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News

Strong financial results for digital forensics company

Guidance Software : 11 August, 2008  (Company News)
Quarterly rise not as strong as expected as orders for Encase Enterprise digital forensics suite become deferred
Guidance Software has reported its financial results for the second quarter ended June 30, 2008.

Total revenue in the second quarter of fiscal 2008 was $21.5 million, advancing $3.0 million, or 16 percent, year-over-year. Product revenue rose to $10.7 million, an increase of $0.4 million, or 4 percent, year-over-year. The company achieved record Services and Maintenance revenue of $10.8 million, climbing $2.6 million, or 32 percent, over the same period last year. Deferred revenue grew by $5.5 million, or 24 percent, year-over-year, ending the second quarter at $28.4 million.

“We had strong performance by our services businesses, and strong bookings of EnCase Forensic,” said Victor Limongelli, President and Chief Executive Officer of Guidance Software. “However, our second quarter results were impacted by lower than expected orders for EnCase Enterprise, as a number of expected transactions were deferred to later periods by customers.”

On a GAAP basis, the company reported a second quarter 2008 net loss of $2.6 million, or ($0.11) per share, versus a net loss of $1.0 million, or ($0.04) per share in the same quarter of the previous year.

On a non-GAAP pre-tax basis, the company’s second quarter 2008 loss, excluding share-based compensation, was $748,000, or ($0.03) per share, as compared to non-GAAP pre-tax income, excluding share-based compensation, of $151,000, or $0.01 per share, in the second quarter of 2007. Share-based compensation in the second quarter of fiscal 2008 was $2.2 million, up $1.2 million year-over-year.
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