CAMBRIDGE, MA -- (Marketwire) -- 02/20/13 -- Pegasystems Inc. (NASDAQ: PEGA), the leader in Business Process Management (BPM) and a leading provider of Customer Relationship Management (CRM) solutions, today announced financial results for the fourth quarter and year ended December 31, 2012. Revenue for the fourth quarter of 2012 increased 25% compared to the fourth quarter of 2011. Net income for the fourth quarter of 2012 was $20.4 million, or $0.53 per diluted share, compared to net loss of $1.9 million, or $(0.05) per diluted share, for the fourth quarter of 2011. Revenue for 2012 increased 11% to $461.7 million compared to 2011. Net income for 2012 was $21.9 million, or $0.56 per diluted share, compared to net income of $10.1 million, or $0.26 per diluted share for 2011.
SELECTED FINANCIAL RESULTS Three Months Ended Year Ended December 31, December 31,($ in '000s) 2012 2011 2012 2011 ---------- --------- ---------- ----------Total revenue $ 143,830 $ 115,294 $ 461,710 $ 416,675Income from operations $ 27,790 $ 3,704 $ 31,426 $ 10,494Net income (loss) $ 20,409 $ (1,855) $ 21,868 $ 10,108Net earnings (loss) per share, basic $ 0.54 $ (0.05) $ 0.58 $ 0.27Net earnings (loss) per share, diluted $ 0.53 $ (0.05) $ 0.56 $ 0.26
Business Perspective
"We had an extraordinary finish to the year as clients turned to our Build for Change® technology to improve customer experience and drive operational efficiency," said Alan Trefler, Founder and CEO of Pegasystems. "Our uniquely unified BPM and CRM offering continued to resonate globally as we achieved record bookings in the fourth quarter from both new and existing clients who deepened and broadened their commitments to Pega. We gained important new name customers in the public sector, as well as two of the world's top five global insurance companies. In addition to the 18% license revenue growth for 2012, our deepening relationships with customers added over $45 million to our license backlog. We continue to see buyers using Pega to more effectively future-proof their existing systems and ERP investments, leveraging Pega to dramatically increase business agility as well as fuel rapid and continuous innovation."
"We anticipate our growth momentum to continue as we move into 2013, with forecasted annual revenues targeting $510 million and forecasted net income of approximately $33.2 million or $0.83 per diluted share on a GAAP basis, or $48.1 million or $1.20 per diluted share on a Non-GAAP basis. Similar to years past, we expect 2013 will be back-end loaded, and therefore revenue for the first half of 2013 is anticipated to be about 45% of annual guidance," concluded Mr. Trefler.
