Deltek strengthens its position in the project software market...

Bloor research has a very upbeat analysis of Deltek post-IPO:

In November 2007, Deltek completed its Initial Public Offering (IPO), pricing its shares at $18. Deltek's shares are currently priced around $13 largely due to the global downturn in the financial markets. Not that this is bad—the share prices of SuccessFactors and NetSuite, who IPO'd at the same time, are down 35% and 45% respectively.

One key difference between Deltek and the SaaS vendors is that Deltek is profitable. Revenues for 2007 increased 22% to $278m and net income increased 47% to $22m. These are profit figures that SaaS vendors can only dream about. For example, Salesforce.com's 2007 revenues were $497m and net income was only $1/2m.

In addition, Deltek is investing back into its business. Around 15% of Deltek's sales revenues are ploughed into R&D, whereas Salesforce.com's R&D accounts for 1% of sales revenues. Deltek's more traditional business model therefore offers relatively more to its stakeholders in terms of product innovation, sustainability, and profits