MicroStrategy Extends Profitability Run

 
 
By Dennis Callaghan  |  Posted 2003-07-29 Print this article Print
 
 
 
 
 
 
 

MicroStrategy reported its sixth straight quarter of profitability Tuesday as its second-quarter revenues surged past the $40 million mark.

MicroStrategy Inc. reported its sixth straight quarter of profitability Tuesday as its second-quarter revenues surged past the $40 million mark. The Vienna, Va.-based business intelligence software companys net income dropped year-over-year, to $2.3 million after coming in at $24.9 million in last years second quarter, when it was boosted by a contract termination with the now defunct Xchange Applications Inc. Still MicroStrategys sales increased to $43.6 million, up from $36.8 million in the same period last year. License revenues were up as well, from $15 million to $19.6 million. The company added 139 customers in the quarter.
"MicroStrategy has made solid financial and technical progress during the past year," said MicroStrategy Chairman and CEO Michael Saylor in a statement. "We believe that the current trend toward consolidation in the BI industry is favorable for us, and that we are well positioned for continued market success."
In other earnings news Tuesday: Actuate Corp., on the heels of its announcement that it was buying Nimble Technologies Inc., posted revenues of $26 million, down from $27.5 million in last years second quarter. License revenue fell from $14 million to $11.9 million. The South San Francisco, Calif.-based company took a $1.9 million loss in the quarter, up from a $21,000 loss in the same period a year ago. Click here to read more about what Actuate will gain from its acquisition of Nimble Technologies. Content management software developer Vignette Corp. increased its revenues to $40.3 million, up from $35.6 million in last years second quarter. License revenues climbed from $12.6 million to $14.95 million year-to-year. The Austin, Texas-based company lost $867,000 after a $19.9 million loss in last years second quarter. In CRM, Onyx Software Corp. saw its revenues drop from $18.5 million in last years second quarter to $15.8 million this year. License revenue was hardest hit, dropping from $6.5 million to $3.1 million. The Bellevue, Wash.-based company did cut its losses though, from $4.7 million in last years second quarter to $897,000 this year. Revenues at Firstwave Technologies Inc. also fell, from $3.6 million to $3 million, year-to-year. That cut the Atlanta-based companys profits to just $95,000 after an $866,000 profit in last years second quarter. Firstwave also announced version 10 of its .Net-based CRM suite, featuring an Integrated Development Environment designed to ease customization of the software.
 
 
 
 
 
 
 
 
 
 
 

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