Salary.com(TM) Reports Record Financial Results for Third Quarter 2008
WALTHAM, Mass., Jan 31, 2008 (BUSINESS WIRE) — SLRY | news | PowerRating | PR Charts — Salary.com, Inc. (NASDAQ: SLRY), a leading provider of on-demand compensation and talent management solutions, today announced financial results for its third quarter of fiscal 2008, which ended December 31, 2007. Third quarter revenue was $9.2 million, an increase of 52% from the third quarter of fiscal 2007 and 8% sequentially.
Cash flow from operations was $2.3 million for the third quarter of fiscal 2008, compared to $1.4 million in the third quarter of fiscal 2007 and $1.5 million in the prior quarter. Year-to-date operating cash flow was $5.4 million, compared to $2.0 million in the same period in the prior year, an increase of over 170%. Total deferred revenue was $20.9 million at the end of the quarter, an increase of 36% year-over-year and 14% sequentially.
Kent Plunkett, founder and chief executive officer stated, “Q3 was a solid quarter, highlighted by record revenue, expansion of our customer base, and continued strong cash flow generation. In the third quarter we expanded our product offerings with enriched data sets for our compensation management solutions and we added key competencies to our talent management solution, which gained additional traction in the quarter.”