HOUSTON ( TheStreet) -- Strong software license growth helped lift BMC's ( BMC) fourth-quarter results above analysts' projections after market close on Wednesday.
The Texan firm brought in revenue of $562 million, up 14% on the same period last year, and well above the consensus estimate of $538.8 million. Excluding items, BMC earned 78 cents a share, a 20% hike on the prior year's quarter. Analysts surveyed by Thomson Reuters had predicted earnings of 77 cents a share. BMC's revenue from software licenses climbed 24% year-over-year to reach $251 million, according to a statement released by the company. Investors responded positively to the results, pushing BMC's shares up $2.58, or 5.26%, to $51.65 in extended trading. The management software specialist, which narrowly missed third-quarter earnings estimates, cited growing demand for emerging technologies such as cloud computing for its strong fourth-quarter numbers. "Customers are increasingly seeking to build agile, flexible IT infrastructures, whether through cloud computing, SaaS or virtualization," said Bob Beauchamp, BMC's CEO, in the statement. BMC, which partners withCisco ( CSCO) on cloud computing, also posted robust full-year results. The software maker brought in full-year revenue of $2.1 billion, an 8% increase on the prior year, and above analysts' forecast of $2.04 billion. Excluding items, the software firm earned $2.99 a share, 12% higher than fiscal 2010, and in line with Wall Street's forecast. BMC also offered healthy guidance for fiscal 2012, predicting earnings between $3.21 a share and $3.31 a share, at the high end of analysts' forecast of $3.23 a share. The Houston firm expects revenue growth in the high single digits to low double digits. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: firstname.lastname@example.org