Oct. 19, 2009 (PR Newswire) --
COLUMBIA, Md., Oct. 19 Integral Systems, Inc. (Nasdaq: ISYS) today reaffirms fiscal year 2009 (FY 2009) guidance and provides initial earnings guidance for fiscal year 2010 (FY 2010), which began on September 28, 2009.
Management reaffirms its previous FY 2009 guidance for full-year earnings per share (EPS) of approximately $0.15 per diluted share, in line with previous guidance. Full FY 2009 earnings results will be released in early December 2009.
FY 2010 results are anticipated to be significantly improved over FY 2009. For the FY 2010, the Company provides the following guidance:
-- Revenue: $170.0M - $174.0M
-- Gross Margin: 35% - 37%
-- Earnings Per Share (diluted): $0.35 - $0.40
-- EBITDA: $20M - $25M
Earnings per share (EPS) of $0.35 - $0.40 versus the $0.15 of fiscal year 2009 reflect an increase in revenue due to higher gross margin product sales, and lower selling, general, and administrative (SG&A) costs as a percent of sales. Annual revenue is estimated to increase between 5 and 7 percent above FY 2009 levels. Earnings will benefit from ongoing efforts to trim operating expenses and an elimination of a number of non-recurring and one-time expenses recorded in 2009.
"FY 2010 is off to a solid start with customer announcements of new or expanded contract awards totaling over $50 million," said Paul Casner, President and Chief Executive Officer of Integral Systems. "These contract announcements extend the period of performance on several of our critical government contracts into 2013. Further, we are confident that demand for our products and services have stabilized in our core markets. Based on our growth strategy, we anticipate that in FY 2010 we will realize higher revenue and operating income across the enterprise."
Integral Systems also announces that it has initiated plans to launch a new line of business to offer global satellite communications (SATCOM) network operations management services to address the growing needs of satellite operators, resellers, users, and regulators of satellite and satellite-interfaced networks worldwide. This new line of business leverages Integral Systems' current product offerings and is anticipated to provide a significant new revenue stream in future years.
