February 7, 2013
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of ServiceSource (NASDAQ: SREV ) got crushed today, down by as much as 15%, after the company reported fourth-quarter earnings.
So what: Revenue in the fourth quarter was $67.3 million, resulting in non-GAAP earnings per share of $0.05. Both figures came in better than expected, as the consensus forecasts were looking for $$62.9 million in sales and adjusted earnings per share of just $0.01.
Now what: CEO Mike Smerklo said that recurring revenue sources continue to grow as a percentage of total sales. The company also announced a new CFO, Ashley Fieglein Johnson, effective once it files its form 10-K with the SEC. The outgoing CFO David Oppenheimer had previously announced that he was leaving the company in December.
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