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Pharsight Achieves $7.4 Million in Quarterly Revenue
Date:1/24/2008

he comparable period of fiscal 2007. Excluding the impact of stock-based compensation, non-GAAP net income for the first nine months of fiscal 2008 was $2 million, 9% of revenue for the period. Net loss per basic and diluted share during the first nine months of fiscal 2008 were both $0.72 and included $0.82 in a non-cash accounting charge associated with the preferred stock conversion in the first quarter of fiscal 2008. Net income per basic and diluted share during the first nine months of fiscal 2007 were both $0.06. Non-GAAP net earnings per basic and diluted share for the first nine months of fiscal 2008 were $0.20 and $0.19 respectively and exclude the impact of stock-based compensation and the non-cash accounting charge associated with the preferred stock conversion. Non-GAAP net earnings per basic and diluted share during first nine months of fiscal 2007 were $0.16 and $0.14 and excluded the impact of stock-based compensation.

A reconciliation of GAAP to non-GAAP financial measures is included in the tables attached to this press release and on Pharsight's website under the investor relations section.

Cash & Liquidity

Pharsight exited the third fiscal quarter with cash, cash equivalents and short-term investments of $15.1 million compared with $14.7 million at the end of fiscal 2007 and $13.0 million at December 31, 2006.

Fiscal 2008 Guidance

The Company is reiterating its guidance for fiscal 2008 and has adjusted the non-GAAP diluted earnings per share guidance to reflect the Company's 1-for-3 reverse stock split effected on November 13, 2007. The updated non-GAAP diluted earnings per share is expected to be between $0.21 and $0.33, excluding the effects of the following non-cash items: approximately $0.69 related to the change in the fair value of the conversion feature of the Company's redeemable preferred stock and approximately $0.12 related to stock-based compensation expense.

"We are excited about the opportun
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SOURCE Pharsight Corporation
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