Revenue for the second quarter was $252.4 million, compared with $229.9 million for the same period last fiscal year, an increase of 10 percent. License revenue was $87 million, compared with $78 million in the second quarter of last fiscal year, an increase of 12 percent.
Net income on a U.S. GAAP basis in the quarter was $26.5 million, compared with $23.8 million for the same period last fiscal year, an increase of 12 percent. Net income on a non-GAAP basis (excluding amortization of acquisition-related intangible assets and stock-based compensation expense) for the quarter was $34.7 million, compared with $30.0 million for the same period last fiscal year, an increase of 15 percent. Earnings per diluted share (EPS) on a U.S. GAAP basis for the quarter was 31 cents, compared with 26 cents for the same period last fiscal year, an increase of 19 percent. EPS on a non-GAAP basis (excluding amortization of acquisition-related intangible assets and stock-based compensation expense) for the quarter was 40 cents, compared with 33 cents for the same period last fiscal year, an increase of 21 percent.
"I am pleased with our performance in the second quarter," said Cognos president and chief executive officer, Rob Ashe. "We saw solid growth across both our Cognos 8 BI and Financial Performance Management solutions. On the strength of our growth, a continuing strong product cycle going forward, a healthy market, and significantly increased sales and customer service capacity, we are heading into the seasonally strong second half of our fiscal year with confidence.
"As the independent leader in performance management, our focus is to deliver innovation and expertise for our customers. The current momentum of our solution offering reflects continued emphasis of these themes, with recent announcements of Cognos 8 BI Analysis for Excel, the Cognos 8 Version 8.3 beta cycle, our recently expanded relationship with Informatica, and new solution offerings with IBM. This momentum grew even stronger with our announcement of a definitive agreement to purchase Applix. Response from customers and the market to this announcement has been extremely positive, as customers see the combined value of this important acquisition."
Recent Cognos Highlights
Recent highlights that the company can point include:
- Nine contracts greater than $1 million in the second quarter.
- A total of 411 sales representatives, the highest level ever—an increase of 21 from the end of the first quarter and 45 from Q2 of last fiscal year.
- Signed worldwide reseller agreement with Informatica for its data quality software.
- Appointed Phillip Beniac president of Cognos Asia-Pacific.
- Announced the execution of a definitive agreement to acquire Applix.
Revenue for the first six months of fiscal year 2008 ending August 31 was $489 million, compared with $446.9 million for the same period last fiscal year, an increase of 9 percent. Net income on a U.S. GAAP basis for the first six months was $48.9 million, compared with $38.3 million for the same period last fiscal year, an increase of 28 percent. Net income on a non-GAAP basis (excluding amortization of acquisition-related intangible assets and stock-based compensation expense) for the first six months was $63.9 million, compared with $49.8 million for the same period last fiscal year, an increase of 28 percent. Earnings per diluted share (EPS) on a U.S. GAAP basis for the first six months was 55 cents, compared with 42 cents for the same period last fiscal year, an increase of 31 percent. EPS on a non-GAAP basis (excluding amortization of acquisition-related intangible assets and stock-based compensation expense) for the first six months was 72 cents, compared with 55 cents for the same period last fiscal year, an increase of 31 percent.
Cognos serves more than 23,000 customers in more than 135 countries, and its top 100 enterprise customers consistently outperform market indexes. Cognos performance management solutions and services are also available from more than 3,000 worldwide partners and resellers. For more information, visit the Cognos Web site at www.cognos.com.
Business users want new applications now. Market and regulatory pressures require faster application updates and delivery into production. Your IBM i developers may be approaching retirement, and you see no sure way to fill their positions with experienced developers. In addition, you may be caught between maintaining your existing applications and the uncertainty of moving to something new.
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