Jan 23, 2003 (07:01 PM EST)
Informatica's Back In The Black
Read the Original Article at InformationWeek
Informatica Corp. returned to profitability in its fourth quarter. The business-analytics software developer reported that net income reached $1.5 million, or 2 cents per share, on sales of $50.1 million during the period ended Dec. 31. In the year-ago quarter, the company reported a loss of $8.5 million, or 11 cents per share, on sales of $50.3 million.
"We've got our business firing on all cylinders," CEO Gaurav Dhillon said after the figures were released Thursday, adding that tight cost controls combined with better-than-expected order rates helped push Informatica into the black. During the quarter, the company signed 72 new customers and did repeat business with 87 customers. License revenue was $24.8 million in the period, down 15% from one year earlier, while service-related revenue grew nearly 20%, to $25.4 million.
Informatica recorded losses each quarter starting in mid-2000, with the exception of the second quarter of 2002 when it eked out a small profit. For fiscal 2002, the company reported a loss of $15.6 million on sales of $195.4 million, a sharp improvement from a loss of $45.0 million on sales of $200.1 million in fiscal 2001.