LWSN Lawson Software, Inc. (MM)

Lawson Software, Inc. (LWSN) recently released preliminary results for the fourth quarter of fiscal 2011. Lawson expects to report revenues of $208 - $212 million, up from $197 million reported in fiscal 2010.

Including approximately $2 million of revenues impacted by purchase accounting adjustments, Lawson expects to generate revenues of $210 million - $214 million.

Earnings per share are projected around $0.06 - $0.07. Excluding one-time times, earning per share are forecasted around $0.15 - $0.16.

This includes the addition of revenues impacted by purchase accounting adjustment but excluding $16 million of pre-tax expenses for amortization of acquired intangibles, non-cash stock-based compensation and amortization of purchased maintenance contracts and $4 million of pre-tax operating expenses related to non-cash convertible note interest. 

In late April, Lawson signed a definitive agreement to be acquired by GGC Software Holdings, Inc., an affiliate of Golden Gate Capital and Infor, for about $2 billion. Under the terms of the merger agreement, Lawson will receive $11.25 per share in cash. The transaction is expected to close in the third quarter of 2011.

Lawson’s board of directors, owning approximately 9% of outstanding shares, voted in the favor of the transaction.

Management expects to meet or exceed its original guidance of $130 million of free cash flow in 2011. Management also added if the pending transaction by GGC Software Holdings, Inc., an affiliate of Golden Gate Capital and Infor, closes before the company completes the audit, certain deal-related fees may be recorded for the period ending May 31, 2011.

Shares of Lawson were down 0.09% in after-hours trading to close at $11.17. 

Lawson Software, Inc. (MM) (NASDAQ:LWSN)
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