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Guidance Software Reports 2012 Fourth Quarter And Full Year Financial Results

Guidance Software, Inc. (NASDAQ: GUID) today reported financial results for the fourth quarter and year ended December 31, 2012.

Fourth quarter 2012 financial highlights:
  • GAAP revenue of $36.2 million and non-GAAP revenue of $36.7 million, compared to GAAP and non-GAAP revenue of $29.9 million in the fourth quarter of 2011
  • GAAP SaaS revenues of $2.5 million and non-GAAP SaaS revenue of $2.8 million
  • Product revenue of $16.2 million, compared to $16.8 million in the fourth quarter of 2011
  • Services and maintenance revenue of $17.6 million, an increase of $4.5 million, or 34 percent, from $13.1 million in the fourth quarter of 2011
  • GAAP net income of $1.9 million, or $0.07 per share, compared to a GAAP net income of $2.3 million, or $0.09 per share, in the fourth 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 $4.5 million, or $0.17 per share, in the fourth quarter of 2012, compared to non-GAAP pre-tax net income of $3.9 million, or $0.16 per diluted share, in the fourth quarter of 2011.

Guidance Software President and Chief Executive Officer Victor Limongelli said, “The fourth quarter was our best quarter ever, with both record revenue and record earnings. We continued to execute on our 'EnCase Everywhere' strategy by adding an all-time high number of 129 new EnCase® Enterprise customers during the fourth quarter and 358 customers for the full year. Our strong performance was further bolstered by the addition of 20 new EnCase® Cybersecurity customers in the fourth quarter.

“Over the coming year, we are planning to launch an entirely new product on the EnCase® Enterprise platform. This new product will be targeted at the IT Security market and will be unveiled at our CEIC conference in May. With this new offering and continued expansion of the capabilities of our existing products, we will make additional investments in sales, marketing and R&D to position Guidance for long-term growth.”

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