Keynote Reports Steady First Quarter

US-headquartered mobile and online testing specialist Keynote Systems has reported revenue of $20.7m for the first quarter of fiscal year 2010 (2009: $20.6m), and net income of $981k (2009: $886k).

Keynote taps into more than 3,000 computers and mobile devices in over 100 countries around the world, including real and simulated devices, user-provided SIMs and wireless modems. Its service is used to monitor the delivery of content from the subscriber's perspective, and can provide competitor comparisons for benchmarking purposes.

For the first quarter, the firm's adjusted non-GAAP net income was $2.5m, compared to $2.6m for the first quarter of fiscal year 2009.

Cash used for operating expenses for the period was $96k, compared to the $2.0m spent in Q1 2009. Earnings before interest, taxes, depreciation and amortization (EBITDA), was $3.8m (18% of revenue) in the first quarter of 2010, against $3.6m (17% of revenue) EBITDA for the same period last year.

'While most of our products generated the revenues we expected during the first quarter, we especially benefited from a seasonal increase in load testing subscriptions and engagements,' Chairman and CEO Umang Gupta explained. 'As a result, we exceeded our revenue and earnings expectations.'

For the second quarter of fiscal year 2010, the company is expecting total revenue of between $18.9m and $19.4m.

The firm is online at www.keynote.com .