Saba Software Reports Mixed Earnings (SABA)

Saba Software Inc. SABA reports Q3 earnings of $0.00 versus consensus of $0.06. Saba Software Inc. reports revenues of $26.8 million versus consensus of $28.37 million. Revenues increased 3.9% year over year. "The first quarter increase in total revenues reflects solid growth in our subscription and professional services revenues," said Bobby Yazdani, Chairman and CEO of Saba. "Customers' buying preferences in the quarter validated their enthusiasm for our advanced SaaS offerings and yielded an approximately three-fold increase in the annual contract value of new SaaS bookings over the same period last year." For fiscal 2011, ending May 31, 2011, the company confirmed prior guidance of total revenues between $121 million and $124 million, GAAP net earnings of $0.15 to $0.19 per share on a fully diluted basis and non-GAAP net earnings of $0.34 to $0.38 per share on a fully diluted basis. Due to customers' seasonal spending patterns, Saba continues to expect that revenues, earnings and cash flows will be weighted more heavily towards the second half of the fiscal year.