Taleo Announces Record Quarterly Revenues of $71.5 Million, up 30% Year-Over-Year; Subscription Revenue Growth of 23% to $58.4 Million…from Taleo


Record Quarterly Non-GAAP Revenue of $74.3 million, up 35% Year-Over-Year; Non-GAAP Subscription Revenue of $60.1 Million, up 26% Year-Over-Year; Current Deferred Revenue Rose to a Record $105.0 million, up 34% Year-Over-Year; Added Over 240 New Customers With 8 Transactions of $250,000 or Greater

HRchitect featured Taleo in our 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. HRchitect attended the 2010 TaleoWorld conference and HRchitect’s Matt Lafata, one of the industry’s leading talent management systems analysts, attended Taleo’s annual Sales and Services meeting in 2010 & 2011.

If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has 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 always available to help!

Taleo Corporation (NASDAQ: TLEO), the leading provider of on-demand Talent Management solutions, today announced record-setting results for its fiscal first quarter 2011.

“Our results consistently demonstrate what our customers already know — we’re redefining the talent management market and how businesses leverage their largest asset, their people,” said Michael Gregoire, Taleo’s Chairman and CEO. “Our momentum is based on a keen understanding of our customers — from the small, emerging business to the global corporation. We’re innovating, executing and, where necessary, acquiring to make sure we have the broadest, most comprehensive platform in the market. Our undisputed leadership in talent management and the rapid growth of our customer base are testaments to the success of our strategy.”

Taleo delivered the following results for the first quarter 2011:

First Quarter Revenue: Total revenue for the first quarter was $71.5 million, an increase of 30% on a year-over-year basis. Subscription revenue for the first quarter was $58.4 million, an increase of 23% on a year-over-year basis. Professional services revenue for the first quarter was $13.1 million, an increase of 75% on a year-over-year basis.

Total first quarter non-GAAP revenue was $74.3 million, an increase of 35% on a year-over-year basis. Non-GAAP subscription revenue for the first quarter was $60.1 million, an increase of 26% on a year-over-year basis. Non-GAAP professional services revenues for the first quarter was $14.2 million, an increase of 90% on a year-over-year basis.

First Quarter Earnings / (Loss) per Share: First quarter net loss per share was $(0.05), compared to net income per fully diluted share of $0.02 a year ago.

Non-GAAP net income per fully diluted share was $0.23, compared to non-GAAP net income per fully diluted share of $0.16 a year ago.

An explanation of the non-GAAP measures used in this press release is included in the section below titled “Non-GAAP Financial Measures” and a reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables included as part of this press release.

Customers: In the first quarter, over 240 new businesses chose Taleo’s Talent Management solutions for recruiting, performance, learning and/or compensation management, including: Caterpillar, Inc., Phillips International, IDEX Laboratories, Fairmont Raffles Hotels, Motorola Mobility and Bentley Systems, Inc. A first quarter record 8 new contracts were of $250,000 or larger in first year subscription revenue, underscoring the market interest in larger, global deployments and in multiple component suite solutions.

Cash: Cash generated from operations for the first quarter was $15.6 million, up 36% year-over year. Total cash and cash equivalents finished the quarter at $145.8 million, a decrease of $90.9 million from the prior year, which includes approximately $135.5 million in net outflow from the company’s acquisitions of Learn.com and Cytiva.

For more information on Taleo, please visit www.taleo.com
Matt Lafata, HRchitect


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