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Pros Holdings, Inc. (PRO) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Pros Holdings, Inc.

CIK: 1392972 Ticker: PRO
Exhibit 99.1



PROS HOLDINGS, INC. REPORTS FOURTH QUARTER 2013 FINANCIAL RESULTS


Record fourth quarter revenue of $38.9 million, meeting the high end of guidance, an increase of 19% over the fourth quarter of 2012.
Record 2013 revenue of $144.8 million, an increase of 23% over 2012.
GAAP operating income of $0.7 million for the fourth quarter.
Non-GAAP operating income for the fourth quarter was $6.5 million, exceeding the high end of guidance.
GAAP earnings per share for the fourth quarter was breakeven, and non-GAAP earnings per share was $0.16.


HOUSTON – February 27, 2014 — PROS Holdings, Inc.
(NYSE: PRO), a big data software company, today announced financial results for the fourth quarter and full year ended December 31, 2013.

Total revenue for the fourth quarter of 2013 was $38.9 million and represented an increase of 19% over the fourth quarter of 2012.

CEO Andres Reiner stated, “Our fourth quarter results capped off another great year for PROS.  We achieved a number of key milestones across the business in 2013, including introducing several new products, announcing our first two acquisitions, and strengthening our leadership team to position us for long-term growth. We are pleased with the progress we are making against our stated growth strategies, and we enter 2014 a stronger and more diversified company with an expanded value proposition, deeper product portfolio, larger geographic presence, and extended go to market reach.”  

For the quarter ended December 31, 2013, GAAP operating income was $0.7 million, compared with $2.3 million in the fourth quarter of 2012. GAAP net income for the fourth quarter was $0.1 million, or breakeven per share, compared with $1.4 million, or $0.05 per share, in the fourth quarter of 2012. The decrease in fourth quarter earnings per share was principally attributed to $1.5 million of acquisition-related costs incurred in the fourth quarter of 2013.

For the quarter ended December 31, 2013, non-GAAP operating income was $6.5 million, compared with $4.9 million in the fourth quarter of 2012, an increase of 32%. Non-GAAP net income for the fourth quarter of 2013 was $5.0 million, or $0.16 per share, compared with $3.3 million, or $0.11 per share, in the fourth quarter of 2012.

For the year ended December 31, 2013, GAAP revenue was $144.8 million, a 23% increase from $117.8 million for the full year 2012. GAAP operating income was $3.5 million for the full year 2013, compared with $8.2 million for the full year 2012. GAAP net income for the full year 2013 was $3.4 million, or $0.11 per share, compared with $5.0 million, or $0.17 per share for the full year 2012.
   
For the year ended December 31, 2013, non-GAAP operating income was $21.9 million, a 23% increase from $17.8 million for the full year 2012. Non-GAAP net income for the full year 2013 was $17.5 million, or $0.58 per share, compared with $11.9 million, or $0.42 per share for the full year 2012.

Backlog was $181.5 million as of December 31, 2013, based upon non-GAAP revenue, as compared with backlog of $146.5 million as of December 31, 2012. The portion of backlog as of December 31, 2013 reasonably expected to be recognized as revenue within the next twelve months is estimated to be $121.7 million.




1

The following information was filed by Pros Holdings, Inc. (PRO) on Thursday, February 27, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Income Tax Disclosure Components Of Income Tax (details)
Income Tax Disclosure Reconciliation Of Federal Tax Rate (details)
Income Tax Disclosure Tax Effect Of Temporary Differences (details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (details)
Condensed Consolidated Balance Sheets (unaudited)
Condensed Consolidated Balance Sheets (unaudited) (parenthetical)
Condensed Consolidated Statements Of Cash Flows (unaudited)
Condensed Consolidated Statements Of Comprehensive Income (unaudited)
Consolidated Statement Of Shareholders Equity
Accounts Receivable And Contracts In Progress
Accounts Receivable And Contracts In Progress (details)
Accounts Receivable And Contracts In Progress (tables)
Business Combination
Business Combination (details)
Business Combination (tables)
Business Combination Assets Acquired And Liabilities Assumed (details)
Business Combination Pro Forma (details)
Business Combination Schedule Of Intangible Assets Acquired (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Commitments And Contingencies Future Minimum Lease Commitments (details)
Concentrations Of Risk
Concentrations Of Risk (details)
Credit Facility
Credit Facility (details)
Earnings Per Share
Earnings Per Share (table)
Earnings Per Share Basis And Diluted (details)
Employment Retirement Savings
Employment Retirement Savings (details)
Fair Value Measurements
Fair Value Measurements (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (details)
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets Future Amortization (details)
Goodwill And Intangible Assets Intangible Assets (details)
Income Tax Disclosure
Income Tax Disclosure (details)
Income Tax Disclosure (tables)
Income Tax Disclosure Unrecognized Tax Benefit (details)
Noncash Share-based Compensation
Noncash Share-based Compensation (details)
Noncash Share-based Compensation (tables)
Noncash Share-based Compensation Assumptions (details)
Noncash Share-based Compensation Expense (details)
Noncash Share-based Compensation Narrative (details)
Noncash Share-based Compensation Noncash Share-based Compensation Share Based Compensation - Stock Option Rollforward (details)
Organization And Nature Of Operations
Property And Equipment, Net
Property And Equipment, Net (details)
Property And Equipment, Net (tables)
Quarterly Results
Quarterly Results (details)
Quarterly Results Quarterly Financial Information Disclosures (tables)
Related Party Transaction
Segments
Segments (tables)
Segments International Revenue (details)
Stockholders Equity
Stockholders Equity (details)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies Awards Outstanding (details)
Summary Of Significant Accounting Policies Significant Accounting Policies (details)
Ticker: PRO
CIK: 1392972
Form Type: 10-K Annual Report
Accession Number: 0001392972-14-000045
Submitted to the SEC: Mon Mar 03 2014 5:12:30 PM EST
Accepted by the SEC: Mon Mar 03 2014
Period: Tuesday, December 31, 2013
Industry: Computer Programming Services

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