<p>Does anyone know of a good code obsfucator for Perl? I'm being ask to look into the option of obsfucating code before releasing it to a client. I know obsfucated code can still be reverse engineered, but that's not our main concern. </p>

<p>Some clients are making small changes to the source code that we give them and it's giving us nightmares when something goes wrong and we have to fix it, or when we release a patch that doesn't work with what they've changed. So the intention is just to make it so that it's difficult for them to make their own changes to the code(they're not supposed to be doing that anyway).</p>

Please don't do that. If you don't want people to alter your Perl code then put it under an appropriate licence and enforce that licence. If people change your code when you licence says that they shouldn't do that, then it's not your problem when your updates not longer work with their installation.
See
perlfaq3's answer to "How Can I hide the source for my Perl programs?
for more details.