Business software maker Lawson Software has said preliminary generally accepted accounting principles (GAAP) revenues for its fourth quarter of fiscal year 2011 are expected to be in the range of $208m to $212m, up from the revenues of $197m in same quarter previous fiscal.
The company expects that it will meet or exceed its original guidance of $130m of free cash flow in fiscal year 2011 due to strong ending cash and cash equivalents balance of approximately $505m, of which more than $300m was available in the US.
Non-GAAP revenues in the quarter ending 31 May 2011 are anticipated to be in the range of $210m to $214m, increased compared to fourth quarter of fiscal year 2010 non-GAAP revenues of $200m.
Preliminary fourth quarter non-GAAP revenues include the addition of approximately $2m of revenues impacted by purchase accounting adjustments.
Lawson Software president and chief executive officer Harry Debes said they achieved nearly 20% non-GAAP operating margin in the fourth quarter and ended the fiscal year with cash and cash equivalents exceeding $500m.
