CDCS $5.59 daily and weekly charts High Rated Stocks down 25%-50% in 2010 -- by AugustaFriends 6 Sep 10.
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SHANGHAI, China & ATLANTA--(BUSINESS WIRE)--CDC Software Corporation (NASDAQ: CDCS - News), a global provider of hybrid enterprise software solutions and services, announced today, based on preliminary financial estimates and projections, as well as the recent sales momentum the company has seen which include two recent seven figure sales deals, the company reaffirms its guidance provided on July 29, 2010. CDC Software expects 2010 Non-GAAP earnings per share(a) to be in a range of $1.02 to $1.08 per share, and 2010 Non-GAAP revenue(a) to be in the range of $215 million to $225 million.
These 2010 estimates are supported by the company’s total contracted backlog (TCB) of over $140 million. CDC Software believes that TCB provides improved visibility into revenue performance for future periods.
In addition, the company is providing an update on its share buyback program. Since September 2009, the company, management and certain affiliates of the company have purchased an aggregate total amount of approximately 788,018 shares at an average price of $9.34 per share. Of that total, the company has purchased 737,299 shares and management, including the CEO, has purchased 50,719 shares. The company and its CEO continue to repurchase its shares in the open market through a 10b5-1 trading plan.
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