Keynote Reports Fiscal Q1

Total revenue was $20.7M for Q1 2010, compared to $20.6M for Q1 2009

January 27, 2010

1 Min Read

SAN MATEO, Calif. -- Keynote® Systems (NASDAQ: KEYN), the global leader in on-demand mobile and Internet test & measurement solutions for continuously improving the online experience, reported financial results for its first fiscal quarter ended December 31, 2009.

Umang Gupta, chairman and CEO of Keynote, said: “Heading into the new decade, Keynote customers continue to value the importance of the online and mobile experience. While most of our products generated the revenues we expected during the first quarter, we especially benefited from a seasonal increase in load testing subscriptions and engagements. As a result, we exceeded our revenue and earnings expectations.”

First Quarter 2010 Financial Summary

Revenue for the first quarter of fiscal year 2010 was $20.7 million, compared to $20.6 million in the first quarter of fiscal year 2009. Under generally accepted accounting principles (GAAP), net income for the first quarter of fiscal year 2010 was $981,000, or $0.07 per diluted share, compared to net income of $886,000, or $0.06 per diluted share, for the first quarter of fiscal year 2009.

The non-GAAP net income for the first quarter of fiscal year 2010 was $2.5 million, or $0.17 per diluted share, compared to $2.6 million, or $0.18 per diluted share, for the first quarter of fiscal year 2009. The company defines non-GAAP net income as net income adjusted for provision for income taxes, stock-based compensation expense, and amortization of purchased intangibles less cash taxes from on-going operations. Non-GAAP earnings per share equals non-GAAP net income divided by the diluted weighted average shares outstanding for the period.

Keynote Systems Inc.

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