As noted in comments, the tables do not have clustered indexes therefore you can not logically defragment them (rebuild indexes) completely. That is, the indexes are defragged but not the actual data.

Also, DELETEs from heaps (a table without a clustered index) do not deallocate space. See http://msdn.microsoft.com/en-us/library/ms189245(v=sql.105).aspx for more

Finally, not having clustered indexes is generally a bad thing except for staging tables that are truncated. However, GUIDs are not good clustering keys

Solutions?

• Add clustered indexes for a long term fix (subject to regular index maintenance)
• Run DBCC SHRINKFILE with NOTRUNCATE to compact data. YMMV of course

As noted in comments, the tables do not have clustered indexes therefore you can not logically defragment them (rebuild indexes) completely. That is, the indexes are defragged but not the actual data.

Also, DELETEs from heaps (a table without a clustered index) do not deallocate space. See http://msdn.microsoft.com/en-us/library/ms189245(v=sql.105).aspx for more

Finally, not having clustered indexes is generally a bad thing except for staging tables that are truncated. However, GUIDs are not good clustering keys

Solutions?

• Add clustered indexes for a long term fix (subject to regular index maintenance)
• Run DBCC SHRINKFILE with NOTRUNCATE to compact data. YMMV of course