Cognos Sees Revenues, Profits Jump
The business intelligence software company cites growing acceptance of its Series 7 applications for its Q1 success.Cognos Inc. kept up its momentum Thursday, reporting an increase in revenues, including license revenues, and net income for its fiscal first quarter ended May 31. The Ottawa-based business intelligence software company booked revenues of $120.1 million for the quarter, up from $108 million in the same period a year ago. That included an increase in license revenue from $43.1 million to $49.8 million. Cognos turned a $9.9 million profit on that revenue, compared with an $11.1 million loss in the same period a year ago. Company officials cited growing acceptance of its Series 7 applications, first released late last year, for the financial success in the quarter, as Cognos closed four deals of more than $1 million and 42 of more than $200,000 in the quarter.
"The strong financial performance in a difficult environment demonstrates solid execution and underscores the success of our business model in winning the enterprise BI market," said Cognos CEO Ron Zambonini in a statement. "While customer purchasing behavior remains a challenge, we are confident that the value proposition of our enterprise BI solution and our prospects in the BI market are solid."