MicroStrategy, once plagued by financial restatements that turned profits into losses, recorded its fifth straight profitable quarter.
MicroStrategy Inc. continued the upward trend in business intelligence software company financials, posting gains in revenues while maintaining profitability, the Reston, Va.-based company announced Tuesday.
First-quarter revenues, for the period ended March 31, were up from $35.7 million last year to $37.4 million this year. License revenues led the way, up from $14.5 million to $16.5 million. Net income fell though, from $2.9 million to $665,000. Still MicroStrategy, once plagued by financial restatements that turned profits into losses, recorded its fifth straight profitable quarter.
MicroStrategy added 97 new customers in the quarter.
"Our customers are building and deploying valuable enterprise BI applications which we believe will generate recurring demand for our software and services," said Michael Saylor, MicroStrategys chairman and CEO, in a statement.
In other earnings news Tuesday:
Query and reporting software vendor Actuate Corp. saw first-quarter revenues slip from $28.8 million to $25.5 million. License revenues dropped more precipitously, from $16.9 million to $11.2 million. The San Francisco-based company lost $622,000 after a $249,000 loss in last years first quarter.
Revenues were down only slightly at CRM vendor Onyx Software Corp., from $14.6 million to $14.2 million. License revenues fell from $3.1 million to $2.6 million. Bellevue, Wash.-based Onyx did shave its losses though, to $3.4 million from $6.6 million in last years first quarter.
Web personalization pioneer NetPerceptions Inc. saw revenues fall from $1.1 million to $616,000. License revenues actually increased though, from $43,000 to $138,000. The Minneapolis-based company lost $2.4 million after losing $3.5 million in last years first quarter.
Messaging software and services vendor Critical Path Inc.s first-quarter revenues fell from $23.7 million to $18 million, year-to-year. License revenues accounted for most of that, falling from $10.9 million to $5 million, though the San Francisco-based company has been focusing more on services. Critical Path cut its losses slightly, from $29.2 million to $26.9 million.
Business process management software developer Pegasystems Inc. boosted revenues from $24.2 million to $25.6 million year-to-year, which helped the Cambridge, Mass.-based company double its net income, from $3.4 million to $6.8 million. License revenue was nearly constant at $16.2 million after coming in at $16.3 million in last years first quarter.
Content management software developer Stellent Inc. increased first-quarter revenues as well, from $14 million to $16.8 million year-to-year. License revenues jumped from $8.3 million to $10 million. That helped the Eden Prairie, Minn.-based company shave its net loss to $6.6 million from $17.4 million in the same period last year.