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DemandTec, Inc. (DMAN) announced its financial results last week for the second quarter of fiscal year 2010 ended August 31, 2009.
Revenue was $19.8 million in the second quarter of fiscal 2010, a 6% increase from $18.6 million in the second quarter of fiscal 2009 and a 1% increase from $19.5 million in the first quarter of fiscal 2010. Revenue was slightly higher than analysts' estimates.
Non-GAAP net income was $750,000, or $0.02 per diluted share, in the second quarter of fiscal 2010, compared to non-GAAP net income of $1.2 million, or $0.04 per diluted share, in the second quarter of fiscal 2009. The Company's EPS results were in line with analysts' estimates.
Dan Fishback, President and CEO of DemandTec, commented in a conference call last week, "We have been able to meet or exceed our guidance targets during this economic downturn due to our ongoing focus on managing our business and our continued innovation for futher growth. Our investment in R&D has allowed us to further differentiate ourselves from our competitors in the markets that we serve."
He continued, "We have a very high renewal rate among our retail customers. These customers are some of the largest and most repected companies worldwide. Our CP business continues to provide an opportunity to expand our strategic place of importance to our current and potential customers."
Mr. Fishback added, "We see clear indications from our customers and prospects that interest in nextGEN, which enables retailers to optimize prices for both overall category growth AND objectives for specific customer segments, remains high. Therefore, we are committed to investing in our business and focusing on additional new and retail CP customers, while expanding our relationships with our world-class customer base."
DemandTec customers include more than 195 leading retailers and consumer products manufacturers such as Best Buy, ConAgra Foods, Delhaize America, General Mills, Giant-Carlisle, H-E-B Grocery Co., Hormel Foods, Monoprix, PETCO, Safeway, Sara Lee, The Home Depot, and WH Smith.
Mark Culhane, CFO of DemandTec, noted, "We expect our Q3 revenue in a range of $19.8 million-$20.0 million, and non-GAAP EPS of $0.02."
He added, "We expect FY10 revenue growth of 6-7% over FY09, and we expect FY10 non-GAAP EPS in the range of $0.06-$0.09."
Wedbush Morgan reiterated its Neutral rating today for DMAN.
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