The adjusted non-GAAP net income for the first quarter of 2007 also excluded amortization of capitalized software costs (See Schedule A attached to this news release — Reconciliation to GAAP). Since this information is not a GAAP measurement of financial performance, there are material limitations to its usefulness on a stand-alone basis, including the lack of comparability of this presentation to the GAAP financial results of other companies. Including the impact of the Troy and Accountis acquisitions, we estimate that amortization expenses for the second quarter of 2008 will be approximately $500,000 and that stock-based compensation expenses will be approximately $800,000. Due to the increase in the annual amortization and stock-based compensation expenses we are reducing our guidance for GAAP earnings per diluted share to a range between $0. Such statements may include, but are not limited to, the expectations related to second-quarter revenues; second-quarter GAAP earnings per share; second-quarter Non-GAAP earnings per share; full-year 2008 revenues; full-year 2008 GAAP earnings per share; and full-year 2008 Non-GAAP earnings per share. read more

Filed in: How To Ask For A Cash Advance