Cognos' Posts 23% Rise in Revenue

Cognos(COGN Quote) on Wednesday beat second-quarter earnings estimates by 2 pennies and provided third-quarter guidance in line with Wall Street expectations.

The Ottawa, Canada-based business intelligence software maker reported GAAP net income of $18.2 million, or 20 cents a share, in the second quarter, compared with net income of $13.7 million, or 15 cents a share, in the same period a year earlier. That beat the Wall Street consensus estimate of 18 cents a share gathered by Thomson First Call.

The company said revenue rose 23% to $158.2 million from $129.1 million a year earlier and 5% from $150.6 million in the previous quarter. Analysts were expecting revenue of $158.3 million in the second quarter.

Cognos said it expects third-quarter revenue to range from $170 million and $172 million and third-quarter earnings to range from 24 cents to 25 cents a share. That's largely in line with the consensus estimate calling for Cognos to post $169.7 million in revenue and 24 cents a share in earnings in the third quarter.

Cognos also has scheduled an investor day Oct. 1 that may be another positive catalyst for the stock.

Shares of Cognos $1, or 3.2%, Wednesday to close at $30.48. In after-hours trading, shares were higher at $30.98.