Saba Software Inc. (SABA) reported GAAP net loss for the first quarter of $2.2 million, compared to a net loss of $2.4 million in the same quarter last year. On a per share basis, GAAP loss per share for the quarter was $0.08, flat with last year quarter.
On a non-GAAP basis, net loss for the first quarter was $23 thousand, in comparison with a loss of $6 thousand in the prior year quarter. Non-GAAP per share came flat with the previous year at a breakeven. On average, four analysts polled by First Call/Thomson Financial expected the company to earn $0.02 per share for the quarter.
Total revenues for the first quarter were $25.30 million, down from $25.45 million in the same quarter last year. Four analysts had consensus revenue estimate of $26.62 million.
Looking ahead, for fiscal year 2009, Saba confirms its prior guidance of anticipated GAAP net earnings per share of about breakeven and non-GAAP net earnings per share of approximately $0.25. Saba now expects fiscal 2009 revenues to be slightly less than prior guidance, primarily as a result of the impact of foreign exchange rates on previous non-US Dollar denominated bookings for offerings that generate Saba's recurring revenue streams and the lower license revenues in the first quarter of fiscal 2009.
Four analysts expect the company to report earnings of $0.24 per share on revenues of $115.79 million for fiscal year 2009.
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