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Technology Stocks : Deltek, Inc. (PROJ)
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From: JakeStraw7/30/2010 10:09:56 AM
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“Overall, we are pleased with our accomplishments in the second quarter, and we’re seeing continuing interest from new and existing customers for Deltek’s innovative solutions,” said Kevin Parker, Deltek’s president and CEO. “Our results reflect significant sales to our customer base as they purchased new Deltek applications and expanded the use of their existing Deltek solutions – both indications that our customers are more confident about the state of the economy and their businesses. For the first six months of the year, our license revenue is up nearly 6%. We’ve also booked a number of important new customers during Q2 for which revenue will be recognized in the coming quarters. As a result, our deferred revenues increased significantly in the quarter, and we generated very strong cash flow. We’re expecting this first half momentum to continue through Q3.”

“We are extremely enthusiastic about our recent strategic acquisition of Maconomy, a European software provider that delivers market-leading solutions to professional services firms. Adding Maconomy’s solutions to our existing product portfolio greatly extends our geographic reach and opens up new vertical markets within the broad professional services sector. The combination of Deltek and Maconomy is the only true global enterprise applications provider solely focused on serving the needs of project-focused and professional services businesses. We will leverage the unique strengths of both companies as we accelerate our go-to-market plans to capture the professional services market opportunity. We expect positive results from this acquisition in the near term.”
finance.yahoo.com
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