(PVSW) Pervasive Software Reports In-line Quarter

January 27th, 2010

Pervasive Software Inc. (PVSW) reported revenues of $11.6 million in the second quarter of fiscal 2010, up 4% year over year.

Revenues from domestic operations came in at $8 million, down 10% sequentially but up 5% year over year. International operations (primarily Europe and Japan) totaled $3.6 million, up 10% sequentially but flat year over year.

In terms of products, database products represented approximately 60% of the total business while integration and business exchange products represented approximately 40% of the business.

Net income came in at $1.3 million or 7 cents per share, easily beating the Zacks Consensus Estimate of 5 cents.

The results came in line with the updated guidance provided by the company on Jan 7, 2010.

During the quarter, the company generated $2.2 million of cash from operations and used $1.0 million to repurchase approximately 200,000 shares. Pervasive still has $6.6 million remaining under its $10.0 million stock repurchase program announced in March 2009.

Pervasive ended the quarter with cash, equivalents and marketable securities of $41.7 million.

Going forward, management expects revenues between $11.0 million and $12.0 million in the third quarter. Earnings per share are projected between 4 cents and 7 cents.

Headquartered in Austin, Texas, Pervasive provides data management and integration software products to small- and mid-sized enterprises through a well-developed channel of independent software vendors, value-added resellers and system integrators. Its solutions enable customers to manage, integrate, analyze and secure their data.

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(PVSW) Pervasive Software Reports In-line Quarter

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