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January 7, 2010
Share ThisPervasive Software Inc. (PVSW) recently narrowed its guidance for the second quarter. The company now expects revenues to come between $11.5 million and $11.7 million compared to the previous guidance of revenues between $11.0 million and $12.0 million. Earnings per share (EPS) are now projected between $0.06 and $0.07 compared to the earlier projection of $0.05 – $0.08.
Pervasive expects to generate $2.3 million of cash flow from operating activities. The company repurchased approximately 204,000 shares for $1.0 million and still has approximately $6.6 million authorized repurchase funds remaining under its $10.0 million stock repurchase program announced in March 2009.
Pervasive’s lastest product Pervasive DataRush generated $0.1 million of revenues in the second quarter. The company earlier reported results for the first quarter which was in line with expectations. For the fiscal third quarter, Pervasive expects revenues between $11.0 million and $12.0 million. Earnings per share (EPS) are anticipated to come around $0.07. Achieving and maintaining consistent profitability in turbulent times has been the underlying theme in the Pervasive story. The company has succeeded in achieving growth in both top and bottom lines by focusing on growth drivers, including accretive M&A opportunities.
Headquartered in Austin, Texas, Pervasive provides data management and integration software products to small- and mid-sized enterprises through a well-developed channel of independent software vendors, value-added resellers and system integrators. Its solutions enable customers to manage, integrate, analyze and secure their data.
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