Borland Revenues Reach $60.7 Million in Q3
Borland Software Corp. generated $60.7 million in revenue in the third quarter, a 10 percent jump from the $55 million it accumulated during the same period last year.
Net income for the quarter, which ended Sept. 30, rose to $5 million, up from $4.7 million for the third quarter of last year, officials of the Scotts Valley, Calif., company said on Thursday.
"Weve started to see some revenue from .Net. Our RAD [rapid application development] business was up 45 percent," said Frederick Ball, Borlands former executive vice president and chief financial officer, who on Thursday took over the newly created position of executive vice president of corporate development and mergers and acquisitions.
Ball said Borlands Linux sales are moving ahead, but "its still early." However, he said Borlands year-to-date Java-based revenue rose 30 percent over a year ago. However, Borlands enterprise business declined 8 percent compared with the third quarter of 2001, the company said.
"The most exciting thing is were finally seeing .Net start to gain some traction in the marketplace," said CEO Dale Fuller. "Its like housing starts. Once you see housing starts begin to rise, you know youre going to see a lot of completed projects down the road."
Earlier this month, Borland acquired BoldSoft MDE Aktiebolag, a Swedish design-driven development toolmaker, in an all-cash transaction. Terms of the deal were not disclosed. The company also said its plans to acquire Starbase Corp. for $24 million in cash.
Ball said his new role plays well with Borlands goal "to not only grow organically but also to add best-of-breed technology" where it can.
With Ball moving into a new slot, Kenneth Hahn officially assumed the role of CFO, Fuller said. Hahns title is senior vice president and chief financial officer.
Borland officials said they expect revenues to range from $60 million to $64 million in the fourth quarter.