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Guidance Software Reports 2012 Second Quarter Financial Results

Guidance Software, Inc. (NASDAQ:GUID) today reported financial results for the quarter ended June 30, 2012.

Second quarter 2012 financial highlights include:
  • GAAP revenue of $31.1 million and non-GAAP revenue of $31.5 million. This compares to GAAP and non-GAAP revenue of $23.9 million in the second quarter of 2011.
  • Product revenue of $12.0 million, an increase of $0.8 million, or 8 percent, from $11.2 million in the second quarter of 2011.
  • GAAP SaaS revenue of $2.8 million and non-GAAP SaaS revenue of $3.2 million.
  • Services and maintenance revenue of $16.2 million, an increase of $3.5 million, or 27 percent, from $12.7 million in the second quarter of 2011.
  • GAAP net loss of $1.6 million, or ($0.06) per share, compared to a GAAP net loss of ($1.4) million, or ($0.06) per share, in the second quarter of 2011.

On a non-GAAP basis, which excludes share-based compensation, acquisition-related expense, and amortization of intangibles, the company reported pre-tax net income of $1.4 million, or $0.05 per share, in the second quarter of 2012, compared to non-GAAP pre-tax net income of $0.4 million, or $0.02 per share, in the second quarter of 2011.

Victor Limongelli, Guidance Software’s President and Chief Executive Officer, said, “We had a fantastic second quarter, with strong overall growth, including robust organic growth, and improved non-GAAP earnings. In addition to revenues increasing more than 30% on a year-over-year basis, we also signed a record number of new EnCase Enterprise customers, bringing 100 new customers into our install base during the quarter.”

Limongelli continued, “The value of our software was once again recognized by Gartner Inc., who positioned us in its ‘Leaders’ Quadrant for E-Discovery Software. This represents an important third-party endorsement of our offering. Looking ahead, we will continue to focus on enhancing our product offerings and acquiring new customers in the second half of fiscal 2012 and beyond.”

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