Pervasive Software (PVSW)

Revenue was $13.0 million and $10.8 million in the third fiscal quarter ending March 31, 2009 and 2008, respectively. The company closed one relatively large transaction with a database customer representing approximately $3.0 million in revenue during the quarter ending March 31, 2009.

Net income was $1.9 million and $0.9 million in the third fiscal quarter ending March 31, 2009 and 2008, respectively. Net income in the third fiscal quarter included an increase in revenue of $2.3 million, an increase in operating expense of $0.8 million, reduced interest income of $0.2 million, and an increase in our income tax provision of $0.3 million for a combined net increase of net income of $1.0 million for the third quarter of fiscal year 2009.

Operating income, a financial measure before interest income and taxes, was $2.6 million and $1.1 million in the third fiscal quarter ending March 31, 2009 and 2008, respectively.

We continued to generate positive cash flow from operations with $2.1 and $2.0 million in the third fiscal quarter ending March 31, 2009 and 2008, respectively. We ended the third quarter of fiscal year 2009 with $44.0 million in cash and marketable securities.

We acquired 733,079 shares of our common stock, at a cost of approximately $2.7 million in the third fiscal quarter ending March 31, 2009. Issued and outstanding shares of common stock as of March 31, 2009 totaled approximately 18.2 million.

Revenue was $11.2 million and $10.3 million in the second fiscal quarter ending December 31, 2008 and 2007, respectively.

Net income was $1.2 million and $0.7 million in the second fiscal quarter ending December 31, 2008 and 2007, respectively. Net income in the second fiscal quarter included an increase in revenue of $0.8 million, an increase in operating expense of $0.2 million, reduced interest income of $0.3 million, and a decrease in our income tax provision of $0.1 million for a combined net increase of net income of $0.5 million for the second quarter of fiscal year 2009.

Operating income, a financial measure before interest income and taxes, was $1.1 million and $0.4 million in the second fiscal quarter ending December 31, 2008 and 2007, respectively.

We continued to generate positive cash flow from operations with $1.0 and $1.3 million in the second fiscal quarter ending December 31, 2008 and 2007, respectively. We ended the second quarter of fiscal year 2009 with $44.9 million in cash and marketable securities.

We acquired 768,000 shares of our common stock, at a cost of approximately $3.1 million in the second fiscal quarter ending December 31, 2008. Issued and outstanding shares of common stock as of December 31, 2008 totaled approximately 18.3 million.