The cloudy forecast predicted by other tech companies isn't raining on BMC's parade.
Despite a cloudy outlook for other technology companies such as Cisco
Software on Feb. 7 predicted
even better results for its earnings and revenue for its full fiscal 2008.
In reporting its third-quarter 2008 results,
officials upped their earnings-per-share forecast to a range of $1.90 to $1.94
a share for fiscal 2008 on a non-GAAP (generally accepted accounting principles)
's earlier forecast
predicted earnings per share of between $1.78 to $1.86 for the full year on a
At the same time
upped its revenue
growth expectations for the full year to be in the high single digits, up from
a forecast of 6 percent that it made late last year.
For its most recently completed quarter,
said its net earnings hit $89 million, or 45 cents per share on a GAAP basis.
That was on revenue of $459 million, which represents a jump of 11 percent over
the third fiscal quarter of 2007. Non-GAAP net income was $112 million,
or 57 cents a share, which also tracked higher than
"This is the 11th
consecutive quarter we've met or exceeded our
Bob Beauchamp in
earnings call. Beauchamp attributed its growth to its leadership in the BSM
(business service management) market.
"IT environments are becoming increasingly complex. At its core, BSM
provides the opportunity to align IT with business priorities, so budgets can
be recaptured or reallocated to grow the company's business," said Beauchamp.
In an interview with eWEEK later, Beauchamp attributed
sunnier outlook to the efficiencies its customers can achieve in streamlining
their IT operations using
"The evidence in front of us shows that deals are not slipping. We have
not seen any projects delayed or canceled as result of economic issues.
To the contrary, we've seen some companies that had very intense cost
initiatives standardize on us," Beauchamp said.
At the same time, while market researchers such as Gartner and Forrester
Research expect IT spending to only grow 5 to 6 percent, spending on enterprise
software is expected to grow faster, at between 8 and 9 percent, he
added. "That means somebody's going to get cut hard, but enterprise
software, with its ability to cut out costs, is very positive for our sector,"