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FORM 8-K
Omniture, inc. - OMTR
Filed: October 15, 2009 (period: October 15, 2009)
Report of unscheduled material events or corporate changes.
Table of Contents
8-K - 8-K

Item 2.02.   Results of Operations and Financial Condition.

Item 9.01.   Financial Statements and Exhibits.

SIGNATURES
INDEX TO EXHIBITS
EX-99.1 (EX-99.1)
UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                                                           WASHINGTON, D.C. 20549


                                                               FORM 8-K
                                    CURRENT REPORT
         PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
                                                                October 15, 2009
                                                   Date of Report (date of earliest event reported)


                                                        OMNITURE, INC.
                                                (Exact name of Registrant as specified in its charter)


                 Delaware                                         000-52076                                     87-0619936
       (State or other jurisdiction of                      (Commission File Number)                         (I.R.S. Employer
               incorporation)                                                                             Identification Number)

                                                        550 East Timpanogos Circle
                                                              Orem, UT 84097
                                          (Address of principal executive offices, including zip code)

                                                                   (801) 722-7000
                                                (Registrant’s telephone number, including area code)

                                                              Not Applicable
                                         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant
under any of the following provisions:

� Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

� Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

� Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

� Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Source: Omniture, inc., 8-K, October 15, 2009
Item 2.02. Results of Operations and Financial Condition.

On October 15, 2009, Omniture issued a press release relating to its results for the quarter ended September 30, 2009. A copy of the
press release is furnished as Exhibit 99.1 to this Form 8-K.

Omniture is making reference to non-GAAP financial information in the press release. A reconciliation of these non-GAAP financial
measures to the comparable GAAP financial measures is contained in the attached press release.

This information furnished under “Item 2.02. Results of Operations and Financial Condition,” including the Exhibit 99.1 related
thereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be
deemed incorporated by reference in any disclosure document of Omniture, except as shall be expressly set forth by specific reference
in such document.

Item 9.01. Financial Statements and Exhibits.

    (d) Exhibits.


Exhibit No.                                                             Description
99.1*          Text of press release of Omniture, Inc., issued on October 15, 2009.


*Furnished herewith.

                                                                    2




Source: Omniture, inc., 8-K, October 15, 2009
SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.



                                                                  OMNITURE, INC.


                                                                  By:     /s/ Michael S. Herring
                                                                          Michael S. Herring
Dated: October 15, 2009                                                   Chief Financial Officer and Executive Vice President

                                                                   3




Source: Omniture, inc., 8-K, October 15, 2009
INDEX TO EXHIBITS


Exhibit No.                                                            Description
99.1*          Text of press release of Omniture, Inc., issued on October 15, 2009.


*Furnished herewith.

                                                                   4




Source: Omniture, inc., 8-K, October 15, 2009
Exhibit 99.1

Media Relations:
Kristi Knight
801-722-7000
kknight@omniture.com

Investor Relations:
Mike Look
650-450-1008
mlook@omniture.com

                                         Omniture Reports Third Quarter 2009 Financial Results

OREM, UT, October 15, 2009 — Omniture, Inc. (NASDAQ:OMTR), a leading provider of online business optimization software,
today announced results for its third quarter ending September 30, 2009. In the third quarter of 2009, Omniture achieved revenue of
$87.9 million, an increase of 13% compared to revenue of $77.8 million reported for the same period a year ago. Non-GAAP revenue
for the quarter was $88.0 million. The difference between GAAP and non-GAAP revenue reflects the revenue excluded from the
GAAP results due to purchase accounting adjustments, which reduces deferred revenue to its fair value.

Omniture’s GAAP net loss was $8.5 million or $0.11 per diluted share in the third quarter of 2009, as compared to a net loss of $17.3
million or $0.24 per diluted share in the third quarter of 2008. GAAP net loss for the third quarter of 2009 includes approximately $5.3
million in acquisition-related expenses associated with Omniture’s agreement to be acquired by Adobe Systems Incorporated.
Non-GAAP net income was $12.3 million or $0.15 per diluted share for the third quarter 2009, compared to non-GAAP net income of
$8.2 million or $0.11 per diluted share in the third quarter of 2008. Non-GAAP net income excludes the effect of acquisition-related
adjustments to deferred revenue, stock-based compensation, amortization of certain intangible assets, imputed interest related to patent
license agreements and certain acquisition-related expenses and non-cash tax adjustments.

Third quarter fiscal 2009 adjusted EBITDA was $20.4 million. Adjusted EBITDA is defined as loss from operations on a GAAP
basis less depreciation and amortization, stock-based compensation, acquisition-related costs related to the agreement by Omniture to
be acquired by Adobe Systems Incorporated and acquisition-related adjustments to deferred revenue. Omniture ended the quarter with
total cash and investments of $145.3 million and generated cash flow from operations for the third quarter of fiscal 2009 of $19.1
million.

During the third quarter of 2009, Omniture captured data from nearly 1.1 trillion transactions and added more than 150 new
customers. New customer relationships secured and announced in the third quarter include: Ashley Homestores LTD., AO Ventures
dba Bigleads.com, Beyond.com, British Heart Foundation, ING Life Insurance Korea, Ltd., Mail.com Media Corporation, MSG
Varsity Network LLC, Tesco Stores Limited, USO, and Zagg, Inc.

Omniture will not be hosting a conference call in conjunction with these results. For more information or to access the financial
results, please visit www.OMTR.com.




Source: Omniture, inc., 8-K, October 15, 2009
About Non-GAAP Financial Measures

In this release we use certain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a
company’s performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or
included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting
principles in the United States of America, or GAAP. A reconciliation between non-GAAP and GAAP measures can be found in the
accompanying tables and on the “Investor Relations” section of our corporate Web site at www.omtr.com. Non-GAAP financial
measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with
GAAP. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with
the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other
companies.

We believe that, while these non-GAAP measures are not a substitute for GAAP results, they provide a basis for evaluating the
company’s operating results because they are helpful in understanding our past financial performance and our future results and
facilitate comparisons of results between periods. We believe the calculation of non-GAAP revenue, which reflects the revenue
excluded from the GAAP results due to purchase accounting adjustments to reduce deferred revenue to its fair value, provides a
meaningful comparison to our historic GAAP revenue. We also believe the calculation of net income and loss, calculated without
acquisition-related accounting adjustments to deferred revenue, stock-based compensation expense, the amortization of certain
intangible assets, imputed interest expense and certain acquisition-related expenses and tax benefits, provides a meaningful
comparison to our net loss figures. We also believe that adjusted EBITDA, which we calculate as loss from operations on a GAAP
basis less depreciation and amortization, stock-based compensation, acquisition-related costs related to the agreement by Omniture to
be acquired by Adobe Systems Incorporated and acquisition-related adjustments to deferred revenue, is an indicator of the company’s
financial results and cash flows and is useful to investors in evaluating operating performance. Our management regularly uses these
non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These
non-GAAP measures have been reconciled to the nearest GAAP measure as required under the rules and regulations promulgated by
the U.S. Securities and Exchange Commission.

About Omniture

Omniture, Inc. is a leading provider of online business optimization software, enabling customers to manage and enhance online,
offline and multi-channel business initiatives. Omniture’s software, which it hosts and delivers to its customers as an on-demand
subscription service and on-premise solution, enables customers to capture, store and analyze information generated by their Web sites
and other sources and to gain critical business insights into the performance and efficiency of marketing and sales initiatives and other
business processes. In addition, Omniture offers a range of professional services that complement its online services, including
implementation, best practices, consulting, customer support and user training through Omniture Education. www.omniture.com

Copyright (c) 2009 Omniture, Inc. All rights reserved. Omniture is a registered trademark of Omniture, Inc. in the United States,
Japan, Canada and the European Community. Omniture, Inc. owns other registered and unregistered trademarks throughout the world.
Other names used herein may be trademarks of their respective owners.




Source: Omniture, inc., 8-K, October 15, 2009
Omniture, Inc.
                                            Condensed Consolidated Statements of Operations
                                                  (in thousands, except per share data)
                                                              (unaudited)


                                                                Three Months Ended               Three Months Ended
                                                                   September 30,                    September 30,             % Increase
                                                                               % of                             % of
                                                               2008          Revenues           2009          Revenues        (Decrease)
Revenues:
  Subscription, license and maintenance                    $    69,554              89% $        77,558              88%              12%
  Professional services and other                                8,227              11           10,294              12               25
    Total revenues                                              77,781             100           87,852             100               13

Cost of revenues (1):
   Subscription, license and maintenance                        28,860              37           33,074              38               15
   Professional services and other                               4,056               5            4,159               5                3
     Total cost of revenues                                     32,916              42           37,233              43               13
Gross profit                                                    44,865              58           50,619              57               13
Operating expenses:
   Sales and marketing (1)                                      32,705               42          31,953              36               (2)
   Research and development (1)                                  9,190               12           8,884              10               (3)
   General and administrative (1)                               11,364               15          12,057              14                6
   Acquisition related (2)                                          —                —            5,273               6             N/A
     Total operating expenses                                   53,259               69          58,167              66                9
Loss from operations                                            (8,394)             (11)         (7,548)             (9)             (10)
Interest income                                                    368                1             127              —               (65)
Interest expense                                                  (261)              —             (299)             —                15
Other (expense), net                                              (585)              (1)           (425)             (1)             (27)
Loss before income taxes                                        (8,872)             (11)         (8,145)            (10)              (8)
Provision for income taxes                                       8,408               11             374              —               (96)
Net loss                                                   $   (17,280)             (22)% $      (8,519)            (10)%            (51)%

Net loss per share:
  Net loss per share, basic and diluted                    $      (0.24)                    $     (0.11)                             (54)%
  Weighted-average number of shares, basic and
     diluted                                                    72,202                           77,012                                    7%

Adjusted EBITDA (3)                                        $    16,247              21% $        20,448              23%              26%



(1)         Amounts include stock-based compensation expenses, as follows:
            Cost of subscription, license and
              maintenance revenues                    $        865                      1% $        761                  1%
            Cost of professional services and other
              revenues                                         243                      0           216                  0
            Sales and marketing                             2,909                       4         3,312                  4
            Research and development                        1,512                       2         1,277                  1
            General and administrative                      2,272                       3         1,725                  2
              Total stock-based compensation
                 expenses                             $     7,801                   10% $         7,291                  8%


(2)    Acquisition-related costs consist of direct transaction costs related to the agreement by Omniture, Inc., to be acquired by Adobe
           Systems Incorporated

(3)    Adjusted EBITDA is equal to the loss from operations less depreciation and amortization, stock-based compensation,
           acquisition-related costs and the acquisition-related adjustment to deferred revenue




Source: Omniture, inc., 8-K, October 15, 2009
Omniture, Inc.
                                            Condensed Consolidated Statements of Operations
                                                  (in thousands, except per share data)
                                                              (unaudited)


                                                                Nine Months Ended                Nine Months Ended
                                                                   September 30,                    September 30,             % Increase
                                                                               % of                             % of
                                                               2008          Revenues           2009          Revenues        (Decrease)
Revenues:
  Subscription, license and maintenance                    $   191,324              90% $       231,898              88%              21%
  Professional services and other                               21,290              10           30,683              12               44
    Total revenues                                             212,614             100          262,581             100               24

Cost of revenues (1):
   Subscription, license and maintenance                        79,724              38           96,990              37               22
   Professional services and other                              10,817               5           12,723               5               18
     Total cost of revenues                                     90,541              43          109,713              42               21
Gross profit                                                   122,073              57          152,868              58               25
Operating expenses:
   Sales and marketing (1)                                      96,091              45          102,868              39                7
   Research and development (1)                                 27,840              13           27,010              10               (3)
   General and administrative (1)                               33,993              16           35,464              14                4
   Acquisition related (2)                                          —               —             5,273               2             N/A
     Total operating expenses                                  157,924              74          170,615              65                8
Loss from operations                                           (35,851)            (17)         (17,747)             (7)             (50)
Interest income                                                  1,659               1              319              —               (81)
Interest expense                                                  (718)             (1)            (979)             —                36
Other (expense), net                                              (541)             —            (1,678)             (1)            210
Loss before income taxes                                       (35,451)            (17)         (20,085)             (8)             (43)
Provision for income taxes                                       1,232              —             1,495              —                21
Net loss                                                   $   (36,683)            (17)% $      (21,580)             (8)%            (41)%

Net loss per share:
  Net loss per share, basic and diluted                    $     (0.52)                     $     (0.28)                             (46)%
  Weighted-average number of shares, basic and
     diluted                                                    71,034                           76,116                                    7%

Adjusted EBITDA (3)                                        $    42,145              20% $        55,733              21%              32%



(1)         Amounts include stock-based compensation expenses, as follows:
            Cost of subscription, license and
              maintenance revenues                    $     3,357                       2% $      2,290                  1%
            Cost of professional services and other
              revenues                                         734                      0           628                  0
            Sales and marketing                             9,186                       4         9,365                  4
            Research and development                        5,352                       3         3,762                  1
            General and administrative                      6,474                       3         5,705                  2
              Total stock-based compensation
                 expenses                             $    25,103                   12% $        21,750                  8%


(2) Acquisition-related costs consist of direct transaction costs related to the agreement by Omniture, Inc., to be acquired by Adobe
        Systems Incorporated

(3) Adjusted EBITDA is equal to the loss from operations less depreciation and amortization, stock-based compensation,
        acquisition-related costs and the acquisition-related adjustment to deferred revenue




Source: Omniture, inc., 8-K, October 15, 2009
Omniture, Inc.
                                                Reconciliation of Non-GAAP Measures
                                                 (in thousands, except per share data)
                                                              (unaudited)


                                                                                 Three Months Ended             Nine Months Ended
                                                                                    September 30,                 September 30,
                                                                                 2008           2009           2008           2009

Reconciliation of Total Revenues on a GAAP Basis to Total Revenues
  on a Non-GAAP Basis:
Total revenues on a GAAP basis                                               $    77,781   $      87,852   $   212,614   $     262,581
  Acquisition-related adjustment to Touch Clarity deferred revenue (1)                —               —            378              —
  Acquisition-related adjustment to Offermatica deferred revenue (1)                  80              —            617               2
  Acquisition-related adjustment to Visual Sciences deferred revenue (1)           1,820              —         10,558              —
  Acquisition-related adjustment to Mercado deferred revenue (1)                      —              171            —            1,130
Total revenues on a non-GAAP basis                                           $    79,681   $      88,023   $   224,167   $     263,713

Reconciliation of Net Loss on a GAAP Basis to Net Income on a
  Non-GAAP Basis:
Net loss on a GAAP basis                                                     $   (17,280) $       (8,519) $    (36,683) $      (21,580)
  Acquisition-related adjustment to deferred revenue (1)                           1,900             171        11,553           1,132
  Amortization of intangible assets (2)                                            7,851           8,043        22,657          23,931
  Stock-based compensation                                                         7,801           7,291        25,103          21,750
  Imputed interest on patent license obligation (3)                                   56              33           181             122
  Acquisition related (4)                                                             —            5,273            —            5,273
  Non-cash tax benefit resulting from the reduction in acquisition-related
     deferred tax liabilities (5)                                                  7,904              —             —               —
Net income on a non-GAAP basis                                               $     8,232   $      12,292   $    22,811   $      30,628

Reconciliation of Diluted Net Loss per Share on a GAAP Basis to
  Diluted Net Income per Share on a Non-GAAP Basis:
Diluted net loss per share on a GAAP basis                                   $     (0.24) $        (0.11) $      (0.52) $        (0.28)
  Acquisition-related adjustment to deferred revenue (1)                            0.03              —           0.17            0.01
  Amortization of intangible assets (2)                                             0.11            0.10          0.32            0.31
  Stock-based compensation                                                          0.11            0.10          0.35            0.29
  Imputed interest on patent license obligation (3)                                   —               —             —               —
  Acquisition related (4)                                                             —             0.07            —             0.07
  Non-cash tax benefit resulting from the reduction in acquisition-related
     deferred tax liabilities (5)                                                   0.11              —             —               —
  Impact of difference in number of GAAP and non-GAAP diluted shares               (0.01)          (0.01)        (0.02)          (0.01)
Diluted net income per share on a non-GAAP basis                             $      0.11 $          0.15 $        0.30 $          0.39

Reconciliation of Net Loss on a GAAP Basis to Adjusted EBITDA:
Net loss on a GAAP basis                                                     $   (17,280) $       (8,519) $    (36,683) $      (21,580)
  Other (income) expense, net                                                        478             597          (400)          2,338
  Provision for income taxes                                                       8,408             374         1,232           1,495
Loss from operations on a GAAP basis                                              (8,394)         (7,548)      (35,851)        (17,747)
  Depreciation and amortization                                                   14,940          15,261        41,340          45,325
  Stock-based compensation                                                         7,801           7,291        25,103          21,750
  Acquisition related (4)                                                             —            5,273            —            5,273
  Acquisition-related adjustment to deferred revenue (1)                           1,900             171        11,553           1,132
Adjusted EBITDA                                                              $    16,247 $        20,448 $      42,145 $        55,733


(1) This item is recorded in subscription, license and maintenance revenue in the Condensed Consolidated Statements of Operations

(2) Amortization of intangible assets is allocated as follows in the Condensed Consolidated Statement of Operations:


                                                                             Three Months Ended            Nine Months Ended
                                                                                September 30,                September 30,


Source: Omniture, inc., 8-K, October 15, 2009
2008           2009          2008          2009
Cost of subscription, license and maintenance revenues                     $     4,778    $     5,022   $    13,830   $    14,970
Sales and marketing                                                              2,985          3,021         8,562         8,934
General and administrative                                                          88             —            265            27
  Total amortization of intangible assets                                  $     7,851    $     8,043   $    22,657   $    23,931


(3) This item is recorded in interest expense in the Condensed Consolidated Statements of Operations

(4) Acquisition-related costs consist of direct transaction costs related to the agreement by Omniture, Inc., to be acquired by Adobe
        Systems Incorporated

(5) This item is recorded in (benefit from) provision for income taxes in the Condensed Consolidated Statements of Operations




Source: Omniture, inc., 8-K, October 15, 2009
Omniture, Inc.
                                                              Additional Metrics
                                                                (unaudited)


                        March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31, March 31, June 30, September 30,
                         2007      2007        2007          2007      2008      2008        2008          2008      2009      2009        2009
Full-time employee
  headcount                   465     531            578         713       985 1,045           1,087        1,189      1,204 1,208           1,194
Quarterly number of
  transactions
  captured (in
  billions)                 496.0 520.0            561.3       619.3     851.5 886.6           938.8        993.5 1,045.1 1,052.9          1,083.0


                                            Three Months Ended            Nine Months Ended
                                               September 30,                 September 30,
                                            2008          2009            2008          2009
Revenues by geography (in
  thousands):
Customers within the United States $            55,567   $   62,927 $ 153,675         $ 188,724
Customers outside the United
  States                                        22,214       24,925    58,939            73,857
  Total revenues                   $            77,781   $   87,852 $ 212,614         $ 262,581

Revenues by geography as a
  percentage of total revenues:
Customers within the United States                 71%           72%            72%            72%
Customers outside the United
  States                                           29           28             28              28
  Total                                           100%         100%           100%            100%




Source: Omniture, inc., 8-K, October 15, 2009
Omniture, Inc.
                                            Condensed Consolidated Statements of Cash Flows
                                                            (in thousands)
                                                              (unaudited)


                                                                            Three Months Ended             Nine Months Ended
                                                                               September 30,                  September 30,
                                                                           2008             2009          2008             2009

Cash flows from operating activities:
Net loss                                                               $    (17,280) $        (8,519) $   (36,683) $       (21,580)
Adjustments to reconcile net loss to net cash provided by operating
  activities:
  Depreciation and amortization                                              14,940           15,261       41,340           45,325
  Stock-based compensation                                                    7,801            7,291       25,103           21,750
  Non-cash tax provision (benefit)                                            7,904               —           (17)              —
  Other non-cash transactions                                                   (56)             (27)        (308)             (59)
  Loss on foreign currency forward contracts, net                               329              885          329            2,672
  Net changes in operating assets and liabilities:
     Accounts receivable, net                                                 2,549           (4,296)     (25,154)         (16,005)
     Prepaid expenses and other assets                                       (1,897)          (1,039)         112             (146)
     Accounts payable                                                        (2,018)           5,007        4,206            3,753
     Accrued and other liabilities                                            4,823            4,671        2,812            3,661
     Deferred revenues                                                       11,810             (101)      48,776            7,790
Net cash provided by operating activities                                    28,905           19,133       60,516           47,161

Cash flows from investing activities:
Purchases of investments                                                     (4,977)        (14,989)      (24,808)         (54,927)
Proceeds from sales of investments                                               —              100        36,970            5,100
Maturities of investments                                                    15,000          10,000        20,000           30,000
Purchases of property and equipment                                         (13,869)         (4,575)      (41,871)         (16,165)
Purchases of intangible assets                                                 (443)           (464)       (3,317)            (922)
Foreign currency forward contracts                                             (329)           (799)         (329)          (2,967)
Business acquisitions, net of cash acquired                                  (1,101)           (234)      (60,822)          (3,823)
Net cash used in investing activities                                        (5,719)        (10,961)      (74,177)         (43,704)

Cash flows from financing activities:
Proceeds from exercise of stock options                                       2,476            1,976        8,557            2,891
Proceeds from employee stock purchase plan                                      205              209          330              405
Proceeds from issuance of common stock, net of issuance costs                    —                —            —            25,000
Repurchases of vested restricted stock                                          (30)            (268)        (993)          (1,371)
Proceeds from issuance of notes payable, net of issuance costs                   —                —         8,006              (51)
Principal payments on notes payable and capital lease obligations            (1,483)            (462)      (7,752)          (1,001)
Net cash provided by financing activities                                     1,168            1,455        8,148           25,873
Effect of exchange rate changes on cash and cash equivalents                   (756)            (177)        (561)              12
Net increase (decrease) in cash and cash equivalents                         23,598            9,450       (6,074)          29,342
Cash and cash equivalents at beginning of period                             48,093           86,912       77,765           67,020
Cash and cash equivalents at end of period                             $     71,691 $         96,362 $     71,691 $         96,362




Source: Omniture, inc., 8-K, October 15, 2009
Omniture, Inc.
                                                  Condensed Consolidated Balance Sheets
                                                             (in thousands)
                                                               (unaudited)


                                                                                              December 31,       September 30,
                                                                                                  2008               2009
Assets:

Current assets:
  Cash and cash equivalents                                                               $           67,020 $           96,362
  Short-term investments                                                                               9,997             34,990
  Accounts receivable, net                                                                           106,810            123,465
  Prepaid expenses and other current assets                                                           10,369             11,795
    Total current assets                                                                             194,196            266,612

Property and equipment, net                                                                           61,482             56,669
Intangible assets, net                                                                               137,505            112,671
Goodwill                                                                                             427,565            426,867
Long-term investments                                                                                 18,136             13,908
Other assets                                                                                           3,316              2,233
     Total assets                                                                         $          842,200 $          878,960

Liabilities and Stockholders’ Equity:

Current liabilities:
  Accounts payable                                                                        $            7,662 $           11,501
  Accrued liabilities                                                                                 41,179             40,411
  Current portion of deferred revenues                                                               101,728            115,216
  Current portion of notes payable                                                                     1,617              1,945
  Current portion of capital lease obligations                                                           150                 21
    Total current liabilities                                                                        152,336            169,094

Deferred revenues, less current portion                                                               10,222               5,241
Notes payable, less current portion                                                                   13,528              12,375
Capital lease obligations, less current portion                                                           79                  44
Other liabilities                                                                                      8,467               7,546

Commitments and contingencies
Stockholders’ equity:
  Preferred stock                                                                                         —                  —
  Common stock                                                                                            73                 77
  Additional paid-in capital                                                                         754,151            802,466
  Deferred stock-based compensation                                                                     (366)               (10)
  Accumulated other comprehensive loss                                                                (3,256)            (3,259)
  Accumulated deficit                                                                                (93,034)          (114,614)
    Total stockholders’ equity                                                                       657,568            684,660
       Total liabilities and stockholders’ equity                                         $          842,200 $          878,960




_______________________________________________
Created by Morningstar Document Research documentresearch.morningstar.com




Source: Omniture, inc., 8-K, October 15, 2009

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Q3 2009 Earning Report of Omniture

  • 1. FORM 8-K Omniture, inc. - OMTR Filed: October 15, 2009 (period: October 15, 2009) Report of unscheduled material events or corporate changes.
  • 2. Table of Contents 8-K - 8-K Item 2.02. Results of Operations and Financial Condition. Item 9.01. Financial Statements and Exhibits. SIGNATURES INDEX TO EXHIBITS EX-99.1 (EX-99.1)
  • 3. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 October 15, 2009 Date of Report (date of earliest event reported) OMNITURE, INC. (Exact name of Registrant as specified in its charter) Delaware 000-52076 87-0619936 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation) Identification Number) 550 East Timpanogos Circle Orem, UT 84097 (Address of principal executive offices, including zip code) (801) 722-7000 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions: � Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) � Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) � Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) � Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Source: Omniture, inc., 8-K, October 15, 2009
  • 4. Item 2.02. Results of Operations and Financial Condition. On October 15, 2009, Omniture issued a press release relating to its results for the quarter ended September 30, 2009. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K. Omniture is making reference to non-GAAP financial information in the press release. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached press release. This information furnished under “Item 2.02. Results of Operations and Financial Condition,” including the Exhibit 99.1 related thereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any disclosure document of Omniture, except as shall be expressly set forth by specific reference in such document. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1* Text of press release of Omniture, Inc., issued on October 15, 2009. *Furnished herewith. 2 Source: Omniture, inc., 8-K, October 15, 2009
  • 5. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. OMNITURE, INC. By: /s/ Michael S. Herring Michael S. Herring Dated: October 15, 2009 Chief Financial Officer and Executive Vice President 3 Source: Omniture, inc., 8-K, October 15, 2009
  • 6. INDEX TO EXHIBITS Exhibit No. Description 99.1* Text of press release of Omniture, Inc., issued on October 15, 2009. *Furnished herewith. 4 Source: Omniture, inc., 8-K, October 15, 2009
  • 7. Exhibit 99.1 Media Relations: Kristi Knight 801-722-7000 kknight@omniture.com Investor Relations: Mike Look 650-450-1008 mlook@omniture.com Omniture Reports Third Quarter 2009 Financial Results OREM, UT, October 15, 2009 — Omniture, Inc. (NASDAQ:OMTR), a leading provider of online business optimization software, today announced results for its third quarter ending September 30, 2009. In the third quarter of 2009, Omniture achieved revenue of $87.9 million, an increase of 13% compared to revenue of $77.8 million reported for the same period a year ago. Non-GAAP revenue for the quarter was $88.0 million. The difference between GAAP and non-GAAP revenue reflects the revenue excluded from the GAAP results due to purchase accounting adjustments, which reduces deferred revenue to its fair value. Omniture’s GAAP net loss was $8.5 million or $0.11 per diluted share in the third quarter of 2009, as compared to a net loss of $17.3 million or $0.24 per diluted share in the third quarter of 2008. GAAP net loss for the third quarter of 2009 includes approximately $5.3 million in acquisition-related expenses associated with Omniture’s agreement to be acquired by Adobe Systems Incorporated. Non-GAAP net income was $12.3 million or $0.15 per diluted share for the third quarter 2009, compared to non-GAAP net income of $8.2 million or $0.11 per diluted share in the third quarter of 2008. Non-GAAP net income excludes the effect of acquisition-related adjustments to deferred revenue, stock-based compensation, amortization of certain intangible assets, imputed interest related to patent license agreements and certain acquisition-related expenses and non-cash tax adjustments. Third quarter fiscal 2009 adjusted EBITDA was $20.4 million. Adjusted EBITDA is defined as loss from operations on a GAAP basis less depreciation and amortization, stock-based compensation, acquisition-related costs related to the agreement by Omniture to be acquired by Adobe Systems Incorporated and acquisition-related adjustments to deferred revenue. Omniture ended the quarter with total cash and investments of $145.3 million and generated cash flow from operations for the third quarter of fiscal 2009 of $19.1 million. During the third quarter of 2009, Omniture captured data from nearly 1.1 trillion transactions and added more than 150 new customers. New customer relationships secured and announced in the third quarter include: Ashley Homestores LTD., AO Ventures dba Bigleads.com, Beyond.com, British Heart Foundation, ING Life Insurance Korea, Ltd., Mail.com Media Corporation, MSG Varsity Network LLC, Tesco Stores Limited, USO, and Zagg, Inc. Omniture will not be hosting a conference call in conjunction with these results. For more information or to access the financial results, please visit www.OMTR.com. Source: Omniture, inc., 8-K, October 15, 2009
  • 8. About Non-GAAP Financial Measures In this release we use certain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States of America, or GAAP. A reconciliation between non-GAAP and GAAP measures can be found in the accompanying tables and on the “Investor Relations” section of our corporate Web site at www.omtr.com. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. We believe that, while these non-GAAP measures are not a substitute for GAAP results, they provide a basis for evaluating the company’s operating results because they are helpful in understanding our past financial performance and our future results and facilitate comparisons of results between periods. We believe the calculation of non-GAAP revenue, which reflects the revenue excluded from the GAAP results due to purchase accounting adjustments to reduce deferred revenue to its fair value, provides a meaningful comparison to our historic GAAP revenue. We also believe the calculation of net income and loss, calculated without acquisition-related accounting adjustments to deferred revenue, stock-based compensation expense, the amortization of certain intangible assets, imputed interest expense and certain acquisition-related expenses and tax benefits, provides a meaningful comparison to our net loss figures. We also believe that adjusted EBITDA, which we calculate as loss from operations on a GAAP basis less depreciation and amortization, stock-based compensation, acquisition-related costs related to the agreement by Omniture to be acquired by Adobe Systems Incorporated and acquisition-related adjustments to deferred revenue, is an indicator of the company’s financial results and cash flows and is useful to investors in evaluating operating performance. Our management regularly uses these non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures have been reconciled to the nearest GAAP measure as required under the rules and regulations promulgated by the U.S. Securities and Exchange Commission. About Omniture Omniture, Inc. is a leading provider of online business optimization software, enabling customers to manage and enhance online, offline and multi-channel business initiatives. Omniture’s software, which it hosts and delivers to its customers as an on-demand subscription service and on-premise solution, enables customers to capture, store and analyze information generated by their Web sites and other sources and to gain critical business insights into the performance and efficiency of marketing and sales initiatives and other business processes. In addition, Omniture offers a range of professional services that complement its online services, including implementation, best practices, consulting, customer support and user training through Omniture Education. www.omniture.com Copyright (c) 2009 Omniture, Inc. All rights reserved. Omniture is a registered trademark of Omniture, Inc. in the United States, Japan, Canada and the European Community. Omniture, Inc. owns other registered and unregistered trademarks throughout the world. Other names used herein may be trademarks of their respective owners. Source: Omniture, inc., 8-K, October 15, 2009
  • 9. Omniture, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Three Months Ended Three Months Ended September 30, September 30, % Increase % of % of 2008 Revenues 2009 Revenues (Decrease) Revenues: Subscription, license and maintenance $ 69,554 89% $ 77,558 88% 12% Professional services and other 8,227 11 10,294 12 25 Total revenues 77,781 100 87,852 100 13 Cost of revenues (1): Subscription, license and maintenance 28,860 37 33,074 38 15 Professional services and other 4,056 5 4,159 5 3 Total cost of revenues 32,916 42 37,233 43 13 Gross profit 44,865 58 50,619 57 13 Operating expenses: Sales and marketing (1) 32,705 42 31,953 36 (2) Research and development (1) 9,190 12 8,884 10 (3) General and administrative (1) 11,364 15 12,057 14 6 Acquisition related (2) — — 5,273 6 N/A Total operating expenses 53,259 69 58,167 66 9 Loss from operations (8,394) (11) (7,548) (9) (10) Interest income 368 1 127 — (65) Interest expense (261) — (299) — 15 Other (expense), net (585) (1) (425) (1) (27) Loss before income taxes (8,872) (11) (8,145) (10) (8) Provision for income taxes 8,408 11 374 — (96) Net loss $ (17,280) (22)% $ (8,519) (10)% (51)% Net loss per share: Net loss per share, basic and diluted $ (0.24) $ (0.11) (54)% Weighted-average number of shares, basic and diluted 72,202 77,012 7% Adjusted EBITDA (3) $ 16,247 21% $ 20,448 23% 26% (1) Amounts include stock-based compensation expenses, as follows: Cost of subscription, license and maintenance revenues $ 865 1% $ 761 1% Cost of professional services and other revenues 243 0 216 0 Sales and marketing 2,909 4 3,312 4 Research and development 1,512 2 1,277 1 General and administrative 2,272 3 1,725 2 Total stock-based compensation expenses $ 7,801 10% $ 7,291 8% (2) Acquisition-related costs consist of direct transaction costs related to the agreement by Omniture, Inc., to be acquired by Adobe Systems Incorporated (3) Adjusted EBITDA is equal to the loss from operations less depreciation and amortization, stock-based compensation, acquisition-related costs and the acquisition-related adjustment to deferred revenue Source: Omniture, inc., 8-K, October 15, 2009
  • 10. Omniture, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Nine Months Ended Nine Months Ended September 30, September 30, % Increase % of % of 2008 Revenues 2009 Revenues (Decrease) Revenues: Subscription, license and maintenance $ 191,324 90% $ 231,898 88% 21% Professional services and other 21,290 10 30,683 12 44 Total revenues 212,614 100 262,581 100 24 Cost of revenues (1): Subscription, license and maintenance 79,724 38 96,990 37 22 Professional services and other 10,817 5 12,723 5 18 Total cost of revenues 90,541 43 109,713 42 21 Gross profit 122,073 57 152,868 58 25 Operating expenses: Sales and marketing (1) 96,091 45 102,868 39 7 Research and development (1) 27,840 13 27,010 10 (3) General and administrative (1) 33,993 16 35,464 14 4 Acquisition related (2) — — 5,273 2 N/A Total operating expenses 157,924 74 170,615 65 8 Loss from operations (35,851) (17) (17,747) (7) (50) Interest income 1,659 1 319 — (81) Interest expense (718) (1) (979) — 36 Other (expense), net (541) — (1,678) (1) 210 Loss before income taxes (35,451) (17) (20,085) (8) (43) Provision for income taxes 1,232 — 1,495 — 21 Net loss $ (36,683) (17)% $ (21,580) (8)% (41)% Net loss per share: Net loss per share, basic and diluted $ (0.52) $ (0.28) (46)% Weighted-average number of shares, basic and diluted 71,034 76,116 7% Adjusted EBITDA (3) $ 42,145 20% $ 55,733 21% 32% (1) Amounts include stock-based compensation expenses, as follows: Cost of subscription, license and maintenance revenues $ 3,357 2% $ 2,290 1% Cost of professional services and other revenues 734 0 628 0 Sales and marketing 9,186 4 9,365 4 Research and development 5,352 3 3,762 1 General and administrative 6,474 3 5,705 2 Total stock-based compensation expenses $ 25,103 12% $ 21,750 8% (2) Acquisition-related costs consist of direct transaction costs related to the agreement by Omniture, Inc., to be acquired by Adobe Systems Incorporated (3) Adjusted EBITDA is equal to the loss from operations less depreciation and amortization, stock-based compensation, acquisition-related costs and the acquisition-related adjustment to deferred revenue Source: Omniture, inc., 8-K, October 15, 2009
  • 11. Omniture, Inc. Reconciliation of Non-GAAP Measures (in thousands, except per share data) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2008 2009 2008 2009 Reconciliation of Total Revenues on a GAAP Basis to Total Revenues on a Non-GAAP Basis: Total revenues on a GAAP basis $ 77,781 $ 87,852 $ 212,614 $ 262,581 Acquisition-related adjustment to Touch Clarity deferred revenue (1) — — 378 — Acquisition-related adjustment to Offermatica deferred revenue (1) 80 — 617 2 Acquisition-related adjustment to Visual Sciences deferred revenue (1) 1,820 — 10,558 — Acquisition-related adjustment to Mercado deferred revenue (1) — 171 — 1,130 Total revenues on a non-GAAP basis $ 79,681 $ 88,023 $ 224,167 $ 263,713 Reconciliation of Net Loss on a GAAP Basis to Net Income on a Non-GAAP Basis: Net loss on a GAAP basis $ (17,280) $ (8,519) $ (36,683) $ (21,580) Acquisition-related adjustment to deferred revenue (1) 1,900 171 11,553 1,132 Amortization of intangible assets (2) 7,851 8,043 22,657 23,931 Stock-based compensation 7,801 7,291 25,103 21,750 Imputed interest on patent license obligation (3) 56 33 181 122 Acquisition related (4) — 5,273 — 5,273 Non-cash tax benefit resulting from the reduction in acquisition-related deferred tax liabilities (5) 7,904 — — — Net income on a non-GAAP basis $ 8,232 $ 12,292 $ 22,811 $ 30,628 Reconciliation of Diluted Net Loss per Share on a GAAP Basis to Diluted Net Income per Share on a Non-GAAP Basis: Diluted net loss per share on a GAAP basis $ (0.24) $ (0.11) $ (0.52) $ (0.28) Acquisition-related adjustment to deferred revenue (1) 0.03 — 0.17 0.01 Amortization of intangible assets (2) 0.11 0.10 0.32 0.31 Stock-based compensation 0.11 0.10 0.35 0.29 Imputed interest on patent license obligation (3) — — — — Acquisition related (4) — 0.07 — 0.07 Non-cash tax benefit resulting from the reduction in acquisition-related deferred tax liabilities (5) 0.11 — — — Impact of difference in number of GAAP and non-GAAP diluted shares (0.01) (0.01) (0.02) (0.01) Diluted net income per share on a non-GAAP basis $ 0.11 $ 0.15 $ 0.30 $ 0.39 Reconciliation of Net Loss on a GAAP Basis to Adjusted EBITDA: Net loss on a GAAP basis $ (17,280) $ (8,519) $ (36,683) $ (21,580) Other (income) expense, net 478 597 (400) 2,338 Provision for income taxes 8,408 374 1,232 1,495 Loss from operations on a GAAP basis (8,394) (7,548) (35,851) (17,747) Depreciation and amortization 14,940 15,261 41,340 45,325 Stock-based compensation 7,801 7,291 25,103 21,750 Acquisition related (4) — 5,273 — 5,273 Acquisition-related adjustment to deferred revenue (1) 1,900 171 11,553 1,132 Adjusted EBITDA $ 16,247 $ 20,448 $ 42,145 $ 55,733 (1) This item is recorded in subscription, license and maintenance revenue in the Condensed Consolidated Statements of Operations (2) Amortization of intangible assets is allocated as follows in the Condensed Consolidated Statement of Operations: Three Months Ended Nine Months Ended September 30, September 30, Source: Omniture, inc., 8-K, October 15, 2009
  • 12. 2008 2009 2008 2009 Cost of subscription, license and maintenance revenues $ 4,778 $ 5,022 $ 13,830 $ 14,970 Sales and marketing 2,985 3,021 8,562 8,934 General and administrative 88 — 265 27 Total amortization of intangible assets $ 7,851 $ 8,043 $ 22,657 $ 23,931 (3) This item is recorded in interest expense in the Condensed Consolidated Statements of Operations (4) Acquisition-related costs consist of direct transaction costs related to the agreement by Omniture, Inc., to be acquired by Adobe Systems Incorporated (5) This item is recorded in (benefit from) provision for income taxes in the Condensed Consolidated Statements of Operations Source: Omniture, inc., 8-K, October 15, 2009
  • 13. Omniture, Inc. Additional Metrics (unaudited) March 31, June 30, September 30, December 31, March 31, June 30, September 30, December 31, March 31, June 30, September 30, 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009 2009 Full-time employee headcount 465 531 578 713 985 1,045 1,087 1,189 1,204 1,208 1,194 Quarterly number of transactions captured (in billions) 496.0 520.0 561.3 619.3 851.5 886.6 938.8 993.5 1,045.1 1,052.9 1,083.0 Three Months Ended Nine Months Ended September 30, September 30, 2008 2009 2008 2009 Revenues by geography (in thousands): Customers within the United States $ 55,567 $ 62,927 $ 153,675 $ 188,724 Customers outside the United States 22,214 24,925 58,939 73,857 Total revenues $ 77,781 $ 87,852 $ 212,614 $ 262,581 Revenues by geography as a percentage of total revenues: Customers within the United States 71% 72% 72% 72% Customers outside the United States 29 28 28 28 Total 100% 100% 100% 100% Source: Omniture, inc., 8-K, October 15, 2009
  • 14. Omniture, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2008 2009 2008 2009 Cash flows from operating activities: Net loss $ (17,280) $ (8,519) $ (36,683) $ (21,580) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 14,940 15,261 41,340 45,325 Stock-based compensation 7,801 7,291 25,103 21,750 Non-cash tax provision (benefit) 7,904 — (17) — Other non-cash transactions (56) (27) (308) (59) Loss on foreign currency forward contracts, net 329 885 329 2,672 Net changes in operating assets and liabilities: Accounts receivable, net 2,549 (4,296) (25,154) (16,005) Prepaid expenses and other assets (1,897) (1,039) 112 (146) Accounts payable (2,018) 5,007 4,206 3,753 Accrued and other liabilities 4,823 4,671 2,812 3,661 Deferred revenues 11,810 (101) 48,776 7,790 Net cash provided by operating activities 28,905 19,133 60,516 47,161 Cash flows from investing activities: Purchases of investments (4,977) (14,989) (24,808) (54,927) Proceeds from sales of investments — 100 36,970 5,100 Maturities of investments 15,000 10,000 20,000 30,000 Purchases of property and equipment (13,869) (4,575) (41,871) (16,165) Purchases of intangible assets (443) (464) (3,317) (922) Foreign currency forward contracts (329) (799) (329) (2,967) Business acquisitions, net of cash acquired (1,101) (234) (60,822) (3,823) Net cash used in investing activities (5,719) (10,961) (74,177) (43,704) Cash flows from financing activities: Proceeds from exercise of stock options 2,476 1,976 8,557 2,891 Proceeds from employee stock purchase plan 205 209 330 405 Proceeds from issuance of common stock, net of issuance costs — — — 25,000 Repurchases of vested restricted stock (30) (268) (993) (1,371) Proceeds from issuance of notes payable, net of issuance costs — — 8,006 (51) Principal payments on notes payable and capital lease obligations (1,483) (462) (7,752) (1,001) Net cash provided by financing activities 1,168 1,455 8,148 25,873 Effect of exchange rate changes on cash and cash equivalents (756) (177) (561) 12 Net increase (decrease) in cash and cash equivalents 23,598 9,450 (6,074) 29,342 Cash and cash equivalents at beginning of period 48,093 86,912 77,765 67,020 Cash and cash equivalents at end of period $ 71,691 $ 96,362 $ 71,691 $ 96,362 Source: Omniture, inc., 8-K, October 15, 2009
  • 15. Omniture, Inc. Condensed Consolidated Balance Sheets (in thousands) (unaudited) December 31, September 30, 2008 2009 Assets: Current assets: Cash and cash equivalents $ 67,020 $ 96,362 Short-term investments 9,997 34,990 Accounts receivable, net 106,810 123,465 Prepaid expenses and other current assets 10,369 11,795 Total current assets 194,196 266,612 Property and equipment, net 61,482 56,669 Intangible assets, net 137,505 112,671 Goodwill 427,565 426,867 Long-term investments 18,136 13,908 Other assets 3,316 2,233 Total assets $ 842,200 $ 878,960 Liabilities and Stockholders’ Equity: Current liabilities: Accounts payable $ 7,662 $ 11,501 Accrued liabilities 41,179 40,411 Current portion of deferred revenues 101,728 115,216 Current portion of notes payable 1,617 1,945 Current portion of capital lease obligations 150 21 Total current liabilities 152,336 169,094 Deferred revenues, less current portion 10,222 5,241 Notes payable, less current portion 13,528 12,375 Capital lease obligations, less current portion 79 44 Other liabilities 8,467 7,546 Commitments and contingencies Stockholders’ equity: Preferred stock — — Common stock 73 77 Additional paid-in capital 754,151 802,466 Deferred stock-based compensation (366) (10) Accumulated other comprehensive loss (3,256) (3,259) Accumulated deficit (93,034) (114,614) Total stockholders’ equity 657,568 684,660 Total liabilities and stockholders’ equity $ 842,200 $ 878,960 _______________________________________________ Created by Morningstar Document Research documentresearch.morningstar.com Source: Omniture, inc., 8-K, October 15, 2009