SciQuest Q1 2014 revenues up from last year's Q1

SciQuest, Inc. (NASDAQ: SQI) said it reported GAAP revenues of USD25.4m for the quarter ended March 31, 2014 compared to USD20.7m in the first quarter of 2013.

GAAP loss from operations in the first quarter of 2014 was USD0.1m compared to GAAP loss from operations of USD1.3m in the first quarter of 2013. GAAP net income was USD0.1m in the first quarter of 2014 compared to GAAP net loss of USD0.6m in the same quarter in the prior year.

GAAP diluted net income per share was breakeven in the first quarter of 2014 based on 24.5m weighted average diluted shares outstanding. GAAP basic net loss per share in the first quarter of 2013 was USD0.03 based on 22.6m weighted average basic shares outstanding.

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. SciQuest solutions enable greater visibility and compliance organization-wide to help you gain control, optimize efficiencies, and reduce spend. Its website is at www.sciquest.com.

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