Press release from the issuing company
Announces 18% revenue growth and reaffirms annual guidance
CHICAGO - InnerWorkings, Inc., a leading global marketing supply chain company, today reported results for the three months ended March 31, 2014.
Highlights
"We executed against our plan in the first quarter and generated 12 percent organic enterprise revenue growth," said Eric D. Belcher, Chief Executive Officer of InnerWorkings. "With a heightened focus on our core enterprise business and a growing contribution from our international segments, we expect to increase our operating leverage and improve our profitability as the year progresses."
Additional financial and operational highlights include the following:
"Our new enterprise accounts are ramping up well," said Joseph M. Busky, Chief Financial Officer of InnerWorkings. "Along with the progress we have made to restore our Productions Graphics business, we remain well positioned to hit our revenue and profit targets for the year."
Revenue Growth - Comparing 2014 to 2013 | |||||
Q1 $(MM) Change |
Q1 % Change |
||||
Organic Enterprise Account Growth | $24 | 12 | % | ||
Loss of Spend from Large Customer 1 | ($9 | ) | (4 | )% | |
Acquisitive Growth | $23 | 11 | % | ||
Total Revenue Growth | $37 | 18 | % |
1 Includes loss of spending from large retail customer announced in April 2013. |
Outlook
The Company reaffirms its 2014 revenue guidance of $965 million to $1 billion, which reflects 8 to 12 percent growth over 2013. The Company also reaffirms its 2014 Non-GAAP diluted earnings per share guidance of $0.23 to $0.27, compared to $0.09 in 2013.
© 2024 WhatTheyThink. All Rights Reserved.
Discussion
Join the discussion Sign In or Become a Member, doing so is simple and free