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Forum List » Business News and Headlines SEC Filings, Earing Reports, Press Releases  
GUIDANCE SOFTWARE, INC. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: August 10, 2009 06:19PM
GUIDANCE SOFTWARE, INC. (GUID) filed Quarterly Report for the period ended 2009-06-30. Highlight of Business Operations:Product revenues decreased by $3.7 million, or 35% for the three months ended June 30, 2009 over the same period in 2008 and decreased by $6.3 million, or 29% for the six months ended June 30, 2009 over the same period 2008. Product revenue decreased primarily due to a $3.5 million and a $6.6 million reduction in EnCase® Enterprise license revenues for the three and six months ended June 30, 2009 and 2008, respectively. The decrease in EnCase® Enterprise license revenues was due to the challenging global economic environment and resulting negative impact in customers’ purchases. The sequential decline was larger than normal seasonal patterns and we experienced declines in all geographic regions. Services and maintenance revenues decreased by $1.4 million, or 13% for the three months ended June 30, 2009 over the same periods in 2008 and decreased $1.9 million, or 9% for the six months ended June 30, 2009 over the same period in 2008. Professional services revenues decreased by $1.5 million, or 41% and $2.8 million, or 36% for the three and six months ended June 30, 2009 over the same period in 2008, respectively, due to reduced demand for both implementation services and eDiscovery services as a result of the decline in sales compared to the prior year. Training revenue decreased by $0.5 million, or 21% and $1.3 million, or 26% for the three and six months ended June 30, 2009 over the same period in 2008, respectively, due to the reduced availability of travel and training budgets by our customers. During the six months ended June 30, 2009 we experienced an increased number of customers participating in our On Demand web enabled training courses which has provided a travel free alternative to our customers. Maintenance revenue increased by $0.6 million, or 13% and increased $2.2 million or 25% for the three and six months ended June 30, 2009 over the same periods in 2008, respectively, as a result of an on-going increase in our installed product base and high annual renewal rates by customers desiring continuing maintenance support on our products. GUID is in the portfolios of PRIMECAP Management.
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