(RTTNews) - Business intelligence software provider MicroStrategy Inc. (MSTR: News ) on Thursday reported a 92% increase in profit for the third quarter from last year, as revenues increased 15%.

The McLean, Virginia-based company reported net income for the third quarter of $21.35 million, or $1.73 per share, up from $11.12 million, or $0.90 per share, in the year-ago quarter.

Income from continuing operations for the quarter rose to $21.35 million, or $1.73 per share, from $11.07 million, or $0.90 per share, in the year-ago period. On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.94 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter climbed 15% to $104.02 million from $90.63 million in the prior-year quarter and topped analysts' consensus revenue estimate for the quarter of $91.95 million.

Segment wise, Product licenses revenue for the quarter surged 39% to $34.44 million from $24.79 million in the year-ago period. Product support and other services revenue for MicroStrategy's core business intelligence business were $69.57 million, up from $65.84 million in the same quarter last year.

Gross profit for the quarter increased to $87.48 million from $73.90 million in the previous-year quarter.

Operating expenses for the quarter edged up 1% to $57.09 million from $56.55 million in the year-ago quarter. During the quarter, MicroStrategy capitalized $5.2 million in research and development costs associated with the development of its MicroStrategy 9 software, while no software development costs have been capitalized since the general release of MicroStrategy 9 in March 2009.
For the first nine months of fiscal year 2009, the company's net income rose to $54.30 million, or $4.43 per share, from $27.55 million, or $2.23 per share, in the same period last year.

Income from continuing operations for the six-month period was $39.97 million, or $3.26 per share, up from $27.93 million, or $2.26 per share, in the prior-year period.

Total revenues for the nine-month period increased to $272.02 million from $265.39 million in the year-ago period.

As of September 30, 2009, MicroStrategy had cash and cash equivalents of approximately $200.7 million, compared to $122.9 million as of December 31, 2008.

MSTR closed Thursday's regular trading session at $73.44, down $0.46 or 0.62% on a volume of 0.17 million shares.

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by RTT Staff Writer

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