Lionbridge Reports Q3 Revenue of $99.2 Million, GAAP EPS of ($0.07) and Non-GAAP Earnings of $0.04

Lionbridge Technologies, Inc. LIOX today announced financial results for the quarter ended September 30, 2010.  Financial and business highlights for the third quarter include:

• Revenue of $99.2 million, an increase of $1.4 million from the quarter ended September 30, 2009, reflecting a negative currency impact and slower release cycles from top customers.  In constant currency with Q3 of 2009, the Company's revenue grew $4.3 million year-on-year.
• For the nine months ended September 30, 2010, the Company delivered revenue of $304.9 million, an increase of $20.6 million, or 7% from the same period of 2009.  In constant currency with the first nine months of 2009, the Company's revenue grew $22.9 million or 8% year-on-year.
• Q3 GAAP net loss of $3.8 million, or ($0.07) per share based on 56.8 million basic common shares outstanding.  GAAP net loss includes restructuring expense of $4.0 million or $0.07 per share.  
• Q3 Non-GAAP earnings of $2.4 million or $0.04 per share.  The Company defines non-GAAP earnings as GAAP net income excluding merger, restructuring and related costs, stock-based compensation and amortization of acquisition-related intangible assets.  Please see the section of this release entitled "Non-GAAP Financial Measures" and the attached table for details and reconciliations of this measure to the comparable GAAP measure.  
• Cash flow from operations of $800,000 during the quarter.  
• The Company continues to be net cash positive with an ending cash balance of $29.5 million and long-term debt of $24.7 million as of September 30, 2010.
• Lionbridge secured several new client programs during the quarter, including contracts with a market-leading pharmaceutical company, a global provider of IT management software and a mobile cell phone provider.  The Company also participated in the launch of one of the most visible online store launches in China for a global leader in personal computing and digital media.