Cognos Revenues, Earnings Continue Rise
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.