Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Informatica Q4 Profit Tops Estimates, Issues Upbeat Outlook, Shares Surge

Informatica Corp. (INFA: Quote), an independent provider of data integration software, Thursday reported lower profit for the fourth quarter that topped estimates, and reportedly issued an upbeat first-quarter outlook, sending the shares higher in extended trading.

Net income for the fourth quarter fell to $31.07 million or $0.28 per share from $42.39 million or $0.38 per share in the prior year.

Excluding items, earnings totaled $0.41 per share, while it stood at $0.47 per share last year. On average, 25 analysts polled by Thomson Reuters expected earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues advanced to $234.74 million from $227.13 million. Analysts expected revenues of $217.51 million.

License revenues slid to $104.05 million from $112.08 million while Service revenue increased to $130.69 million from $115.05 million.

Total cost of revenues advanced slightly to $40.48 million. Operating expenses increased to $149.66 million from $129.41 million.

Sohaib Abbasi, chairman and chief executive officer of Informatica, said, "Our fourth quarter 2012 results demonstrate our progress to regain our operational discipline. Our conviction in our long-term opportunity is firmer than ever...''

For the full year, net income dropped to $93.18 million from $117.5 million in the previous year. Revenues increased to $811.57 million from $783.78 million.

The company reportedly said in a conference call that it expects first-quarter adjusted earnings in the range of $0.29 to $0.32 on revenue of $196 million to $206 million. Wall Street looks for quarterly earnings of $0.31 per share on revenues of $197.52 million.

INFA closed up 1.1 percent at $33.24 on Thursday, but added 8.5 percent in the extended trade.

Register
To receive FREE breaking news email alerts for Informatica Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
First-time claims for U.S. unemployment benefits fell by much more than anticipated in the week ended September 13th, according to a report released by the Labor Department on Thursday, with claims pulling back near the fourteen-year low set in July. After ending the previous session mostly higher, stocks may see some further upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 44 points. Banks took up less-than-expected amount of funds at the European Central Bank's first targeted longer term refinancing operation, damping hopes of the success of the measure that was aimed to boost liquidity to help revive lending to small businesses and households.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.