[November 11, 2009] Keynote Posts Financial Results Tweet Nov 11, 2009 (Close-Up Media via COMTEX) -- Keynote Systems, a provider of on-demand mobile and Internet test & measurement solutions, reported financial results for its fiscal fourth quarter and year ended September 30. Umang Gupta, chairman and CEO of Keynote, said, "As the preeminent provider of test and measurement solutions for the Internet and for the mobile ecosystem, we delivered solid financial performance in a tough economy. The market continues to validate our solutions, while our new product development impresses customers. During the quarter, we again exceeded our revenue, GAAP earnings and non-GAAP earnings expectations. In fact, even with the negative impact of foreign exchange rates, we closed the year with the highest annual revenue in our company's history." In a release dated November 9, the company stated: - Revenue for the fourth quarter of fiscal year 2009 was $19.7 million, compared to $21.1 million in the fourth quarter of fiscal year 2008, partially due to the impact of foreign currency exchange rates. Under generally accepted accounting principles (GAAP), net income for the fourth quarter of fiscal year 2009 was $537,000, or $0.04 per diluted share, compared to a net loss of $631,000, or $0.05 per share, for the fourth quarter of fiscal year 2008. - The non-GAAP net income for the fourth quarter of fiscal year 2009 was $2.2 million, or $0.15 per diluted share, compared to $1.4 million, or $0.10 per diluted share, for the fourth quarter of fiscal year 2008. The company defines non-GAAP net income as net income adjusted for provision for income taxes, stock-based compensation expense, and amortization of purchased intangibles less cash taxes from on-going operations. Non-GAAP earnings per share equals non-GAAP net income divided by the diluted weighted average shares outstanding for the period. - Revenue for fiscal year 2009 was $80.1 million, a 4 percent increase compared to revenue of $76.9 million for fiscal year 2008, amidst comparatively unfavorable foreign exchange rates in 2009. Net income for fiscal year 2009 was $3.3 million, or $0.23 per diluted share, compared to a net loss of $3.1 million, or $0.20 per share, for fiscal year 2008. The non-GAAP net income for the fiscal year 2009 was $10.3 million, or $0.71 per diluted share, compared to non-GAAP net income of $4.3 million, or $0.27 per diluted share, for the fiscal year 2008. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]