HRchitect featured Taleo in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Kevin Marasco, VP Brand Marketing with Taleo appeared on the HRchitect WebMingle on November 6, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is here to help!
Taleo Corporation , the leading provider of on-demand talent management solutions, today announced its financial results for the quarter ended March 31, 2010.
“This quarter was a testament to a theme we are seeing across our customers’ businesses: talent equals growth,” said Michael Gregoire, Chairman and Chief Executive Officer of Taleo. “As businesses move from cost-cutting to growth, they want insight to find and align the right people with the right initiatives. Customers and prospects alike are embracing Taleo’s talent management solutions to provide that insight and drive their growth strategies.”
First quarter highlights included:
– Revenues of $55.0 million, an increase of 14.5% year-over-year.
– Application revenue of $47.6 million, an increase of 15.4% year-over-year.
– Net income of $0.8 million, or $0.02 per fully diluted share.
– Non-GAAP net income of $6.9 million, or $0.16 per fully diluted share, an increase of 22.0% year-over-year.
– Cash flow from operations of $11.4 million.
– Signed 260 new customers, including 19 new Taleo Enterprise customers and a record 241 new Taleo Business Edition customers.
– Closed 5 large enterprise deals with annual contract values in excess of $250,000.
– Closed largest contract in Taleo’s history for Talent Management suite, through a contract with Hewitt Associates. The contract expands an existing Taleo Recruiting relationship to include Taleo Performance Management.
– Closed acquisition of Worldwide Compensation, Inc. on January 1, 2010, adding compensation management to suite of unified talent management solutions.
First quarter customer momentum included:
– New enterprise customers included: Board of Regents of the University System of Georgia, Brady Corporation, CareFusion 303, Inc., Cincinnati Children’s Hospital Medical Center, DAL Global Services — a Delta Airlines company, HealthSouth Corporation, Kwik Trip, Lance, Inc., Outback Steakhouse, RS Components, UNC Healthcare System, United Supermarkets L.L.C., and the University of Otago.
– Existing enterprise customers also chose Taleo to build out their suite of Talent Management solutions including: RTI International and National Heritage Academies, which have added Taleo Performance Management, and CDW, which completed its suite with Taleo Compensation this quarter.
– New small and medium-sized customers (companies with up to 5,000 employees) included: Bubba Gump, Grand Sierra Resort and Casino, Konica Minolta Systems Lab, NASDAQ, New Look Retailers, Paddy Power and Specialized Bikes. New Talent Management suite customers in this segment include: Capital Care Medical Group, HW Lochner, Jefferson Regional Medical Center, McNeil Technologies, and Teknika HBA.
Taleo delivered the following financial results for the first quarter of 2010:
Revenue: Total revenue for the first quarter was $55.0 million, an increase of 14.5% on a year-over-year basis. Application revenue for the first quarter was $47.6 million, an increase of 15.4% on a year-over-year basis.
Net Income (Loss) and Net Income (Loss) Per Share to Common Stockholders: Net income was $0.8 million for the first quarter, compared to a net loss of $(2.1) million for the same period last year. Net income for the first quarter of 2010 includes $3.1 million in amortization expense related to acquisitions, and $3.2 million in stock-based compensation expense. Net income per fully diluted share was $0.02 for the first quarter, based on 40.3 million fully diluted weighted average shares outstanding, compared to a net loss per share of $(0.07) for the same period last year, based on 30.3 million weighted average shares outstanding.
Non-GAAP Net Income and Non-GAAP Net Income Per Share: Non-GAAP net income was $6.9 million for the first quarter, compared to non-GAAP net income of $5.6 million for the same period last year. Non-GAAP net income includes amounts excluded from GAAP revenue due to the write down of the deferred revenue associated with purchase accounting for the Worldwide Compensation and Vurv acquisitions, and excludes costs associated with our 2009 restatement-related revenue review, acquisition related transaction costs, stock-based compensation expense, amortization of acquired intangibles, and the gain on remeasurement of a previously held interest in Worldwide Compensation. Non-GAAP net income per fully diluted share was $0.16 for the first quarter based on 42.4 million fully diluted weighted average shares outstanding, compared to non-GAAP net income per fully diluted share of $0.18 for the same period last year based on 31.2 million fully diluted weighted average shares outstanding.
For more information on Taleo, please visit www.taleo.com
Matt Lafata, HRchitect
