{"id":1956,"date":"2014-11-11T00:00:00","date_gmt":"2014-11-11T00:00:00","guid":{"rendered":"http:\/\/network.napco.com\/print-and-promo\/article\/innerworkings-announces-third-quarter-2014-results\/"},"modified":"2015-07-30T10:52:19","modified_gmt":"2015-07-30T10:52:19","slug":"innerworkings-announces-third-quarter-2014-results","status":"publish","type":"article","link":"https:\/\/network.napco.com\/print-and-promo\/article\/innerworkings-announces-third-quarter-2014-results\/","title":{"rendered":"InnerWorkings Inc. Announces Third Quarter 2014 Results"},"content":{"rendered":"<p><a href=\"http:\/\/www.inwk.com\">InnerWorkings Inc.<\/a>, Chicago, recently reported results for the three months ended Sept. 30, 2014.<\/p>\n<p>Highlights include:<\/p>\n<ul>\n<li> Revenue of $251.7 million, an increase of 8 percent compared to $232.6 million in the third quarter of 2013.<\/li>\n<\/ul>\n<ul>\n<li> Non-GAAP Adjusted EBITDA of $12.3 million, an increase of 41 percent compared to Non-GAAP Adjusted EBITDA of $8.7 million in the third quarter of 2013.<\/li>\n<\/ul>\n<ul>\n<li> Non-GAAP diluted earnings per share of $0.07, an increase of 40 percent compared to Non-GAAP diluted earnings per share of $0.05 in the third quarter of 2013.<\/li>\n<\/ul>\n<ul>\n<li> Non-GAAP Adjusted Operating Cash Flow of $11.3 million, compared to Non-GAAP Adjusted Operating Cash Flow of $1.6 million in the third quarter of 2013.<\/li>\n<\/ul>\n<p>&#8220;Our consistent growth and solid momentum continued in the third quarter as we landed major new client contracts, underscoring our opportunity within a large and underpenetrated market,&#8221; said Eric D. Belcher, chief executive officer of InnerWorkings. &#8220;We also continued to grow both globally and through new service offerings with our existing clients. We had success in cross-selling our new retail displays and product packaging solutions and we look forward to rolling them out with additional clients.&#8221;<\/p>\n<p>Additional financial and operational highlights include the following:<\/p>\n<ul>\n<li> Organic enterprise account growth was $19 million in the third quarter.<\/li>\n<\/ul>\n<ul>\n<li> Among several new enterprise agreements signed during the quarter, the most significant was with one of the world&#8217;s largest office supply retailers to manage in-store and corporate marketing materials.<\/li>\n<\/ul>\n<ul>\n<li> The North America segment accounted for 66 percent of revenue and international segments accounted for 34 percent, compared to a 70 percent\/30 percent mix in the third quarter of 2013.<\/li>\n<\/ul>\n<p><strong>Outlook<\/strong><\/p>\n<p>The company updated and narrowed its 2014 revenue guidance to $1 billion to $1.01 billion, which reflects 12 to 13 percent growth over 2013. 2014 Non-GAAP diluted earnings per share guidance was also updated to $0.20 to $0.23, compared to $0.09 in 2013.<\/p>\n<p>&#8220;We&#8217;re delivering on our commitment to accelerate our bottom-line results, generating meaningful Adjusted EBITDA growth in each of the first three quarters this year,&#8221; said Joseph M. Busky, chief financial officer of InnerWorkings. &#8220;Our updated outlook reflects foreign exchange impacts from our growing international business, as well as some ramp-up costs related to our large new enterprise partnership.&#8221;<\/p>\n<p>To view the complete report, visit <a href=\"http:\/\/www.inwk.com\" target=\"_blank\">www.inwk.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>InnerWorkings Inc., a leading global marketing execution firm based in Chicago, recently reported results for the three months ended Sept. 30, 2014.<\/p>\n","protected":false},"author":123,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","coauthors":[29487],"class_list":["post-1956","article","type-article","status-publish","hentry","tag-chief-executive-officer","tag-corporate-marketing-materials","tag-enterprise","tag-global-marketing-execution","tag-marketing","tag-quarter","company-inner-workings","person-eric-d-belcher","location-chicago"],"_links":{"self":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/article\/1956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/article"}],"about":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/types\/article"}],"author":[{"embeddable":true,"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/users\/123"}],"replies":[{"embeddable":true,"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/comments?post=1956"}],"wp:attachment":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/media?parent=1956"}],"wp:term":[{"taxonomy":"author","embeddable":true,"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/coauthors?post=1956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}