Cash & Liquidity
Pharsight exited the fourth fiscal quarter with cash, cash equivalents
and short-term investments of $17.1 million compared with $14.7 million at
the end of fiscal 2007.
Fiscal 2009 Guidance
The Company is issuing the following guidance for fiscal 2009:
-- Annual revenue growth of approximately 13% to 18% compared with fiscal
2008, or approximately $32 to $33.5 million.
-- Gross margin of approximately 64% to 66% of revenue, depending on the
revenue mix between software, software services and consulting
-- Non-GAAP net income, excluding non-cash expenses associated with
stock-based compensation expense of approximately 11% to 13% of revenue
with non-GAAP fully diluted EPS of approximately $0.34 to $0.41.
-- GAAP net income of approximately 7% to 9% of revenue with GAAP fully
diluted EPS of approximately $0.21 to $0.29.
-- Positive annual net cash flow
"We are very proud of what we set out to achieve and executed during fiscal 2008," said Will Frederick, senior vice president and chief financial officer. "We performed to our annual guidance originally provided at the beginning of the fiscal year, paid off all our debt and successfully re-listed our common stock on the Nasdaq Capital Market. Additionally, our preferred shareholders converted their shares into common stock, relieving the company of the quarterly dividend liability. This year marked our 5th consecutive year of annual revenue growth and our 4th consecutive year of profitability and positive annual net cash flow. As we enter the FY09 fiscal year, we have cash equivalents and short-term investments in excess of $17 million, with no outstanding debt and a $5 million available credit facility."
While Pharsight expects that over the lo
|SOURCE Pharsight Corporation|
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