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ServiceSource International CEO Buys 22,900 Shares (SREV)

ServiceSource International Inc. (NASDAQ: SREV) Chairman and CEO, Michael A. Smerklo, recently bought 22,900 shares of SREV common stock for $6.44 per share, according to a SEC filing.

Smerklo’s total investment was $147,524. This is the second purchase made by the CEO in the past one year. He had made the earlier purchase at $6.90 per share.

Last month, ServiceSource International had reported its fourth-quarter and full-year 2012 financial results. For the quarter ended December 31, 2012, the company had reported revenue of $67.3 million, up 11% over the same period in the previous year. The company’s revenue for the full year was $243.7 million, compared to $205.5 million reported for the same period in the previous year.

SREV reported fourth-quarter adjusted EBITDA of $8.3 million, compared to $9.3 million reported for the same period in the previous year. For the full year, adjusted EBITDA was $20.9 million, compared to $17.8 million reported in 2011. GAAP net loss for the quarter was $1.2 million, or $0.02 per share, compared to a profit of $1.7 million, or $0.02 per share reported for the same period in the previous year. On a non-GAAP basis, the company reported net income of $3.6 million, or $0.05 per share for the fourth quarter.

GAAP net loss for the full year was $42.8 million, or $0.58 per share, compared to a profit of $15.1 million, or $0.21 per share reported in 2011. On a non-GAAP basis, net income for 2012 was $7.9 million, or $0.10 per share, compared to $6.5 million, or $0.09 per share reported in 2011.

SREV shares are currently trading 1.18% lower at $6.26 on volume of 67,543. Year-to-date, the stock has gained more than 6.80%, outperforming the Nasdaq, which has gained more than 4.60% in the same period.

San Francisco, California-based ServiceSource International is a service revenue management company.