Software maker Cognos beats estimates
The maker of data analysis and reporting software reports a fiscal third-quarter net income of $17 million, beating analysts' predictions.
After markets closed Thursday, the maker of data analysis and reporting software reported fiscal third-quarter net income of $17 million, or 18 cents a share, excluding special charges. First Call's survey of 14 analysts predicted a profit of 16 cents a share for the quarter ended Nov. 30.
Including goodwill write-downs and charges to write off in-process research and development, Cognos earned $13.6 million, or 15 cents a share.
Third-quarter revenue increased 28 percent year-over-year to $97.8 million. Cognos' "business intelligence" offerings generated $112.8 million, a 35 percent improvement from the comparable quarter a year ago. But that segment was "modestly" below expectations, said CEO Ron Zambonini.
"We remain very positive with respect to the health and growth prospects for the business intelligence market and the company's leadership position within this market," Zambonini said.