Officials from both entities said they will appeal the decision.
"Cirque du Soleil completed an exhaustive review of its safety policies and procedures in the wake of the tragic accident involving Sarah," said Cirque du Soleil spokeswoman Rene-Claude Mnard. "We have redoubled our efforts to ensure the overall diligence and safety of our performers and crew."
The accident occurred during a fight scene near the end of "Ka," which combines acrobatics with martial arts and puppetry and tells the story of two imperial twins on a quest to reclaim their palace from evil warriors.
Visitor Dan Mosqueda of Colorado Springs, Colorado, told the Las Vegas Sun Guillot-Guyard was being hoisted up the side of the stage when it appeared that she detached from her safety wire and plummeted to an open pit below the stage.
"Initially, a lot of people in the audience thought it was part of the (show)," he told the Sun. "But you could hear screaming, then groaning, and we could hear a female artist crying from the stage."
The show was cut short after the acrobat's fall, and reopened 17 days after her death.
Guillot-Guyard was the first Cirque du Soleil performer to die in an onstage accident in the company's 29-year history.
The mother of two had been with the original cast of "Ka" since 2006, and had been an acrobatic performer for more than 20 years, according to Cirque officials. Born in Paris, she was also the head coach at Cirquefit, a program that offers acrobatic fitness classes for children.