Actuate Reports Third Quarter 2009 Financial Results

http://www.businesswire.com/news/home/20091029006427/en

Posts Record Quarterly BIRT Business of $4.7 Million; Non-GAAP EPS of $0.09 for
the Quarter and Up 65% Year-To-Date
SAN MATEO, Calif.--(Business Wire)--
Actuate Corporation (NASDAQ:ACTU), the people behind BIRT, today announced
financial results for the third quarter of 2009.

Third Quarter 2009 Financial and Operational Highlights:

* Fully diluted non-GAAP EPS of $0.09
* Revenues of $29.4 million
* License revenues of $8.6 million
* Non-GAAP Operating margins of 21.3%
* Total cash, cash equivalents and investments of $70.3 million, after $10
million stock repurchase
* Booked transactions greater than $100,000 with 55 customers
* Closed two transactions with a license component in excess of $1.0 million

"While there is emerging consensus that the global economy is on the mend,
companies remain cautious about their IT spending," said Pete Cittadini,
President and CEO of Actuate. "We continue to focus on our open source and BIRT
strategic initiatives and on growing the adoption of BIRT-related Rich
Information Applications, which we believe create differentiation for Actuate in
the marketplace. We are pleased to see that this quarter marked a record for
BIRT related business, which continues to indicate that our BIRT strategy is
working."

Revenues for the third quarter of 2009 were $29.4 million, compared with $33.7
million in the third quarter of 2008. License revenues for the third quarter of
2009 were $8.6 million, compared with $10.0 million in the year-ago quarter.
Maintenance revenues for the quarter were $19.4 million, compared with $20.4
million reported in the same quarter last year. Professional services revenues
for the third quarter of 2009 totaled $1.4 million, compared with $3.3 million
in the third quarter of 2008.

Operating income, as reported in accordance with U.S. generally accepted
accounting principles (GAAP), was $4.3 million for the third quarter of 2009,
compared with $3.4 million in the third quarter of 2008. Net income for the
third quarter of 2009, as reported in accordance with U.S. generally accepted
accounting principles (GAAP), was $3.1 million, or $0.06 per diluted share,
compared with net income of $3.1 million or $0.05 per diluted share in the third
quarter of 2008.

Cash used in operations was $1.4 million for the third quarter of 2009. Cash,
cash equivalents and investments totaled $70.3 million on September 30, 2009
compared with $58.4 million as of December 31, 2008. For the nine months ended
September 30, 2009, cash flow from operations totaled $11.7 million. During the
third quarter, the company successfully completed a $10 million stock repurchase
program.

Non-GAAP net income for the third quarter of 2009 was $4.4 million, or $0.09 per
diluted share, compared with non-GAAP net income of $5.3 million, or $0.08 per
diluted share in the third quarter of 2008. Non-GAAP operating margin for the
third quarter of 2009 was 21.3%, compared with 20.6% in the same period last
year. For the nine months ended September 30, 2009, non-GAAP operating margins
were 20.3% compared with 15.8% in the same period last year.

Third Quarter 2009 Business Highlights

* Record quarterly BIRT-related revenue of $4.7 million
* Completed 110 BIRT-based transactions
* Launched BIRT Exchange Marketplace in beta, a showcase for applications and
services available to the BIRT community
* Recognized as a top performer by the Aberdeen Group 2009 AXIS Report -
Business Intelligence: Reporting and Analytics.
* Actuate Customer, City of Chicago, named a finalist for the Business
Intelligence Perspectives "Best Practices in Business Intelligence".
* Actuate and Red Hat broaden their strategic alliance; Red Hat is now part of
Actuate`s BIRT Global Partner Connection and Actuate is now an advanced level
member of the JBoss Certified ISV Partner Program.
* Actuate and Infobright announce a high-performance Virtual Machine for
Business Intelligence and Data Warehousing, enabling users to access and
personalize BIRT content.
* Actuate fortifies its commitment to grow the BIRT community with the
appointment of Ray Gans as the first community manager for BIRT Exchange.

During the third quarter, Actuate received significant new and repeat business
from, among others: CIGNA Corporation, Deltek, Inc., Dexia Asset Management,
Eastern Province Municipality (UK), Federal Home Loan Bank of Atlanta, Infor
Global Solutions, MetLife, Inc., Nomura International PLC, Oracle Corporation,
Sircon Corporation, State Street Corporation, U. S. Army Corps of Engineers -
Huntington, U.S. Army Installation Management Command (IMCOM), U.S. Food and
Drug Administration, Wells Fargo & Company and XLSoft Corporation.

Conference Call Information

Actuate will be holding a conference call at 5:00 p.m. Eastern Time, today,
October 29th, 2009, to further discuss these results. The dial-in number for the
call is 1-866-578-5771 (617-213-8055 for international participants) and the
conference identification number is 85889173. The conference call will be
broadcast live on the Investor Relations section of Actuate`s web site at
http://www.actuate.com/investor and will be available as an archived replay
thereafter.

Actuate - the people behind BIRT

Actuate founded and continues to co-lead the Eclipse BIRT open source project.
BIRT is the premier development environment for Rich Information Applications
that present data in compelling and interactive ways via the web on any device.
Actuate and its people are dedicated to making BIRT the best environment for our
customers to develop Web 2.0 applications that drive revenue through higher
customer satisfaction/loyalty and improve operational performance. The people of
Actuate continually participate in and provide resources for the vibrant open
source community that has emerged around BIRT. Anybody can participate in the
BIRT movement by visiting www.birt-exchange.com.

Actuate offers value-add BIRT products and services that speed the development
process and bring additional functionality, interactivity and enterprise
scalability to BIRT-based Rich Information Applications. Actuate has over 4,400
customers globally in a diverse range of business areas including financial
services and the public sector. Founded in 1993, Actuate is headquartered in San
Mateo, California, with offices worldwide. Actuate is listed on NASDAQ under the
symbol ACTU. For more information, visit the company's web site at
www.actuate.com.

Discussion of Non-GAAP Financial Measures

This press release contains financial measures that are not calculated in
accordance with U.S. generally accepted accounting principles (GAAP). Actuate
management evaluates and makes operating decisions using various performance
measures. In addition to our GAAP results, we also consider adjusted net income,
which we refer to as non-GAAP net income. We further consider various components
of non-GAAP net income such as non-GAAP gross margin and non-GAAP operating
expense. Non-GAAP net income is generally based on the revenues of our product,
maintenance and services business operations and the costs of those operations,
such as cost of revenue, research and development, sales and marketing and
general and administrative expenses, that management considers in evaluating our
ongoing core operating performance. Non-GAAP net income consists of net income
excluding amortization of intangible assets, restructuring charges, equity
plan-related compensation expenses, operating expenses related to idle
facilities, one-time professional services fees and other charges and gains
which management does not consider reflective of our core operating business.
Intangible assets consist primarily of purchased technology, trade names,
customer relationships, employment agreements and other intangible assets issued
in connection with acquisitions. Restructuring charges consist of severance and
benefits, excess facilities and asset-related charges and include strategic
reallocations or reductions of personnel resources. Equity plan-related
compensation expenses represent the fair value of all share-based payments to
employees, including grants of employee stock options, in accordance with the
authoritative guidance issued by the Financial Accounting Standards Boards
("FASB"). For purposes of comparability across other periods and against other
companies in our industry, non-GAAP net income is adjusted by the amount of
additional taxes or tax benefit that the Company would accrue using a normalized
effective tax rate applied to the non-GAAP results. Our non-GAAP earnings per
share calculation also includes an adjustment to total outstanding shares to
reflect what the share amount would have been if it were calculated using
non-GAAP results.

Non-GAAP net income is a supplemental measure of our performance that is not
required by, nor presented in accordance with, GAAP. Moreover, it should not be
considered as an alternative to net income, operating income, or any other
performance measure derived in accordance with GAAP, or as an alternative to
cash flow from operating activities or as a measure of our liquidity. We present
non-GAAP net income because we consider it an important supplemental measure of
our performance.

Management excludes from non-GAAP net income certain recurring items to
facilitate its review of the comparability of the Company's core operating
performance on a period-to-period basis because such items are not related to
the Company's ongoing core operating performance as viewed by management.
Management uses this view of its operating performance for purposes of
comparison with its business plan and individual operating budgets and
allocations of resources. Additionally, when evaluating potential acquisitions,
management excludes the items described above from its consideration of target
performance and valuation.

The Company believes that, in general, these items possess one or more of the
following characteristics: their magnitude and timing is largely outside of the
Company's control; they are unrelated to the ongoing operation of the business
in the ordinary course; they are unusual and the Company does not expect them to
occur in the ordinary course of business; or they are non-operational, or
non-cash expenses involving stock option grants.

The Company believes that the presentation of these non-GAAP financial measures
is warranted for several reasons:

1) Such non-GAAP financial measures provide an additional analytical tool for
understanding the Company's financial performance by excluding the impact of
items that may obscure trends in the core operating performance of the business;

2) Since the Company has historically reported non-GAAP results to the
investment community, the Company believes the inclusion of non-GAAP numbers
provides consistency and enhances investors' ability to compare the Company's
performance across financial reporting periods;

3) These non-GAAP financial measures are employed by the Company's management in
its own evaluation of performance and are utilized in financial and operational
decision making processes, such as budget planning and forecasting;

4) These non-GAAP financial measures facilitate comparisons to the operating
results of other companies in our industry, which use similar financial measures
to supplement their GAAP results, thus enhancing the perspective of investors
who wish to utilize such comparisons in their analysis of the Company's
performance.

Set forth below are additional reasons why specific items are excluded from the
Company's non-GAAP financial measures:

a) Amortization charges for purchased technology and other intangible assets are
excluded because they are inconsistent in amount and frequency and are
significantly impacted by the timing and magnitude of the Company's acquisition
transactions. We analyze and measure our operating results without these charges
when evaluating our core performance. Generally, the impact of these charges to
the Company's net income tends to diminish over time following an acquisition.

b) While stock-based compensation calculated in accordance with the
authoritative guidance issued by the FASB constitutes an ongoing and recurring
expense of the Company, it is not an expense that typically requires or will
require cash settlement by the Company. We therefore exclude these charges for
purposes of evaluating our core performance as well as with respect to
evaluating any potential acquisition.

c) Restructuring charges are primarily related to severance costs and/or the
disposition of excess facilities driven by modifications of business strategy.
These costs are excluded because they are inherently variable in size, and are
not specifically included in the Company's annual operating plan and related
budget due to the rapidly changing facts and circumstances typically associated
with such modifications of business strategy.

d) The Company incurred professional services fees related to considerations
regarding strategic alternatives. These costs are excluded because the charges
are unrelated to the ongoing operation of the business in the ordinary course.
Because these costs are unrelated to the Company`s core operations, they are not
included in the Company`s annual operating plan. We analyze and measure our
operating results without these charges when evaluating our core performance.

e) Operating expenses related to idle facilities are excluded because the
charges relate to facilities that have been abandoned and therefore the charges
are unrelated to the ongoing operation of the business in the ordinary course.
Because these costs are unrelated to the Company`s core operations, they are not
included in the Company`s annual operating plan.

f) Income tax expense is adjusted by the amount of additional expense or benefit
that we would accrue if we used non-GAAP results instead of GAAP results in the
calculation of our tax liability, taking into consideration the Company's
long-term tax structure. Starting in the quarter ended March 31, 2009, the
Company began to use a normalized effective tax rate of 20%. Prior to March 31,
2009 a rate of 30% was used. This item is excluded because the rate remains
subject to change based on several factors, including variations over time in
the geographic business mix and statutory tax rates.

In the future, the Company expects to continue reporting non-GAAP financial
measures excluding items described above and the Company expects to continue to
incur expenses similar to the non-GAAP adjustments described above. Accordingly,
exclusion of these and other similar items in our non-GAAP presentation should
not be construed as an inference that these costs are unusual, infrequent or
non-recurring.

As stated above, the Company presents non-GAAP financial measures because it
considers them to be important supplemental measures of performance. However,
non-GAAP financial measures have limitations as an analytical tool and should
not be considered in isolation or as a substitute for the Company's GAAP
results. In the future, the Company expects to incur expenses similar to the
non-GAAP adjustments described above and expects to continue reporting non-GAAP
financial measures excluding such items. Some of the limitations in relying on
non-GAAP financial measures are:

* Amortization of intangibles, though not directly affecting our current cash
position, represent the loss in value as the technology in our industry evolves,
is advanced or is replaced over time. The expense associated with this loss in
value is not included in the non-GAAP net income presentation and therefore does
not reflect the full economic effect of the ongoing cost of maintaining our
current technological position in our competitive industry, which is addressed
through our research and development program.
* The Company may engage in acquisition transactions in the future. Merger and
acquisition related charges may therefore continue to be incurred and should not
be viewed as non-recurring.
* The Company's stock option and stock purchase plans are important components
of our incentive compensation arrangements and will be reflected as expenses in
our GAAP results for the foreseeable future under the FASB's authoritative
guidance on stock-based compensation expense.
* The Company's income tax expense will be ultimately based on its GAAP taxable
income and actual tax rates in effect, which may differ significantly from the
20% rate assumed in our non-GAAP presentation.
* Other companies, including other companies in our industry, may calculate
non-GAAP financial measures differently than we do, limiting their usefulness as
a comparative measure.

Pursuant to the requirements of SEC Regulation G, a detailed reconciliation
between the Company's GAAP and non-GAAP financial results is provided in this
press release and is available in the investor relations section of the
Company's web site at http://www.actuate.com/investor. Investors are advised to
carefully review and consider this information strictly as a supplement to the
GAAP results that are contained in this press release and in the Company's SEC
filings.

Cautionary Note Regarding Forward Looking Statements: The statements contained
in this press release that are not purely historical are forward looking
statements within the meaning of Section 21E of the Securities Exchange Act of
1934.These include statements regarding Actuate`s expectations, beliefs, hopes,
intentions or strategies regarding the future.All such forward-looking
statements are based upon information available to Actuate as of the date
hereof, and Actuate disclaims any obligation to update or revise any such
forward-looking statements based on changes in expectations or the circumstances
or conditions on which such expectations may be based.Actual results could
differ materially from Actuate`s current expectations.Factors that could cause
or contribute to such differences include, but are not limited to, the general
spending environment for information technology products and services in general
and Rich Internet Application software in particular, quarterly fluctuations in
our revenues and other operating results, our ability to expand our
international operations, our ability to successfully compete against current
and future competitors, the impact of future acquisitions (including the
performancesoft, Inc. acquisition) on the Company`s financial and/or operating
condition, the ability to increase revenues through our indirect distribution
channels, general economic and geopolitical uncertainties and other risk factors
that are discussed in Actuate`s Securities and Exchange Commission filings,
specifically Actuate 2008 Annual Report on Form 10-K filed on March 12, 2009.

Copyright © 2009 Actuate Corporation. All rights reserved. Actuate and the
Actuate logo are registered trademarks of Actuate Corporation and/or its
affiliates in the U.S. and certain other countries. All other brands, names or
trademarks mentioned may be trademarks of their respective owners.

ACTUATE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)

September 30, December 31,
2009 2008

ASSETS
Current assets:
Cash, cash equivalents and short-term investments $ 70,274 $ 42,050
Accounts receivable, net 20,368 28,017
Other current assets 7,982 6,620
Total current assets 98,624 76,687
Property and equipment, net 4,135 4,729
Goodwill and other intangibles, net 37,239 37,914
Investments - 16,391
Other assets 14,829 14,791
$ 154,827 $ 150,512

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 819 $ 2,067
Restructuring liabilities 2,774 3,206
Accrued compensation 4,349 4,514
Other accrued liabilities 5,158 5,299
Deferred revenue 35,937 40,900
Total current liabilities 49,037 55,986

Long term liabilities:
Notes payable 30,000 30,000
Other deferred liabilities 852 1,054
Deferred revenue 1,614 2,472
Tax liabilities 776 1,660
Restructuring liabilities 884 3,092
Total long term liabilities 34,126 38,278

Stockholders' equity & non-controlling interest 71,664 56,248
$ 154,827 $ 150,512

ACTUATE CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)

Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
Revenues:
License fees $ 8,620 $ 10,021 $ 25,907 $ 29,920
Maintenance 19,340 20,406 56,889 56,791
Professional services 1,391 3,254 5,352 11,091
Total revenues 29,351 33,681 88,148 97,802

Costs and expenses:
Cost of license fees 267 350 703 1,066
Cost of services 4,185 5,299 13,718 17,861
Sales and marketing 10,231 13,168 31,433 39,982
Research and development 4,998 5,459 15,256 16,860
General and administrative 5,085 5,053 14,717 14,457
Amortization of other intangibles 170 237 510 711
Restructuring charges 129 672 240 1,075
Total costs and expenses 25,065 30,238 76,577 92,012
Income from operations 4,286 3,443 11,571 5,790
Interest income and other income/(expense), net (405 ) 686 179 764
Interest expense (347 ) (3 ) (1,057 ) (3 )
Income before income taxes 3,534 4,126 10,693 6,551
Provision (benefit) for income taxes 395 1,021 1,951 (2,356 )
Net income $ 3,139 $ 3,105 $ 8,742 $ 8,907
Basic net income per share $ 0.07 $ 0.05 $ 0.19 $ 0.15
Shares used in basic per share calculation. 45,580 60,387 45,026 60,505
Diluted net income per share $ 0.06 $ 0.05 $ 0.18 $ 0.13
Shares used in diluted per share calculation 50,484 65,397 49,235 66,075

ACTUATE CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)

Nine Months Ended
September 30,
Operating activities 2009 2008
Net income $ 8,742 $ 8,907
Adjustments to reconcile net income to net cash from operating activities:
Stock based compensation expense related to stock options and employee stock purchase plan 5,367 7,091
Amortization of other purchased intangibles 675 1,146
Amortization of debt issuance cost 210 -
Depreciation and amortization of property and equipment 1,643 1,740
Net operating loss utilizations (adjustments) related to prior acquisitions - (228 )
Restructuring charges - (0 )
Other-than-temporary impairment/(gain) on Auction Rate Securities (ARS) (678 ) -
Loss on the fair value of put option 607 -
Accretion/amortization on short-term debt securities 118 218
Change in valuation allowance on deferred tax assets (575 ) 85
Changes in operating assets and liabilities:
Accounts receivable, net of allowance 7,649 16,393
Other current assets (314 ) 829
Accounts payable (1,248 ) (1,167 )
Accrued compensation (164 ) (2,170 )
Other accrued liabilities 130 (1,654 )
Deferred tax assets 115 51
Income tax receivable (1,044 ) (2,206 )
Income tax payable (884 ) -
Other liabilities (202 ) (124 )
Restructuring liabilities (2,640 ) (1,817 )
Deferred revenue (5,821 ) (2,649 )
Net cash provided by operating activities 11,686 24,445

Investing activities
Purchases of property and equipment (1,048 ) (1,672 )
Release of restricted cash 229 -
Proceeds from maturity of investments 13,706 53,418
Purchases of short-term investments (22,243 ) (43,385 )
Change in other current and non-current assets (61 ) -
Net cash provided by (used in) investing activities (9,417 ) 8,361

Financing activities
Tax benefit from exercise of stock options 2,649 -
Proceeds from issuance of common stock 7,906 4,932
Stock repurchases (10,039 ) (12,675 )
Cost of treasury stock (258 ) -
Net cash provided by (used in) financing activities 258 (7,743 )
Net increase in cash and cash equivalents 2,527 25,063
Effect of exchange rate on cash 730 (497 )
Cash and cash equivalents at the beginning of the period 24,772 21,468
Cash and cash equivalents at the end of the period $ 28,029 $ 46,034

ACTUATE CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(in thousands, except per share data)
(unaudited)

Three Months Ended Nine Months Ended
September 30, (a) September 30, (a)
2009 2008 Notes 2009 2008 Notes
GAAP income before income taxes $ 3,534 $ 4,126 $ 10,693 $ 6,551
Non-GAAP adjustments:
Amortization of purchased technology 55 37 (b) 165 110 (b)
Amortization of other intangibles 170 237 (c) 510 711 (c)
Stock compensation expense under FAS123R 1,604 2,080 (d) 5,367 7,091 (d)
Restructuring charges 129 672 (e) 240 1,075 (e)
One-time professional services fees - 455 (f) - 483 (f)
Operating expenses related to idle facilities - - - 306 (g)
Non-GAAP income before income taxes 5,492 7,607 16,975 16,327
Non-GAAP tax provision 1,098 2,282 (h) 3,395 4,898 (h)
Non-GAAP net income 4,394 5,325 13,580 11,429
Basic non-GAAP net income per share $ 0.10 $ 0.09 $ 0.30 $ 0.19
Shares used in basic per share calculation 45,580 60,387 (i) 45,026 60,505 (i)
Diluted non-GAAP net income per share $ 0.09 $ 0.08 $ 0.28 $ 0.17
Shares used in diluted per share calculation 51,175 65,523 (i) 49,293 66,275 (i)

(a) This table contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (GAAP). Such measures are intended to serve as a supplement to the GAAP results presented elsewhere in this press release, and should not be considered in isolation or as a substitute for such GAAP results. See the section entitled Discussion of Non-GAAP Financial Measures in this press release for additional information regarding: the manner in which management uses these non
-GAAP financial measures; the economic substance behind management's decision to use such measures; the material limitations associated with use of these non-GAAP financial measures as compared to the use of the most directly comparable GAAP financial measures; the manner in which management compensates for these limitations when using these non-GAAP financial measures; and the substantive reasons why management believes these non-GAAP financial measures provide useful information to investors.

(b) Amortization of purchased technology acquired in the Performancesoft acquisition transaction in January of fiscal year 2006. Purchased technology is amortized over the estimated life of the underlying asset.

(c) Amortization of other intangibles includes identifiable intangible assets including trade names, employment agreements and customer relationships acquired through various acquisition transactions. Other identified intangibles are amortized over the estimated remaining life of the underlying intangibles.

(d) Actuate accounts for stock-based compensation expense under the fair value method. Actuate adopted the authoritative guidance issued by the Financial Accounting Standards Board ("FASB") related to the measurement and disclosure of stock-based compensation expense. Stock-based compensation expense is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period. Actuate is presenting a non-GAAP adjusted net income per diluted share
financial measure which excludes stock based compensation expense for all periods presented. For the three months ended September 30, 2009, stock-based expense included approximately (in thousands): $191, $402, $258, and $753, related to cost of services revenues, sales and marketing expense, research and development expense and general and administrative expense, respectively.

(e) The restructuring expense for the third quarter of 2009 consist of severance payments, payroll taxes and extended medical benefits related to a reduction-in-force that was implemented in July 2009. Included for the 2009 year are charges related to prior facility closures in North America. These charges were based on actual and estimated costs incurred including estimates of sublease income on portions of our idle facilities that we periodically update based on market conditions and in accordance with
our restructuring plans. The restructuring expense for the third quarter of 2008 consist primarily of severance payments, payroll taxes and extended medical benefits related to a reduction-in-force that was implemented in August 2008. Included for the 2008 year are charges primarily related to the closure of various office facilities in North America and costs related to the termination of European employees in connection with the previous closure of one of our European operations.

(f) During the quarter, the Company incurred professional fees related to considerations regarding strategic alternatives. These costs are excluded because the charges are unrelated to the ongoing operation of the business in the ordinary course. Because these costs are unrelated to the Company's core operations, they are not included in the Company's annual operating plan. We analyze and measure our operating results without these charges when evaluating our core performance.

(g) This relates to a one-time operating expense charge related to our former headquarters facility in South San Francisco, California. The facility was abandoned in September of 2007, when the Company moved to its new headquarters in San Mateo, California.

(h) Income tax expense is adjusted by the amount of additional expense or benefit that we would accrue if we used non-GAAP results instead of GAAP results in the calculation of our tax liability, taking into consideration the company's long-term tax structure. The Company uses a normalized effective tax rate of 20%. Prior to fiscal 2009, the Company used a normalized effective rate of 30%. This item is excluded because the rate remains subject to change based on several factors, including variations over
time in the geographic business mix and statutory tax rates.

(i) Shares used in calculating diluted earnings per share have been adjusted to reflect what the share amounts would have been if they were calculated using non-GAAP results.

Actuate Corporation
Karen Haus, 650-645-3555
ir@actuate.com

Copyright Business Wire 2009