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Cognos edges past 2Q forecasts

Cognos (Nasdaq: COGN) beat analyst forecasts by a penny in the second quarter.

After market close Wednesday, the vendor of business analysis software reported fiscal second quarter net income of $16.5 million, or 18 cents per share. First Call's survey of 13 analysts predicted a profit of 17 cents per share for the quarter ended Aug. 31.

Shares of Cognos rose to 43.625 in afterhours activity on the Island electronic communications network, immediately following the earnings report. Cognos stock gained 2 3/8 to 43 in Wednesday's regular Nasdaq trading, prior to the release of quarterly results.

Second quarter revenue increased 34 percent year-over-year to $118.2 million. Cognos' "business intelligence" software generated sales of $106.8 million, up 44 percent from the comparable period a year earlier.

The company saw pre-tax margins of 19.4 percent.

"These results demonstrate the vibrancy of the business intelligence market overall and the sustained strong momentum of Cognos' business throughout the world," said Ron Zambonini, Cognos president and CEO.>