NEW YORK, NY - November 21, 2003 - LivePerson, Inc. (NASDAQ: LPSN), a leading Application Service Provider (ASP) of technology facilitating real-time sales, customer service and marketing solutions for companies doing business on the Internet, today announced financial guidance for 2004 and reaffirmed its previous guidance for the fourth quarter of 2003.
CEO Robert LoCascio stated, "We have experienced solid preliminary results in the fourth quarter of 2003, and expect this trend to continue into 2004. We expect revenue to grow approximately 50% to $18 million in 2004. We also expect EBITDA per share of $0.12 in 2004. In addition, we are reaffirming our prior guidance for Q4 2003."
Current Financial Expectations For the full year 2004: * Revenue of $18 million * EBITDA per share of $0.12 and GAAP EPS of $0.10 For Q4 2003: * Revenue of $3.4 million * EBITDA per share of $0.02 and GAAP EPS of $0.01
The difference between EBITDA per share, a non-GAAP measure, and GAAP EPS is interest, taxes, depreciation and amortization.
LivePerson (www.liveperson.com) is an Application Service Provider (ASP) of technology facilitating real-time sales, customer service and marketing solutions for companies doing business on the Internet. The LivePerson services enable online businesses to communicate securely with Internet users in real time, thereby enhancing the online experience. With real-time solutions consisting of chat, marketing and selling tools, a self-service FAQ product and email management, LivePerson offers clients the opportunity to increase sales, lower customer service costs and increase responsiveness to customer needs. The company serves EarthLink, QVC, eBay, Ameritrade, American Airlines Credit Union and over 3,000 other clients. LivePerson is headquartered in New York City, with R&D facilities in Tel Aviv, Israel.
EBITDA Financial Disclosure
Investors are cautioned that the EBITDA, or earnings before interest, taxes, depreciation and amortization, information contained in this press release is not a financial measure under generally accepted accounting principles (GAAP). In addition, it should not be construed as an alternative to any other measures of performance determined in accordance with GAAP, or as an indicator of our operating performance, liquidity or cash flows generated by operating, investing and financing activities, as there may be significant factors or trends that it fails to address. We present this financial information because we believe that it is helpful to some investors as one measure of our operations. We caution investors that non-GAAP financial information such as EBITDA, by its nature, departs from traditional accounting conventions; accordingly, its use can make it difficult to compare our results with our results from other reporting periods and with the results of other companies.
Forward Looking Statements
Statements in this press release regarding LivePerson, Inc. that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. It is routine for our internal projections and expectations to change as the quarter progresses, and therefore it should be clearly understood that the internal projections and beliefs upon which the Company bases its expectations may change prior to the end of the quarter. Although these expectations may change, we are under no obligation to inform you if they do. Our company policy is generally to provide our expectations only once per quarter, and not to update that information until the next quarter. Actual events or results may differ materially from those contained in the projections or forward-looking statements. The following factors, among others, could cause LivePerson's actual results to differ materially from those described in a forward-looking statement: the limited history of providing the LivePerson services; our limited historical annual revenue and history of losses; the possible unavailability of financing as and if needed; an unproven business model; our dependence on the success of the LivePerson chat service; continued use by our clients of the LivePerson services; potential fluctuations in our quarterly and annual results; risks related to adverse business conditions experienced by our clients; our dependence on key employees; risks related to our international operation, particularly our operations in Tel Aviv, Israel, and the current civil and political unrest in that region; competition for qualified personnel; competition in the real-time sales and customer service technology market; building awareness of the LivePerson brand name; technology systems beyond LivePerson's control and technology-related defects that could disrupt the LivePerson services; our dependence on the growth of the Internet as a medium for commerce and the viability of the infrastructure of the Internet; and responding to rapid technological change. This list is intended to identify only certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements. Readers are referred to the reports and documents filed from time to time by LivePerson with the Securities and Exchange Commission for a discussion of these and other important risk factors that could cause actual results to differ from those discussed in forward-looking statements.
Media Contacts: Jennifer Regnault Budd Zuckerman LivePerson, Inc. Genesis Select Corp. (212) 609-4213 (303) 415-0200 firstname.lastname@example.org email@example.com
SOURCE: LivePerson, Inc.
CONTACT: Younjee Kim, +1-212-609-4222, firstname.lastname@example.org
Web site: http://www.liveperson.com/