Deltek, Inc. (Nasdaq: PROJ) released the following financial results for its second quarter which ended June 30, 2010:
“Q2 license revenue was $14.5 million, compared with $15.8 million in the second quarter of 2009. Maintenance and support revenue in the second quarter was $32.7 million, compared with $31.0 million in the prior year. Consulting services revenue for Q2 was $13.5 million, compared to $19.2 million in Q2 2009. Total revenue for the second quarter of 2010 was $64.5 million, compared with $69.4 million in Q2 2009.”
“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.”
