Quest Software's 2Q Results Beat Expectations

ALISO VIEJO, Calif. (AP) —Quest Software Inc. said Monday its second-quarter profit more than doubled to $20.5 million, beating analysts' expectations, even as revenue fell.

The business software maker said it earned 21 cents per share during the quarter that ended June 30, up from $8.3 million, or 8 cents per share, during the same period last year. Excluding one-time items, the company said it earned 29 cents per share in the latest period.

Revenue fell 5 percent to $164.3 million from $173.4 million a year ago.

Analysts surveyed by Thomson Reuters were expecting a profit of 20 cents per share on revenue of $165.1 million.

Results were helped by a 17 percent drop in operating expenses to $121.9 million. Quest said its cash and investments grew to $331.2 million, up by $20.6 million from the first quarter.

Quest shares rose 86 cents, or 6 percent, to $15.79 in aftermarket trading after the results were released. Previously, they had fallen 26 cents to close at $14.93.