REDWOOD CITY, Calif.--(BUSINESS WIRE)--
Model N, Inc. (NYSE: MODN), a leading revenue management solutions
provider to the life science and technology industries, today provided a
business update and preliminary guidance for the first quarter and full
year fiscal 2014.
“Our current revenue visibility has caused us to reduce our financial
expectations for fiscal 2014,” said Zack Rinat, Model N’s Founder,
Chairman, and Chief Executive Officer. “We remain focused on recruiting
a new sales leader to resolve the sales execution challenges we
discussed on last quarter’s earnings conference call. We continue to
believe that our market leading products, large market opportunity,
proven value proposition, and strong pipeline of opportunities position
the company well for the long-term.”
As of September 9, 2013, Model N is providing the following guidance:
-
For the first quarter of fiscal 2014 ending December 31, 2013, the
Company expects:
-
Total revenue to be in the range of $20.0 million to $21.0 million.
-
For the full fiscal year ending September 30, 2014, the Company
expects:
-
Total revenue to be in the range of $70.0 million to $80.0 million.
Business Update Conference Call
Model N will host a conference call today at 2:00 PM Pacific Time (5:00
PM Eastern Time) to review this preliminary guidance for both the first
fiscal quarter and the full fiscal year 2014. To access the call, please
dial (877) 705-6003 in the U.S. or (201) 493-6725 internationally.
Passcode is 10000248. A live webcast of the conference will be
accessible from Model N’s website at: http://investor.modeln.com.
Following the completion of the call through 11:59 p.m. ET on September
16, 2013, a recording will be available for replay at: http://investor.modeln.com
and a telephone replay will be available by dialing (877) 870-5176 in
the U.S. or (858) 384-5517 internationally with recording access code
10000248.
About Model N
Model N is the leader in Revenue Management solutions. Model N helps its
customers maximize their revenue and reduce revenue compliance risk by
managing every dollar that impacts their top line encompassing
contracting, pricing, incentives, and rebates. Model N leverages its
deep industry expertise to support the unique business needs of Life
Sciences and Technology companies in more than 50 countries. Global
Customers include: Actavis, Allergan, Amgen, Atmel, Boston Scientific,
Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck,
Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor,
and STMicroelectronics. Learn more at: http://www.modeln.com.
Model N is traded on the New York Stock Exchange under the symbol MODN.
Forward-Looking Statements
This press release contains forward-looking statements including, among
other things, statements regarding Model N’s first quarter and full year
fiscal 2014 revenue projections. The words “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar
expressions are intended to identify forward-looking statements. These
forward-looking statements are subject to risks, uncertainties, and
assumptions. If the risks materialize or assumptions prove incorrect,
actual results could differ materially from the results implied by these
forward-looking statements. Risks include, but are not limited to: (i)
delays in closing customer contracts; (ii) our ability to recruit a new
sales executive in a timely manner; (iii) our ability to resolve our
sales execution challenges; (iv) the timing of new orders and the
associated revenue recognition; (v) adverse changes in general economic
or market conditions; (vi) delays or reductions in information
technology spending and resulting variability in customer orders from
quarter to quarter; (vii) competitive factors, including but not limited
to pricing pressures, industry consolidation, entry of new competitors
and new applications and marketing initiatives by our competitors;
(viii) our ability to manage our growth effectively; and (ix) acceptance
of our applications and services by customers. Further information on
risks that could affect Model N’s results is included in our filings
with the Securities and Exchange Commission, including our final
prospectus, our quarterly report on Form 10-Q for the quarter ended June
30, 2013, and current reports on Form 8-K that we may file from time to
time. Should any of these risks or uncertainties materialize, actual
results could differ materially from expectations. Model N assumes no
obligation to, and does not currently intend to, update any such
forward-looking statements after the date of this release.
Investor Relations Contact:
ICR for Model N
Greg
Kleiner, 650-610-4998
investorrelations@modeln.com
or
Media
Contact:
Model N
Kristin Dunning, 650-610-4717
Marketing
kdunning@modeln.com
Source: Model N, Inc.