Guidance Software Q3 net loss declines

Tue. November 03, 2009; Posted: 01:08 PM

Nov 03, 2009 (Datamonitor via COMTEX) -- GUID | Quote | Chart | News | PowerRating -- Guidance Software, a US-based developer of software solutions for digital investigations, has posted a net loss of $2.16 million, or $0.09 per share, for the third quarter ended September 30, 2009, compared to a net loss of $3.66 million, or $0.16 per share, for the same quarter of 2008.

Total revenues for the third quarter of 2009 declined to $19.01 million from $23.12 million for the same quarter of 2008.

For the first nine months of 2009, the company has posted a net loss of $13.35 million, or $0.58 per share, compared to a net loss of $8.98 million, or $0.39 per share, for the same period of 2009. The company has posted total year-to-date revenues of $54.1 million compared to $66.31 million in the 2008.

Victor Limongelli, president and CEO of Guidance Software, said: "After a challenging first half of the year that was impacted by the recession and delayed purchase decisions, we saw significant improvement in our third quarter results. Our new products have been well received, and demand from customers for eDiscovery technology increased significantly.

"We saw sequential improvements in all of our lines of business, and we also saw continued benefits from our cost reduction actions taken earlier in the year, as total expenses were significantly lower in the third quarter compared to the first two quarters of fiscal 2009."

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