Deltek Reports Q3 EPS of $(0.06)
Deltek, Inc. (Nasdaq: PROJ) today announced financial results for its third quarter ended September 30, 2010.
Q3 license revenue was $15.4 million, compared to $12.7 million in the third quarter of 2009, an increase of 21%. Maintenance and support revenue in the third quarter was $33.9 million, compared with $31.6 million in the prior year. Due to the GAAP purchase accounting treatment of the Maconomy acquisition, maintenance and support revenues included in Q3 are approximately $2.6 million less than Maconomy's historical results. Consulting services revenue for Q3 was $15.6 million, compared to $19.7 million in Q3 2009. Total revenue for the third quarter of 2010 was $65.2 million, compared to $64.1 million in Q3 2009.
Q3 GAAP net loss was $4.1 million, or ($0.06) per diluted share, including the after-tax impact of the $3.6 million of acquisition-related transaction costs, the $1.7 million in incremental amortization expense and reflecting the purchase accounting treatment of the $2.6 million associated with maintenance and support contracts described above.
This compares with $6.6 million, or $0.10 per diluted share, in the third quarter of 2009. Non-GAAP net income for the third quarter of 2010 was $4.3 million, or $0.06 per diluted share, compared to $9.9 million, or $0.15 per diluted share, in Q3 2009. Non-GAAP net income for Q3 2010 does not include the after-tax effect of the $3.6 million of transaction costs previously discussed or the $1.7 million in incremental amortization, but does reflect the $2.6 million purchase accounting treatment.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.