2010.
"We began 2011 with strong momentum as leading companies continue turning to Responsys for help executing highly effective relationship marketing programs across today’s key interactive channels – email, mobile, social and the web,” said Dan Springer, CEO of Responsys.
Responsys has been issuing guidance for the second quarter 2011 and fiscal year 2011 and their expectations; for the second quarter 2011, the company expects the total revenue to be in the range of $30- 31 million. The non-GAAP net income is expected to be approximately $1.5 million, or approximately $0.03 per share on a non-GAAP diluted basis.
As for the fiscal year 2011, the company expects full year 2011 revenue to be in the range of $125 million to $127 million and the non-GAAP net income is expected to be in the range of $7 million to $8 million, or $0.14 to $0.16 per share on a non-GAAP diluted basis. Non-GAAP net income for the second quarter and fiscal year 2011 assumes an effective tax rate of 40%.