Cognos Exceeds Expectations

In an interview, CFO Tom Manley said the overall economic climate is improving slightly, but is being held back by uncertainty over global events. He noted that deal sizes "have been increasing" as long as he's been with the firm and this year was no exception. The company signed 37 contracts greater than $1 million in fiscal 2003, an all-time high for Cognos and up from 21 last year.

Revenue for the full fiscal year 2004 was $683.1 million, an increase of 24 percent from 2003.

On a GAAP basis, net income for fiscal 2004 was $100.9 million, and diluted earnings per share were $1.10 compared to last year's net income of $73.1 million, or $0.81 per share. Excluding the favorable change in tax rate and the one-time cost, pro forma diluted earnings per share in fiscal 2004 were 99 cents.