BEA System's profit perks up
First-quarter net jumps 35 percent over same period in 2004, new-license revenue dips slightly.
BEA Systems reported a rise in first-quarter revenue and profit, buoyed by brisk sales and a jump in services revenue. The infrastructure software maker said that revenue was $281.7 million in the quarter ended April 30, a 7 percent increase from the same period last year.
Net income according to generally accepted accounting principles (GAAP) climbed 35 percent to $34.1 million, or 8 cents a share. Non-GAAP net income excluding special items was $35.8 million, or 9 cents a share--in line with analysts' expectations.
Despite the profit increase, the company's new-license revenue--a closely watched indicator of financial health--dipped slightly from $120 million in the first quarter last year to $116 million. BEA's services revenue grew 16 percent to $165 million year over year. ?Our first-quarter performance was driven by strong customer demand, great products, improved sales execution, and continued strength in our customer support business,? said company CEO Alfred Chuang. BEA's stock price was up 2 percent to $8.14 in after-hours trading.