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Cognos tops 4Q forecasts, sets stock split

Cognos (Nasdaq: COGN) topped fourth quarter estimates and announced a stock split.

After market close Thursday, the provider of data analysis software reported fiscal fourth quarter net income of $21.3 million, or 47 cents per share. First Call's survey of 14 analysts predicted a profit of 43 cents per share for the quarter ended Feb. 29.

Also Thursday, Cognos announced a 2-for-1 stock split, to take effect April 27 for shareholders of April 20 record. The company will have about 86.7 million shares outstanding after the split.

Shares of Cognos traded as high as 71 239/256 in afterhours activity on the Island electronic communications network. The stock closed Thursday's regular trading at 65 5/8, up 3 27/32 for the session.

Fourth quarter revenue increased 36 percent year-over-year, to $118.1 million from $86.9 million. Revenue from the company's analysis products rose to $104.9 million, up 49 percent from the year-ago period.

For the full fiscal 2000, Cognos earned $58.8 million, or $1.34 per share, on revenue of $385.6 million.

Web-based products are driving the company's growth said Ron Zambonini, president and CEO. The number of deals more than $50,000 rose to 415, a 50 percent increase year-over-year, he said. More than 90 percent of those corporate transactions included Internet-related products.

Cognos appointed two new board members, Eastman Kodak (NYSE: EK) executive Candy M. Obourn and former CAE head John E. Caldwell.

Competitors of Cognos include Brio Technology (Nasdaq: BRYO), Hyperion Solutions (Nasdaq: HYSL) and Business Objects (Nasdaq: BOBJ).>