Quest Software Inc. (QSFT) reported that its third-quarter net income decreased to $2.949 million or $0.03 per share from $17.317 million or $0.16 per share last year.
Non-GAAP net income increased to $31.184 million from $26.830 million a year ago. Non-GAAP earnings per share increased to
$0.34 from $0.25 a year ago.
On average, 11 analysts polled by Thomson Reuters expected the company to report profit of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues decreased to $170.849 million from $187.565 million last year. Analysts expected revenue of $172.06 million for the quarter.
Quest also announced that it has reached an agreement in principle with the class representative to settle the shareholder class action relating to alleged option backdating that was filed in October 2006 in the U.S. District Court for the Central District of California against Quest and certain of its current or former officers and directors for a payment of $29.4 million.
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