Phoenix Technologies, Ltd. (NASDAQ: PTEC), a global market leader in system firmware that provides the most secure foundation for today’s computing environments, recently announced the company’s results from the third quarter, stating that quarterly revenues posted a 53 percent year-over-year increase to $19.3 million, compared with $12.6 million in the third quarter of fiscal year 2007.

Non-GAAP basis net income for Phoenix Technologies totaled $1.3 million or $0.04 per diluted share, compared with a non-GAAP net loss of $0.3 million or a loss of $0.01 per diluted share during the third quarter of 2007. In spite of increased spending, the company achieved positive cash flow from operations. Gross margin expanded to 86 percent of revenues, compared with 81 percent during the third quarter of fiscal year 2007.

Due to the strong results during the third quarter, Phoenix Technologies’ management team raised the company’s full-year revenue guidance from $74 million to $75.2 million. The company expects non-GAAP earnings of approximately 10 percent of revenues. Additionally, management expects to maintain current pro forma profits through the next fiscal year, with the anticipation of building bottom line profit margins in 2009. The company’s goal is to achieve 15 percent after-tax profit rates by the end of 2011.

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