Pervasive Ups Guidance

Pervasive Software Inc. (PVSW - Snapshot Report) has recently upgraded guidance for the first quarter, ended Sep 30, 2009. The company expects to report revenues between $11.9 million and $12.2 million compared to the previous estimate of $10.5 million to $11.5 million. EPS is estimated between 7 cents and 8 cents, up from the earlier forecast of 4 cents to 7 cents. 

Management added that it has signed a relatively large transaction in the database segment with a customer representing approximately $2.4 million in revenues. 

Pervasive invested approximately $2.6 million in cash in the September quarter to acquire assets of Greenville, ChanneLinx Inc., a privately held business-to-business Web-based data interchange technology company based in South Carolina. 

For the December quarter, Pervasive expects revenues between $11.0 million and $12.0 million. EPS is estimated between 5 cents and 8 cents. Achieving and maintaining consistent profitability in trying times has been the underlying theme in the Pervasive story and the company has succeeded in achieving growth in both top and bottom lines. 

At the end of June, the company had roughly $43 million in cash on its balance sheet and no debt. This allows the company to focus on growth drivers including accretive M&A opportunities and increasing shareholder value through repurchases. 

During the September quarter, the company repurchased 258,000 shares for approximately $1.3 million under its previously announced share repurchase program of $10.0 million. The company still has $7.6 million remaining under this program. 

Headquartered in Austin, Texas, Pervasive provides data management and integration software products to small- and mid-sized enterprises through a well-developed channel of independent software vendors, value-added resellers and system integrators. Its solutions enable customers to manage, integrate, analyze and secure their data. 

Pervasive is scheduled to report first quarter results on Oct 20, 2009.