Cognos Revenues, Earnings Continue Rise

By Dennis Callaghan  |  Posted 2003-09-24 Print this article Print

UPDATE: Business intelligence software developer strikes an upbeat note after reporting sequential gains as well as improved licensing revenue.

Business intelligence software developer Cognos Inc. continued to report positive revenue and earnings growth in its fiscal second quarter ended Aug. 31. The Ottawa, Ontario-based company posted revenues of $158.2 million, up from $129.1 million in the same period a year ago. Net income increased from $13.7 million to $18.2 million. License revenue increased from $55 million to $62.2 million year-to-year.
Enterprise planning was a key growth driver, according to Cognos CFO Tom Manley. The company launched its Report-Net enterprise reporting product in September though some early sales were recorded during the second quarter, Man-ley said.
"[ReportNet] should help us to create momentum going into the next quarter," he said. Manley noted that license revenues grew despite the fact that Cognos sales force spent a lot of time in the quarter training to sell Re-portNet. Still license revenues were in line with expecta-tions, he said. Despite the growing sales, the company is still keeping a lid on spending, Manley said. "Were not doing any spe-cific cost-cutting, but were managing our expenses very tightly," he said. Cognos employee headcount remained flat during the quar-ter. Discuss this in the eWEEK forum.

Submit a Comment

Loading Comments...
Manage your Newsletters: Login   Register My Newsletters

Rocket Fuel