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DELTEK ENDS YEAR ON UPTICK

Even with revenue down, Deltek was happy with results for 2009 as the fourth quarter showed signs that some of its markets were awakening. The company, whose software is designed for project-based clients, closed out the year on December 31 with net income of $7.2 million, up 19.6 percent from $6.1 million a year earlier.
Revenue for the final period was $70.3 million, a drop of 1.9 percent from $71.9 million in the prior year's corresponding period. However, total revenue was up 9.7 percent from the third quarter and fourth-quarter license revenue rose 51 percent from the preceding quarter. In an earnings Webcast, CEO Kevin Parker said results were driven by an increasing sense of confidence from prospects and customers. The government contracting market did well and Parker commented that in the United States the architectural and engineering market "is showing some signs of potential improvement. ... The overall customer sentiment continues to be cautious." The company was happy that new customers accounted for 26 percent of fourth-quarter revenue and that international revenue, which comprised 14 percent of the total, were up by 50 percent from the third quarter. For the year, earnings dropped to $21.4 million, down 9 percent from $23.5 million. Revenue for the recently ended year was $265.8 million, a drop of 8.1 percent from $289.4 million for 2008. Parker, who usually mentions the contributions made by the channel, did not discuss its performance.
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