ArcSight Reports Growth for Fiscal First Quarter
Sep 10, 2009 (Close-Up Media via COMTEX) --
Company: ArcSight Inc (ARST)
ArcSight, Inc., a provider of security and compliance management solutions that protect enterprises and government agencies, announced financial results for its fiscal first quarter ended July 31.
In a September 3 release, ArcSight reported total revenues of $34.6 million compared to total revenues of $27.7 million reported in the first quarter of fiscal 2009. Net income on a GAAP basis for the first quarter of fiscal 2010 was $1.0 million, or $0.03 per diluted share, including $222,000 in amortization of intangible assets and $1.9 million in stock-based compensation expense. This compares to a GAAP net loss of $1.3 million, or $(0.04) per diluted share, reported in the first quarter of fiscal 2009, including $211,000 in amortization of intangible assets and $1.4 million in stock-based compensation expense.
Non-GAAP net income for the first quarter of fiscal 2010 was $3.2 million, or $0.09 per diluted share, excluding the above-mentioned amortization and stock-based compensation charges. This compares to a non-GAAP net income of $0.3 million, or $0.01 per diluted share, reported in the first quarter of fiscal 2009, excluding the above-mentioned charges.
During the first quarter of fiscal 2010, the company generated $9.0 million in cash from operations and closed the first quarter with cash and cash equivalents of $101.5 million.
The following forward-looking statements reflect expectations as of September 3. Results may be materially different and could be affected by the factors detailed in this release and in recent ArcSight SEC filings.
Based on current business trends and the visibility the company has from first quarter performance, including an anticipated seasonally higher second quarter relative to the company's first quarter, ArcSight expects revenue for the second quarter of fiscal 2010 to be in the range of $38.5 million to $42.5 million, representing growth in the range of 17-30 percent over the same quarter of fiscal 2009.
ArcSight expects non-GAAP net income for the second quarter of fiscal 2010 to be in the range of $3.5 million to $4.9 million, or $0.10 to $0.14 per diluted share, which excludes stock-based compensation expense and amortization of intangibles.
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Company: ArcSight Inc (ARST)
Related terms: business, financial results, gaap, government, revenue, sec, security
