The company's 2010 fiscal year ends 31 January 2010, and for the first quarter, which ended April 30, 2009, it reported total revenue of $76.4 million. This represents a six- percent decrease over the $81.6 million reported in the first quarter of its last fiscal year, which ended 31 January 2009. Revenue for the first quarter was negatively impacted by approximately $5.2 million due to the change in foreign-exchange rates during the first quarter as compared to the foreign exchange rates during the first quarter of fiscal 2009.

On the basis of the "US generally accepted accounting principles" (US GAAP), the company's net income was $18.8 million, or $0.19 per basic and diluted share, for the first quarter of fiscal 2010 as compared to net income of $7.1 million, or $0.07 per basic and $0.06 per diluted share, for the first quarter of fiscal 2009.

"We are pleased that our fiscal 2010 first quarter results came in ahead of the EPS range we forecasted in March 2009 for this period. Our positive start in the first quarter of fiscal 2010 reflects our focus on EPS, cash flow, and adjusted EBITDA targets during these challenging economic times", said Chuck Moran, President and Chief Executive Officer.

"For fiscal 2010, in response to the cautious customer spending environment, we are moving forward with our plan to add sales resources by hiring more than twenty field- sales people and at least five additional tele-sales people. These additional resources will increase our cost structure in subsequent quarters as compared to the first quarter due to the fact that our hiring is not yet completed, and a full quarter cost impact was not recognized in the first quarter", commented Moran.

As a result of reported revenues for the fiscal 2009 first quarter, the company now anticipates annual revenues to be in the range of $300 to $310 million as compared to the annual revenue range of $300 million to $312 million as set forth in its press release.