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.
 | | 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