- Fiscal year 2010 revenues of $177.9 million, an 11.3 percent increase over fiscal year 2009 revenues of $159.9 million and exceeding guidance
- Fiscal year 2010 gross margin of 38.6 percent, achieving guidance
- Fiscal year 2010 Adjusted EBITDA(1) of $8.2 million
- Record-level fiscal year 2010 Product segment revenues of $97.4 million, a 41.4 percent increase over fiscal year 2009
- Strong fourth quarter 2010 bookings of $63.5 million; full fiscal year 2010 bookings of $188.9 million
Revenue for the fourth quarter of fiscal year 2010 was $55.5 million, an increase of 42.7 percent compared to the fourth quarter of fiscal year 2009. Gross margin for the quarter was 38.6 percent compared to 32.6 percent for the same period last year. Fourth quarter fiscal year 2010 income from operations was $1.2 million compared to a loss from operations of $1.6 million in the fourth quarter of fiscal year 2009. Adjusted EBITDA for the fourth quarter of fiscal year 2010 was $3.7 million compared to $0.7 million in the fourth quarter of fiscal year 2009. Fourth quarter 2010 results include the impact of a $2.8 million lease loss reserve resulting from the sublease of a portion of the Company's former headquarters facility at a lower rental rate than the original lease and an increased reserve on an adjacent facility, which was fully vacated by the Company during the fourth quarter of 2010. Excluding the impact of the lease loss reserve, fourth quarter Adjusted EBITDA would have been $6.5 million. Operating results for the fourth quarter of fiscal year 2010 reflect continued investments in research and development and in starting up Integral Systems Service Solutions (IS3) as well as the full impact of the lease loss reserve. Diluted earnings per share for the fourth quarter of 2010 were $0.00 compared to the diluted loss of $0.06 per share for the fourth quarter of fiscal year 2009. To read the entire financial report, access this direct link.