Phoenix Technologies Reports Fiscal Third Quarter Financial Results

Phoenix Technologies Ltd. PTEC today announced financial results for the fiscal 2010 third quarter ended June 30, 2010. Third Quarter Fiscal 2010 Financial Highlights: Total revenues from continuing operations of $13.7 million, compared with $16.4 million for the third quarter of fiscal 2009. GAAP net income from continuing operations was $10.4 million, or $0.30 per share, which included a $12.4 million net gain on divestiture of products and services related to the strategic sale of Phoenix's non-core assets. This compares with a GAAP net loss from continuing operations of ($5.5) million, or ($0.19) loss per share in the third quarter of fiscal 2009. Total operating expenses for the third quarter of fiscal 2010 decreased 27% from $17.5 million to $12.9 million, compared with the third quarter of fiscal 2009. Cash and cash equivalents balance of $39.9 million as of June 30, 2010, compared with $35.1 million as of September 30, 2009 and $25.3 million as of March 31, 2010.