Cognos Sees Revenues, Profits Jump

 
 
By Dennis Callaghan  |  Posted 2002-06-21 Email Print this article Print
 
 
 
 
 
 
 

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."
Cognos also announced Thursday that Alan Rottenberg, senior vice president of strategy, will be leaving the company effective April 30 to pursue other interests. Rottenberg has been at Cognos in various executive positions since 1989. "Alans vision, commitment and business savvy played an important role in moving Cognos to the leadership position we enjoy today in both the BI tools and applications markets," said Zambonini. "His passion and desire for excellence are ingrained in the culture of our company today." Cognos also announced Thursday that John Rando, former senior vice president and group general manager of Compaq Computer Corp.s Compaq Services unit, and before that a Digital Equipment Corp. executive, had joined its board of directors. Rando fills one of two vacancies on Cognos board as board members Candy Obourn and Doug Erwin will not stand for re-election at the companys shareholders meeting July 2.
Rando currently chairs the boards of @stake Inc., Ecora Software and Storability Inc. and also serves on the boards of Yankee Energy Systems and ePresence Inc. Related stories:
  • RIM Adds Cognos BI Support
  • Cognos Ships Series 7, Partners With WhiteLight
  • Big Picture Kept in View
  • Cognos to Add Alerts in Upcoming Release
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