Five9 Loss Narrower To Street, Guides Q2,FY14; Stock Up 5%

(RTTNews) - Five9 Inc (FIVN), a provider of cloud software for contact centers, Tuesday reported first-quarter net loss of $8.3 million or $1.48 per share compared with a loss of $6.6 million or $1.88 per share last year.

Loss-per-share results for the recent quarter reflects a higher share count.

Excluding items, adjusted loss for the quarter was $1.55 per share compared with a loss of $1.87 per share a year ago.

Analysts polled by Thomson Reuters estimated a loss of $1.59 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were up 27% at $24.3 million compared with $19.1 million in the prior year.

Looking ahead to the second quarter, the company expects net loss of $12.6 million to $11.6 million, adjusted loss of $10.8 million to $9.8 million and revenues of $24.4 million to $25.2 million. Analysts expect revenues of $24.84 million.

For fiscal 2014, the company projects net loss of $43.9 million to $41.7 million, adjusted loss of $38.8 million to $36.8 million and revenues of $102 million to $106 million. Analysts expect revenues of $102.54 million.

Five9 began trading on the Nasdaq on April 4 after completing an initial public offering for net proceeds of about $72.7 million.