Online customer relationship management provider Salesforce.com saw revenue rise by a whopping 48 per cent during its third fiscal quarter.
The firm's chairman and chief executive Marc Benioff said on Friday that he expects Salesforce.com to become the first ever on-demand company to exceed $1bn in annual revenue in fiscal 2009, its next trading year.
Net income reached $6.5m or $0.05 per share, compared to net income of $399,000 or $0.00 per share for the same three-month period a year ago.
The San Francisco-based company has seen revenues soar during its current trading year. During the first quarter of fiscal 2008, Salesforce achieved revenue of $162.4m up 55 per cent year-on-year. For its second quarter, the company posted revenues of $176.6m, up 49 per cent versus the same period a year ago. Now for its third quarter, the firm has recorded revenue of $192.8m, up 48 per cent year-on-year.
Subscription and support revenues were $176.4m for the third quarter, an increase of 49 per cent on a year-over-year basis and a rise of 10 per cent versus the preceding quarter.
Professional services and other revenues were $16.4m, an increase of 41 per cent compared to the same three-month period a year ago and a decrease of one per cent on a quarter-over-quarter basis.
Salesforce added approximately 2,800 net paying customers during the last quarter to give it a total of 38,100 customers, an increase of 11,000 or 41 per cent versus the third quarter last year and an eight per cent rise on the preceding quarter.
Looking ahead, the company said it expects fourth quarter revenue to be in the range of between $206m to $208m with net income projected to be in the range of $0.03 to $0.04 per share.
Salesforce also raised its full fiscal year 2008 revenue and earnings per share outlook. Revenue is now expected to be between $737m and $739m, with earnings forecast to be between $0.12 and $0.13 per share.
Earlier in the year, the firm had predicted full-year revenue would be between $727m and $732m with per share earnings of between $0.08 and $0.10.
Lastly, the company said it expects full-year revenue for fiscal 2009 to be between $1bn and $1.02bn.
© 2007 ENN