ServiceSource 2013 Q4 revenue up 15% over prior year's 4Q

ServiceSource (NASDAQ: SREV) said it has reported revenue was USD77.2m in the fourth quarter, representing a 15% increase over the USD67.3m delivered in the prior year. Revenue for the full year 2013 was USD272.5m, up 12% from USD243.7m in 2012.

For the fourth quarter of fiscal year 2013, adjusted EBITDA was USD8.6m, compared with USD8.3m for the same period last year. GAAP net loss in the quarter was USD2.0m, or USD0.02 per share, compared with loss of USD1.2m, or USD0.02 per share for the same period last year. Non-GAAP net income in the quarter was USD3.2m compared with USD3.6m for the same period last year. Non-GAAP EPS was USD0.04 per diluted share, compared with USD0.05 per diluted share for the same period last year.

For the full year 2013, adjusted EBITDA was USD17.7m, compared with USD20.9m for fiscal year 2012. GAAP net loss for the year was USD22.9m, or USD0.29 loss per share, compared with a loss of USD42.8m, or USD0.58 loss per share for 2012. Non-GAAP net income for the year was USD5.3m, compared with USD7.9m in 2012. Non-GAAP EPS was USD0.06 per diluted share, compared with USD0.10 per diluted share for 2012.

ServiceSource International is the leader in cloud-based recurring revenue management solutions. Headquartered in the Cloud Corridor of San Francisco, ServiceSource manages USD14.5bn in recurring revenue for the world´s largest and most respected technology and B2B companies. For more information, see www.servicesource.com.

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