{"id":2736,"date":"2012-08-14T00:00:00","date_gmt":"2012-08-14T00:00:00","guid":{"rendered":"http:\/\/network.napco.com\/print-and-promo\/article\/innerworkings-announces-record-second-quarter-2012-results\/"},"modified":"2015-07-30T10:55:05","modified_gmt":"2015-07-30T10:55:05","slug":"innerworkings-announces-record-second-quarter-2012-results","status":"publish","type":"article","link":"https:\/\/network.napco.com\/print-and-promo\/article\/innerworkings-announces-record-second-quarter-2012-results\/","title":{"rendered":"InnerWorkings Announces Record Second Quarter 2012 Results"},"content":{"rendered":"<p>Chicago-based <strong><a href=\"http:\/\/www.inwk.com\" target=\"_blank\">InnerWorkings, Inc.,<\/a><\/strong> a leading global marketing supply chain company, reported results for the three months ended June 30, 2012.<\/p>\n<p><strong>Quarterly Highlights: <\/strong><\/p>\n<ul>\n<li>Record revenue of $201.4 million, an increase of 29 percent compared to $155.6 million in the second quarter of 2011. Organic revenue growth in the quarter was 19 percent.<\/li>\n<li>Non-GAAP Adjusted EBITDA was $11.9 million, an increase of 22 percent compared to $9.7 million in the year-earlier period.<\/li>\n<li>Net income was $4.5 million, an increase of 21 percent compared to $3.7 million in the year-earlier period. Excluding proceeds from the sale of Echo Global Logistics stock in both periods, earnings per diluted share in the second quarter of 2012 were $0.09 compared to $0.06 per diluted share in the second quarter of 2011.<\/li>\n<li>Year-over-year enterprise revenue growth of 30 percent and middle market revenue growth of 27 percent. Organic revenue from new enterprise accounts was a record $25.4 million in the second quarter.<\/li>\n<\/ul>\n<p>&#8220;We achieved record revenue results for the seventh consecutive quarter, driven by the ramp from recent large enterprise wins and our success at expanding client relationships to new geographies,&#8221; said Eric D. Belcher, chief executive officer of InnerWorkings. &#8220;Further, we added talented new leaders in Brazil and EMEA and we continued to rapidly build out our Inside Sales division to accelerate the strong growth opportunities in front of us.&#8221;<\/p>\n<p>Additional second quarter 2012 financial and operational highlights include the following:<\/p>\n<ul>\n<li>75 percent of the company&#8217;s revenue was generated from sales to enterprise clients, with the remaining 25 percent derived from sales to middle market clients.<\/li>\n<li>As of June 30, 2012, the company had an outstanding balance of $73.0 million on its $150 million bank credit facility and retained cash and short-term investments of $12.8 million.<\/li>\n<\/ul>\n<p>&#8220;The company&#8217;s financial position is strong and continues to be supported by robust organic revenue growth,&#8221; said Joseph M. Busky, chief financial officer of InnerWorkings. &#8220;Despite the investments we are making to broaden the company&#8217;s platform and support large new clients, both domestically and internationally, we remain well positioned to generate additional leverage as the year progresses.&#8221;<\/p>\n<p><strong>Outlook:<\/strong><br \/>The company is maintaining its previously stated 2012 guidance of $780 million to $810 million in revenue and $0.42 to $0.45 in earnings per share.<\/p>\n<p>For more information, visit <a href=\"http:\/\/www.inwk.com\" target=\"_blank\">www.inwk.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chicago-based <strong><a href=\"http:\/\/www.inwk.com\" target=\"_blank\">InnerWorkings, Inc.,<\/a><\/strong> a leading global marketing supply chain company, reported results for the three months ended June 30, 2012.<\/p>\n","protected":false},"author":123,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","coauthors":[29487],"class_list":["post-2736","article","type-article","status-publish","hentry","category-printer-news","tag-company","tag-global-marketing-supply","tag-leading-global-marketing","tag-marketing-supply-chain","tag-quarter","tag-revenue","tag-revenue-growth","tag-second-quarter-2012-results","tag-supply-chain-company","company-inner-workings","person-eric-d-belcher","location-chicago"],"_links":{"self":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/article\/2736","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=2736"}],"wp:attachment":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/media?parent=2736"}],"wp:term":[{"taxonomy":"author","embeddable":true,"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/coauthors?post=2736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}