Model N Provides Business Update and Preliminary Fiscal 2014 Guidance
Industry stakeholders convene in Chicago to discuss and plan for 2014 MDRP best practices, challenges, and opportunities.
REDWOOD CITY, CA – September 9, 2013 – Model N, Inc. (NYSE: MODN), a leading revenue management solutions provider to the life science and technology industries, today provided a business update and preliminary guidance for the first quarter and full year fiscal 2014.
“Our current revenue visibility has caused us to reduce our financial expectations for fiscal 2014,” said Zack Rinat, Model N’s Founder, Chairman, and Chief Executive Officer. “We remain focused on recruiting a new sales leader to resolve the sales execution challenges we discussed on last quarter’s earnings conference call. We continue to believe that our market leading products, large market opportunity, proven value proposition, and strong pipeline of opportunities position the company well for the long-term.”
As of September 9, 2013, Model N is providing the following guidance:
- For the first quarter of fiscal 2014 ending December 31, 2013, the Company expects:
– Total revenue to be in the range of $20.0 million to $21.0 million
- For the full fiscal year ending September 30, 2014, the Company expects:- Total revenue to be in the range of $70.0 million to $80.0 million
Business Update Conference Call:
Model N will host a conference call today at 2:00 PM Pacific Time (5:00 PM Eastern Time) to review this preliminary guidance for both the first fiscal quarter and the full fiscal year 2014. To access the call, please dial (877) 705-6003 in the U.S. or (201) 493-6725 internationally. Passcode is 10000248. A live webcast of the conference will be accessible from Model N’s website at: http://investor.modeln.com. Following the completion of the call through 11:59 p.m. ET on September 16, 2013, a recording will be available for replay at:http://investor.modeln.com and a telephone replay will be available by dialing (877) 870-5176 in the U.S. or (858) 384-5517 internationally with recording access code 10000248.
About Model N
Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.
Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.