Convio Posts Record Annual Revenue, Positive Cash Flow and Profitability
Convio clients include nonprofit organizations, Institutions of Higher Education, Associations and Faith-based organizations around the world such as American Red Cross, American Diabetes Association, American Society for the Prevention of Cruelty to Animals, Humane Society of the United States, Easter Seals, National Multiple Sclerosis Society, Susan G. Komen for the Cure®, Sierra Club, and National Public Radio. For more information, please visit www.convio.com
Non-GAAP Financial Measures
Convio has provided in this release financial information that has not been prepared in accordance with generally accepted accounting principles (“GAAP”). This information includes non-GAAP income from operations. Convio uses this non-GAAP financial measure internally in analyzing its financial results and believes it is useful to readers of this release, as a supplement to GAAP measures, in evaluating Convio’s ongoing operational performance. Convio believes that the use of this non-GAAP financial measure provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in Convio’s industry, many of which present similar non-GAAP financial measures. As noted, the non-GAAP financial results discussed above exclude stock-based compensation expense, the write off of deferred stock offering costs and costs associated with amortization of intangibles arising from the acquisition of GetActive Software, Inc.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Readers of this release are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measure below.