GAITHERSBURG, MD -- (MARKET WIRE) -- 11/08/10 --
BroadSoft, Inc. (NASDAQ: BSFT), the leading global provider of Internet protocol-based, or IP-based, communications services to the telecommunications industry, today announced financial results for the quarter and nine months ended September 30, 2010.
BroadSoft, Inc. (NASDAQ: BSFT), the leading global provider of Internet protocol-based, or IP-based, communications services to the telecommunications industry, today announced financial results for the quarter and nine months ended September 30, 2010.
Financial Highlights For the Third Quarter of 2010
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Total revenue increased to $22.3 million; 22% growth relative to Q3 2009 and 13% growth from Q2 2010.
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License revenue increased to $12.9 million; 27% growth relative to Q3 2009 and 22% growth from Q2 2010.
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Non-GAAP diluted EPS increased to $0.08 per common share; GAAP diluted EPS increased to $0.05 per common share results for the three months ended September 30, 2010
Total revenue rose to a record $22.3 million in the third quarter of 2010, an increase of 22% compared to $18.2 million in the third quarter of 2009 and an increase of 13% compared to $19.8 million in the second quarter of 2010.
Net income for the third quarter of 2010 was $1.2 million, or $0.05 per diluted common share, compared to a net loss of $0.3 million, or $(0.06) per basic and diluted share in the third quarter of 2009. GAAP results for the third quarter of 2010 included $0.8 million of non-cash stock-based compensation expense and $0.2 million of amortization expense related to acquired intangible assets.
On a non-GAAP basis, net income in the third quarter of 2010 was $2.2 million or $0.08 per diluted share, compared to non-GAAP net income of $0.6 million, or $0.03 per diluted share, in the third quarter of 2009. Non-GAAP net income for these periods excludes the impact of non-cash stock-based compensation expense and amortization expense related to acquired intangible assets.
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