Mercury Interactive

(MERQ)

posted a 6% drop in net income for its second quarter, after recording a series of one-time charges, but its revenue increased 26% over the same quarter last year.

The business-software solutions provider reported net income on Wednesday of $16.9 million for the quarter, or 19 cents a share, compared with last year's $18 million, or 20 cents a share. Total revenue was $118.1 million, up from last year's $94 million.

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The company posted $2.9 million in one-time charges for acquisitions and restructuring and other related costs, costing investors 3 cents a share. On a pro forma basis, Mercury said its earnings per share increased to 22 cents.

"During the second quarter, Mercury Interactive achieved strong financial results as well as announced two strategic acquisitions and raised $500 million in a convertible notes offering," Amnon Landan, the company's chairman, chief executive and president, said in a statement. "Our business model is working and we continue to take share in the expanding business technology optimization market."

Consensus estimates from a poll of 24 analysts conducted by Thomson First Call forecasted Mercury's earnings per share to be 20 cents for the quarter.

Next quarter, the company expects earnings of 17 cents to 23 cents a share, as well as 82 cents to 92 cents a share for the full year with revenue of $480 million to $500 million.

Mercury expects to close the acquisition of

Kintana

in the third quarter, resulting in one-time charges for in-process research-and-development and severance of approximately $8 million to $9 million, or 8 cents to 9 cents a share. Also, it expects recurring quarterly amortization charges of approximately $3 million to $4 million, or 3 cents to 4 cents a share.

Shares of Mercury were down 1.9%, or 84 cents, at $43.36 Wednesday afternoon.