Actuate Corporation (NASDAQ: BIRT), The BIRT Company and the leader in open source business intelligence (BI), today announced financial results for the third quarter 2012.
Third Quarter 2012 Financial and Operational Highlights:
- License revenue up 13% year-over-year to $13.3 million;
- Revenue included 2 transactions with a license component in excess of $1.0 million;
- Total revenue of $32.2 million;
- Non-GAAP operating margin of 18% and non-GAAP operating income of $5.7 million;
- Non-GAAP fully diluted EPS of $0.08;
- Total cash and short-term investments of $74.6 million on September 30, 2012, an increase of $11.1 million from a year ago;
- The Company repurchased $6.0 million worth of stock during the quarter.
“Our mixed third quarter results reflect some macroeconomic uncertainty particularly in Europe. However, our core BIRT-based business continues to drive a strong medium to long term outlook for Actuate. Our focus remains upon hiring sales-generating headcount and investing in research and development, to take advantage of the growing pipeline of opportunities for commercial BIRT,” said Pete Cittadini, President and CEO of Actuate. “We believe our recent acquisition of Quiterian fits very well into Actuate’s core business and strengthens our unique ability to help more end users identify and operationalize insights derived from any data source. Quiterian’s analytics capabilities will empower business users far beyond the capabilities of existing data discovery and business intelligence technologies, to present them with a powerful combination of analysis, visualization and information delivery options.”
Tweet this: #Actuate NASDAQ: $BIRT: License revenue +13% YOY; Non-GAAP diluted EPS $0.08; Non-GAAP Op Margin 18%Revenues as reported in accordance with U.S. generally accepted accounting principles (GAAP) for the third quarter of 2012 were $32.2 million, down 5% when compared with $33.8 million in the third quarter of 2011. License revenues for the third quarter of 2012 were $13.3 million, up 13% when compared with $11.8 million in the year-ago quarter. Service revenues for the quarter were $18.9 million, compared with $22.0 million reported in the same quarter last year. For the nine months ended September 30, 2012, GAAP revenues were $103.2 million compared to GAAP revenues of $99.6 million for the comparable period of 2011. License revenues for the nine months ended September 30, 2012 were $42.4 million, up 18% when compared with $35.9 million for the comparable period of 2011. Services revenues for the nine months ended September 30, 2012 were $60.9 million compared to $63.7 million for the comparable period of 2011. GAAP operating income was $2.7 million for the third quarter of 2012, compared with $6.8 million in the third quarter of 2011. GAAP net income for the third quarter of 2012 was $107,000, or $0.00 per diluted share, compared with net income of $4.7 million, or $0.09 per diluted share, in the third quarter of 2011. For the nine months ended September 30, 2012, GAAP operating income was $15.2 million compared with $13.1 million in the comparable period of 2011. GAAP net income for the nine months ended September 30, 2012 was $9.5 million, or $0.18 per diluted share, compared with $7.0 million, or $0.14 per diluted share, in the comparable period of 2011.