SciQuest revenues up from previous year's quarter

SciQuest, Inc. (NASDAQ: SQI) has reported GAAP revenues of USD22.5m for its third quarter ended September 30, 2013 compared to USD17.2m in the third quarter of 2012.

GAAP loss from operations in the third quarter of 2013 was USD1.8m compared to GAAP loss from operations of USD0.1m in the third quarter of 2012. GAAP net loss was USD2.4m in the third quarter of 2013 compared to GAAP net income of USD0.7m in the same quarter in the prior year. The primary drivers of the decline from 2012 were the expected impacts of the acquisitions.

GAAP basic net loss per share was USD0.10 in the third quarter of 2013 based on 23.1m average basic shares outstanding. GAAP diluted net income per share in the third quarter of 2012 was USD0.03 based on 22.7m average diluted shares outstanding.

Non-GAAP revenues in the third quarter of 2013 were USD23.5m, up 33% from the prior year.

SciQuest is the largest publicly held pure-play provider of cloud-based, business automation solutions for spend management offering deep domain knowledge and a leading, customer-driven portfolio. The company´s website is at www.sciquest.com.

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