Hoping to prove that its comeback is for real, Informix Software today reported a larger-than-expected third-quarter profit and a 23 percent increase in revenues.
The database software company, which is still rebuilding from executive turnover and a series of tumultuous financial setbacks in recent years, reported that its software license revenue grew 24 percent in the most recent quarter compared with the same period last year, and that its services revenue jumped 22 percent.
Revenue for the third quarter ended September 30 reached $185.2 million, vs. $150.2 million a year ago. Informix said revenues also grew sequentially, jumping 6 percent from $174.2 million recorded last quarter.
Net income soared to $18.4 million or 10 cents per share, easily beating Wall Street estimates. Informix was expected to post earnings of 6 cents per share, according to First Call. The company reported a loss of $110.5 million or 73 cents per share a year ago.
CEO Bob Finocchio credited the strong quarter to the company's new strategy of targeting specific markets for its database software. "We continue to focus on those market segments where we have competitive advantage, including high-performance online transaction processing, data warehousing, and Web e-commerce," he said in a statement.
Informix made its earnings announcement after the market closed today. Its stock ended the day at 5.5, up .625.