CDC Software Reports 14 Percent Increase in Application Sales and Recurring Revenue for the Quarter Ended March 31, 2010 Compared To Same Period Last Year.

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CDC Software Reports 14 Percent Increase in Application Sales and Recurring Revenue for the Quarter Ended March 31, 2010 Compared To Same Period Last Year.

SHANGHAI & ATLANTA -- CDC Software Corporation (NASDAQ: CDCS), a hybrid enterprise software provider of on-premise and cloud deployments, today announced financial results for the quarter ended March 31, 2010. For the first quarter of 2010, Non-GAAP revenue(a) was $51.7 million and Non-GAAP net income(a) was $8.0 million, or $0.28 in Non-GAAP earnings per share(a), compared to Non-GAAP revenue of $50.4 million and Non-GAAP net income of $8.3 million, or $0.29 in Non-GAAP earnings per share in the first quarter of 2009. CDC Software's balance sheet continued to be solid with cash on hand of $44.5 million at March 31, 2010.

First quarter 2010 application sales, which is comprised of license revenue plus new Total Contract Value (TCV) for Software-as-a-Service (SaaS) sales secured, increased 14 percent to $8.2 million during the first quarter of 2010, from $7.2 million in the first quarter of 2009. Total contracted and unrecognized recurring revenue at the end of the first quarter 2010 was $52.5 million compared to $49.2 million at end of the fourth quarter of 2009. First quarter 2010 license revenue was $7.9 million, and TCV for new SaaS contracts secured in the quarter was $0.3 million. Also the number of enterprise and SaaS deals in the...

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