Rainmaker Systems, Inc. Announces Recent Bookings Successes
CAMPBELL, CA -- (Marketwired) -- 07/10/13 -- Rainmaker Systems, Inc. (OTCQB: RMKR), a Silicon Valley-based technology company in the Cloud-Based B2B e-commerce market, today announced that it closed in excess of $8 million in bookings for its second fiscal quarter, ending June 30, 2013. Revenue associated with these contracts will be recognized in accordance with the contractual terms of the agreements.
"The level of new business closed over the last several months validates the effectiveness of our renewed focus and investments in Sales, Marketing and Development," said Donald J. Massaro, president and CEO. "In addition, we have spent the last six months developing and implementing processes and procedures that help ensure these and future bookings are of the highest quality, consistent with our strategy, and that they yield acceptable margins for the business," said Massaro.
The new bookings were spread across all products offerings. "These recent deals underscore the strength of our existing relationships with strategic customers, as well as confirm the demand for the compelling value proposition we bring to new and existing customers," Massaro said. "I believe revenue is a result, not an objective. The quarter's incremental new bookings and our sales pipeline are building toward that result. We are encouraged by our progress."
Rainmaker Systems, Inc. (RMKR) is a B2B e-Commerce company that helps organizations of all sizes, ranging from Fortune 500 enterprises to small-to-medium-sized businesses, create new revenue streams from segments of their customer base that extends beyond traditional sales team capabilities. With its unique approach, Rainmaker delivers proprietary cloud-based e-commerce technology, global and localized sales-assist agents, and best-practice sales and marketing expertise, allowing customers to discover and monetize untapped revenue opportunities.
Safe Harbor Statement
This press release may contain forward-looking statements regarding future events. These forward-looking statements are based on information available to Rainmaker as of this date and the Company assumes no obligation to update any such forward-looking statements. These statements are not guarantees of future performance, and actual results could differ materially from current expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are client concentration, as the company depends on a small number of clients for a significant percentage of its revenue; the possibility of the discontinuation and/or realignment of some client relationships; general market conditions, the current difficult macro-economic environment and its impact on Rainmaker's business, as clients are reducing their overall marketing spending and their customers are reducing their purchase of service contracts; market acceptance of our service programs and pricing options; the financial condition of our clients' businesses and other factors detailed the company's filings with the Securities and Exchange Commission (SEC), including our filings on forms 10-K and 10-Q.
Deborah A. Stapleton
Rainmaker Systems, Inc.
Chief Financial Officer
Rainmaker Systems, Inc.