Online business optimization software provider Omniture, Inc. (OMTR) reported Thursday a narrower loss for the third quarter, reflecting a 13% growth in revenues. On a per share basis, adjusted earnings came in above consensus estimates.
For the third quarter, the Orem, Utah - based company's net loss narrowed to $8.52 million or $0.11 per share from $17.28 million or $0.24 per share in the previous year.
The company noted that the results of the latest quarter included acquisition-related costs of $5.27 million related to the agreement by Omniture to be acquired by Adobe Systems Inc. (ADBE), the associated adjustment to deferred revenue of $171 thousand, and stock-based compensation of $7.29 million. The results of the prior-year period included stock-based compensation of $7.80 million and adjustment to deferred revenue of $1.90 million.
Excluding items, net income rose to $12.29 million or $0.15 per share from $8.23 million or $0.11 per share in the past year. On average, 25 analysts polled by Thomson Reuters expected the company to report earnings of $0.13 per share in the third quarter. Analysts' estimates typically exclude special items.
Total revenues for the period increased 13% to $87.85 million from $77.78 million last year. Twenty two analysts were looking for revenue of $87.96 million for the third quarter. Subscription, license and maintenance revenue rose 12% to $77.56 million from $69.55 million, while professional services and other revenue surged 25% to $10.29 million from $8.23 million.
For the nine-month period, net loss narrowed to $21.58 million or $0.28 per share from $36.68 million or $0.52 per share in fiscal 2008. Net income on a non-GAAP basis improved to $30.63 million or $0.39 a share from $22.81 million or $0.30. Revenues grew 24% to $262.58 million from $212.61 million in the same period last year.
OMTR is currently trading at $21.42, down $0.01 or 0.05%, on the NASDAQ.
ADBE is currently trading at $35.70, up $0.21 or 0.59%, on the NASDAQ.
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