Chordiant Software (CHRD) Tops Q3 EPS By 1c; Comments On Outlook

July 30, 2009 4:11 PM EDT

Chordiant Software (Nasdaq: CHRD) reports Q3 EPS of $0.06, 1 cent better than the analyst estimate of $0.05. Revenue for the quarter was $20.9 million, versus the consensus of $22.19 million.

Although the Company is not providing specific bookings, revenue, cash flow or earnings per share guidance, it is providing the following basic parameters for its financial performance in fiscal 2009. We expect:

to recognize a total of $1.0 to $2.0 million of the remaining $6.2 million in license revenue backlog, over the remaining quarter of fiscal year 2009; to continue to renew our existing support and maintenance contracts at rates in line with our historical experience. For the trailing 12-month period ended June 30, 2009, support and maintenance revenues averaged approximately $9.1 million per quarter; our aggregate services revenues to improve sequentially in the fourth quarter of fiscal year 2009; and
to be approximately break-even on a non-GAAP basis in the fourth quarter of fiscal year 2009.

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