Wave Systems Corp. (fka WAVXQ)

[Fullmoon]

hj, look at the bigger picture....

revenues rose 6% to $1,835,000

billings (a non-GAAP measure of demand, which reflects upgrade contracts signed during the period but which may be recognized over future periods) rose 36% to $2,297,000,


deferred Wave's software upgrade sales are being recorded as deferred revenue and recognized generally over a 365-day period. As a result of this treatment and the additional growth in Wave's upgrade sales in Q3, deferred revenue increased 78% or $462,000 to $1,050,000 in Q3 2008