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DELTEK SPENDS ITS GAINS
Deltek had a 23-percent increase in revenue for the fourth quarter ended December 31. But the company decided to spend money across all major expense categories and a 70-percent increase in operating expenses produced a net loss of $7.7 million, compared to net income of $7.2 million a year earlier.
Revenue for the most recently ended quarter was $86.6 million, up from $70.3 million in last year’s corresponding period. However, the company had $24.36 million in sales and marketing costs, almost double the prior year’s $12.2 million. R&D spending of $16.1 million was up 46.4 percent from just under $11 million a year earlier. General and administrative spending reached $15.9 million, up 67.9 percent from $9.5 million. For the year, the Reston, Va.-based software vendor lost $4.8 million, compared to $21.4 million in net income for 2009. Revenue for 2010 was $280.1 million, a 5.3-percent increase from $265.8 million the prior year. In an earnings webcast, CEO Kevin Parker said revenue from the professional services market, the combination of Maconomy and Vision, was up 26 percent over the prior year. He also said the architecture and engineering market has recovered much more quickly outside the United States.
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