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TheStreet Open House

Actuate Reports Fourth Quarter And Full Year 2012 Financial Results

Stocks in this article: BIRT

Actuate Corporation (NASDAQ: BIRT), The BIRT Company – delivering more insights to more people than all BI companies combined, today announced financial results for the fourth quarter and full year 2012.

Fourth Quarter 2012 Financial and Operational Highlights:

  • Overall BIRT business surpassed $100 million, life to date;
  • License revenue up 17% year-over-year to $15.5 million;
  • Revenue included 3 transactions with a license component in excess of $1.0 million;
  • Non-GAAP revenue of $35.7 million;
  • Non-GAAP operating income of $6.7 million or 19% of revenue;
  • Non-GAAP fully diluted EPS of $0.09;
  • Q4 Non-GAAP international revenue grew 26% year-over-year;
  • Operating cash flow of $3.8 million;
  • Acquired Quiterian S.L. to deliver Big Data analytics and visual data mining to business users;
  • The Company repurchased $9.6 million worth of stock during the quarter.

Fiscal Year 2012 Financial and Operational Highlights:

  • Record annual BIRT license business of $20.0 million, up 21% year-over-year;
  • Annual license revenue of $57.9 million, an increase of 18% year-over-year;
  • Fiscal year 2012 non-GAAP revenue of $138.9 million, an increase of 3% year-over-year;
  • Revenue included 10 transactions with a license component in excess of $1.0 million;
  • Fiscal year 2012 non-GAAP operating margin of 22% and net income margin of 15%;
  • Annual fully diluted non-GAAP EPS of $0.39;
  • Annual operating cash flow of $20.3 million;
  • Repurchased $25.6 million worth of stock during the year.

“Our fourth quarter and full year 2012 results reflect strong organic license growth based on our unique, BIRT-based business model and several astute acquisitions,” said Pete Cittadini, President and CEO of Actuate. “In addition to the solid performance of our BIRT business, BIRT iHub consolidates our key offerings, making it even easier for our customers to evaluate, deploy and manage Actuate technology. iHub has been created to help our customers to harness Big Data Business Analytics, Customer Communications Management and Customer Facing Applications and their intersection with touch devices, for maximum benefit. Our BIRT iHub business consolidates our BIRT and acquisition-related revenue streams to provide more transparency into our business and what fuels our growth.”

Tweet this: #Actuate NASDAQ: $BIRT: Annual BIRT license business +21% YOY; Q4 License revenue +17% YOY; 2012 License revenue +18% YOY; Q4 Non-GAAP diluted EPS $0.09

Revenues as reported in accordance with U.S. generally accepted accounting principles (GAAP) for the fourth quarter of 2012 were $35.6 million compared with $35.3 million in the fourth quarter of 2011. License revenues for the fourth quarter of 2012 were $15.5 million, up 17% when compared with $13.3 million in the fourth quarter of 2011. Service revenues for the quarter were $20.1 million, compared with $22.1 million reported in the same quarter last year.

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