Deltek Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $6.61 million or $0.10 diluted per share on the total revenue of $64.1 million compared to net income of $8.02 million or $0.17 diluted per share on the total revenue of $70.95 million for the same period last year. The company reported income from operations of $10.17 million and income before income taxes of $8.23 million compared to income from operations of $11.43 million and income before income taxes of $9.01 million for the same period last year. The company reported adjusted pre-tax income of $13.64 million and non-GAAP net income of $9.9 million or $0.15 diluted per share compared to adjusted pre-tax income of $12.9 million and non-GAAP net income of $10.3 million or $0.22 diluted per share for the same period last year. The company reported non-GAAP operating income and margin of $15.6 million and adjusted EBITDA of $17.01 million compared to non-GAAP operating income and margin of $15.19 million and adjusted EBITDA of $16.7 million for the same period last year. For the nine months, the company reported net income of $14.16 million or $0.26 diluted per share on the total revenue of $195.5 million compared to net income of $17.5 million or $0.26 diluted per share on the total revenue of $195.5 million for the same period last year. The company reported income from operations of $25.2 million and income before income taxes of $20.4 million compared to income from operations of $34.3 million and income before income taxes of $26.3 million for the same period last year. The company reported net cash provided by operating activities of $51.2 million and purchase of property and equipment of $1.86 million compared to net cash provided by operating activities of $33.02 million and purchase of property and equipment of $5 million for the same period last year. The company reported adjusted pre-tax income of $35.3 million and non-GAAP net income of $23.18 million or $0.42 diluted per share compared to adjusted pre-tax income of $37.05 million and non-GAAP net income of $24 million or $0.50 diluted per share for the same period last year. The company reported non-GAAP operating income and margin of $40.13 million and adjusted EBITDA of $44.7 million compared to non-GAAP operating income and margin of $45.1 million and adjusted EBITDA of $49.13 million for the same period last year.

Deltek, Inc. provided earnings guidance for the fourth quarter of 2009. The company expects expect license revenue to be in the range of $15.5 million to $16.5 million, and total revenue to be between $65 million and $66 million. The company expects non-GAAP operating income to be in the range of $15 million to $17 million, which results in an operating margin of approximately 23% to 25%. Non-GAAP operating income excludes the impact of approximately $2.6 million of stock-based compensation expenses, and approximately $1 million of intangible amortization expenses. GAAP earnings per share is expected to be in the range of $0.09 to $0.11 per share. On a non-GAAP basis, expect the earnings to be in the range of $0.12 to $0.14 per share.

Deltek, Inc, Q3 2009 Earnings Call, Oct 29 2009