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Informatica Reports Preliminary Third Quarter Results

REDWOOD CITY, Calif., Oct. 4, 2012 (GLOBE NEWSWIRE) -- Informatica Corporation (Nasdaq:INFA), the world's number one independent provider of data integration software, today announced preliminary financial results for the third quarter ended September 30, 2012. Informatica will report complete and final results for the third quarter on October 25, 2012.

Informatica expects total revenues for the third quarter of 2012 to be in the range of $189 million to $191 million. License revenues are expected to be in the range of $65 million to $67 million and service revenues are expected to be in the range of $123 million to $125 million.

Earnings per share for the third quarter of 2012, calculated in accordance with U.S. generally accepted accounting principles (GAAP) are expected to be in the range of $0.13 to $0.15 per diluted share. Non-GAAP earnings per share for the third quarter are expected to be in the range of $0.25 to $0.27 per diluted share. Non-GAAP earnings per diluted share exclude approximately $0.12 per share in charges and tax benefits related to the amortization of acquired technology and intangible assets, facilities acquisition-related adjustments and stock-based compensation.

"While overall customer demand for our products increased from the second quarter to the third quarter of 2012, most of our revenue shortfall in the third quarter was in Europe, where we fell well short of our own expectations," said Sohaib Abbasi, chairman and chief executive officer, Informatica. "Despite improving operational results in the US and Asia Pacific relative to our second quarter 2012 results, the disappointing European results reflect continued operational challenges that we are taking aggressive steps to address. Under our new worldwide sales leader, we remain focused on implementing the changes necessary to pursue our market opportunity."

"As we have previously stated, our tax rate is very sensitive to the geographic mix of business. The revenue shortfall in Europe will cause a significant increase in our tax rate for the third quarter and the full year 2012, and is expected to negatively impact earnings per share by approximately $0.02 in the third quarter," said Earl Fry, chief financial officer, chief administration officer and executive vice president, global customer support, Informatica. 

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