Deltek Inc (PROJ)

Earnings Per Share Expected to be $0.05 to $0.06

HERNDON, Va. – April 16, 2009 – Deltek, Inc. (Nasdaq: PROJ), the leading provider of enterprise applications software for project-focused businesses, today announced preliminary financial results for its first quarter ended March 31, 2009.

For the first quarter, Deltek expects to report license revenue of approximately $11 million, compared to guidance of $14 to $15 million.

Maintenance revenue is expected to be approximately $31 million as a result of continued high levels of renewals and low customer attrition. Due to the impact of the BearingPoint bankruptcy and lower training and implementation services and reimbursable expenses, consulting services revenue is expected to be approximately $20 million.

Total revenue for Q1 2009 is expected to be approximately $62 million, compared to guidance of $67 to $68 million.

GAAP EPS is expected to be $0.05 to $0.06 per diluted share, compared to guidance of $0.06 to $0.07 per diluted share. The impact of the BearingPoint bankruptcy had the effect of lowering EPS by approximately $0.01.

Non-GAAP EPS is expected to be $0.12 to $0.13 per diluted share, compared to guidance of $0.13 to $0.14 per diluted share. Q1 non-GAAP EPS results exclude approximately $2.1 million of pre-tax expenses related to stock-based compensation, approximately $1.3 million for the amortization of acquired intangible assets and a restructuring charge of approximately $1.5 million.

In Q1, Deltek expects to report operating cash flow of approximately $17 million and an ending cash balance of approximately $43 million. During Q1, Deltek also reduced its indebtedness by $10.2 million.

“While our Q1 revenues were below our expectations as many of our customers continue to be impacted by the challenging economic environment, our continuing focus on operational improvements and recent cost savings initiatives enabled us to deliver a healthy bottom line and strong cash flow from operations,” said Kevin Parker, president and CEO of Deltek.

“While our architecture and engineering customers continue to be impacted in the short-term by the economic environment, we were able to achieve the same level of sales of our core GCS and Costpoint family of products to government contractor customers as compared to the prior year. Although our customers believe their businesses will continue to be impacted by the economy, they are encouraged by their future prospects and the anticipated impact of the government’s economic stimulus package.”