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Hyperion income rises by more than half

The financial software company reports a 61 percent bump in earnings and says it is buying a "dashboard" program maker to round out its business performance tools.

Financial software maker Hyperion said on Wednesday that its fourth-quarter earnings rose by 61 percent compared with last year, and announced it will acquire privately held software company QIQ Solutions.

Sunnyvale, Calif.-based Hyperion reported net income of $14.7 million, or 36 cents per share, for the quarter ended June 30. That compares with earnings of $9.2 million, or 25 cents per share, a year ago. Excluding charges, net income was $17.8 million, or 44 cents a share, which was 4 cents over analysts' estimates for the quarter.

Revenue for the quarter increased 28 percent year over year to $176.4 million, with license revenue showing growth of 30 percent.

Hyperion's results buck the downward trend in the enterprise software market. Executive chairman Jeff Rodek said that corporate interest in analytics, or "business intelligence," and business performance management fueled the company's strong fourth quarter.

"The business performance management category is taking off," Rodek said. "Companies have deployed their transaction systems but they need business intelligence to get insight into their business."

Among other products, the company makes business performance management software designed to help financial institutions and other customers track and report analytical data.

In a separate announcement on Wednesday, Hyperion said it is purchasing QIQ Solutions to fill out that business performance management line, which includes its Hyperion Performance Suite. Sydney, Australia-based QIQ, which employs fewer than 20 people, sells tools for building "dashboards," or screens, that can present data in a simplified format.

Hyperion also announced that it has separated the CEO and chairman positions. Rodek, who came in five years ago as chairman and CEO during a difficult period at the company, assumes the post of executive chairman. Godfrey Sullivan is now president and CEO.