Informatica Sees Slight Revenue Jump

 
 
By Dennis Callaghan  |  Posted 2002-07-19 Print this article Print
 
 
 
 
 
 
 

Software developer in second quarter notched slight revenue increase and modest profit.

Data warehousing and business intelligence software developer Informatica Corp. enjoyed a slight increase in revenues in the second quarter of 2002 from the same period last year, turning a modest profit in the process. Actuate Corp. meanwhile, which competes in the related information delivery space, maintained profitability despite a sharp drop in license revenue. Redwood City, Calif.-based Informatica saw total revenues rise from $47.8 million in last years second quarter to $49.1 million in the same period this year. License revenues, however, were down slightly from $28.2 million to $26.4 million.
The company managed a modest profit of $434,000 on those numbers, after losing $7.5 million in the same period last year.
Actuate hit more of a snag in its quarter, as license revenue fell to $14 million from $20.3 million in the year-ago period. That dragged total revenues down from $32.5 million to $27.5 million in the second quarter, year-to-year and net income from $2.2 million to $1.6 million. "We will continue our unwavering focus on expense management and operating margin improvement even as we develop growth opportunities in this weak economic climate," said Actuate president and CEO Pete Cittadini in a statement from company headquarters in South San Francisco, Calif. Related Stories:
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